After a very volatile week where the USD/CAD bounced off a strong resistance line, the loonie is now tested: Was it just a normal retracement? Or did the trend reverse? 4 major indicators await the Canadian dollar: Housing Starts, Trade Balance, NHPI and a press conference by Mark Carney. Here’s an outlook for this week … “Canadian Dollar – Took a Break or Changed Direction?”
Author: admin_mm
EUR/USD – Will it Get on its Feet Again?
After a rollercoaster week, the Euro will receive important figures throughout the week: German Factory Orders, Industrial Production, ECB Monthly Bulletin and two speeches by Jean-Claude Trichet. Here’s an overview of the major Euro figures + a quick technical look on the EUR/USD. Talks about abandoning the dollar as the world’s reserve currency are here … “EUR/USD – Will it Get on its Feet Again?”
U.S. Jobs Report Pushes Dollar Up Against Euro, Pound
The greenback had the highest rally since April against the euro, pound after a U.S. employment report indicated that fewer jobs were cut than forecasts predicted, fueling investors with optimism towards the North American economy. The U.S. dollar gained significantly against most of the main world currencies, as the report bringing better than expected news for the employment … “U.S. Jobs Report Pushes Dollar Up Against Euro, Pound”
Brazilian Real Demand Rises as Commodities Rally Strengthens
The Brazilian currency continued its rally against the dollar, euro, as the demand for commodities continues to rise on improved economic conditions mainly in Asia, spurring demand for assets in emergent markets. Since the price of commodities rebounded as the global slump started to show its first signs of recovery, the Brazilian currency is witnessing an impressive rally fueled by a combination of favorable factors in the global financial system and economy, to the point that the national central bank eventually buys foreign … “Brazilian Real Demand Rises as Commodities Rally Strengthens”
Pound Falls as Government Crisis Deepens
The British pound fell sharply versus the euro and the dollar as a fifth U.K. minister resigned, increasing the already significant concerns on Gordon Browns government stability and the British political future. The United Kingdoms prime minister Gordon Brown is facing a severe crisis in the Parliament, as Pensions Secretary James Purnell resigned this week, being the fifth minister to step down since the beginning … “Pound Falls as Government Crisis Deepens”
Brazilian Real Falls from Eight-Month High as Stocks, Commodities Drop
Brazils Real had the largest drop in six months falling 2.2 percent against the U.S. dollar and declining from an eight-month high, as commodities and stocks declined, reducing capital influx to South Americas most influential economy. After a rocketing rally that made the real to rise 24.6 percent since March 2, the real tumbled the most in six weeks, after a negative day in stock and commodities markets. The main reason that affected the reals price this week was the remittance … “Brazilian Real Falls from Eight-Month High as Stocks, Commodities Drop”
Swedish Krona at Six-Week Low as Concerns Rise in Latvia
The Swedish currency hit a six-week low level after speculations rose that Latvia will devalue its currency, as an attempt to save the country from a deep recession, consequently affecting negatively loans held by Swedish banks in the Baltic Nation. According to a note posted this week by Riksbank, an economic deterioration in the Baltic countries is an imminent risk to Swedish banking institutions, since Latvias financial system is highly linked and … “Swedish Krona at Six-Week Low as Concerns Rise in Latvia”
British Pound Climbs Against Euro as Confidence Emerges
The Great Britain Pound hit a six-month high against the Eurozone currency as domestic consumer confidence rose to a two-year high, indicating that recession might soon be over. The British currency reached the $1.66 mark and the highest level against the euro since last December, after an index of U.K. service industries posted the first expansion in a period of more than twelve months. The Australian … “British Pound Climbs Against Euro as Confidence Emerges”
Dollar Around 09′ Record Low as Risk Appetite Grows
The dollar continued its bearish trend against a basket of currencies after a report on U.S. pending home sales posted the third consecutive monthly rise, improving optimism on markets and extending the current risk appetite wave. Commodity-linked currencies like the Australian dollar and the Brazilian real continued their rally against the greenback as confidence emerges about the world economic rebound, spurring … “Dollar Around 09′ Record Low as Risk Appetite Grows”
Loonie Stays Behind – Mid Week Overview
The US dollar is suffering from losses across the board. Out of the three currencies that I’ve covered, only the Canadian dollar stayed behind. The Pound and the Aussie continued enjoyed the dollar’s fall. Here’s an overview of the week so far, and an outlook towards the data-rich Thursday and Friday. British Pound Original coverage: … “Loonie Stays Behind – Mid Week Overview”