The pound sterling dropped versus the euro and the dollar, after hitting a seven-month high against the dollar in a sharp rally to be considered excessive, as traders agree it does not reflect the United Kingdoms economic outlook. The British pound also lost ground against the yen and the countrys main stock exchange index, the FTSE 100, dropped 1 percent after two days of significant gains. … “Pound Slides as Traders Consider Current Rally Excessive”
Author: admin_mm
Dollar Stable Against Euro After Hitting Year Low
After hitting this years low against multiple currencies, the dollar remained stable against the euro, showing a slight correction, yet, the sentiment remains bearish as risk appetite grows. The greenback hit its lowest rate versus a basket of currencies this Monday, after a long rally fueled by economic signs of recovery in Asia and Europe, damping demand for the dollars safety investment profile. Today, the … “Dollar Stable Against Euro After Hitting Year Low”
Russian Ruble Climbs on Oil Uptrend, Stocks Rally
The Russian ruble posted gains against the U.S. dollar for the third day in a row, as the demand for oil increases, causing the Russian stock market to have the highest rally since the beginning of the global slump. Since the oil has rebounded reaching $67.50 a barrel this week, a sharp rally has followed in the Russian equities market, consequently pushing the ruble up, which had suffered severe losses as the global slump started last year. Russias economy is highly orientated … “Russian Ruble Climbs on Oil Uptrend, Stocks Rally”
Dollar Slides as GM May Announce Bankruptcy
The dollar fell against currencies in Asia in the beginning of this weeks session, as General Motors may file for bankruptcy this Monday. General Motors Corp. a company which was once the biggest in the world in its sector, is ready to file for bankruptcy, and the fact that the U.S. government will inject money and become its main owner brought the Dollar Index to the … “Dollar Slides as GM May Announce Bankruptcy”
Canadian Dollar Had Highest Monthly Gain in 60 Years
A combination of factors involving commodities price rebound, stocks rally and a less attractive U.S. dollar in global markets made the loonie to post the highest gains since the Korean War years. Canada is one of the main suppliers of oil and a several number of commodities to the United States, and the recovery signs of the global economy, coming mainly from Asia and to a lesser extent from … “Canadian Dollar Had Highest Monthly Gain in 60 Years”
British Pound Continues North
Friday’s Nationwide HPI supplied more fuel for the Pound, which is now aiming for 1.62. All in all, it was a succesful week for the British Pound, which sees major resistance at 1.67. A roundup of this last week of May. British Indicators Earlier this week, indicators were negative, but the Pound didn’t always react … “British Pound Continues North”
Dollar Retreats On All Fronts – Week’s Roundup
The US dollar is beaten this Friday. It loses ground everywhere. This happened before the disappointing GDP figure, and also after them. Bad Friday for the greenback, yet again. A long term fall in the dollar is imminent. Economic Figures At the beginning of the week, I wrote about 6 key events, in my post: … “Dollar Retreats On All Fronts – Week’s Roundup”
British Pound Climbs as House Prices Rebound
The pound sterling rallied against the dollar and the yen after a report on house prices revealed an unexpected rise in May, boosting confidence among investors that the real estate crisis may be easing. The excellent news for the United Kingdom currency revived hopes for this European nation, one of the most hit by the global crisis and the credit crunch. A report … “British Pound Climbs as House Prices Rebound”
Stocks Rally Push Dollar Down as World Economy Improves
The month of May posted the biggest losses for the U.S. currency in a one-year period against the euro, as equities markets continue to rise on optimism about improvements in the global economic situation. The greenback lost ground against currencies around the world, and after South Korea affirmed that its state pension fund will sell Treasury bonds and diversify their investments to other … “Stocks Rally Push Dollar Down as World Economy Improves”
Yen Declines Further as Investors Purchase Assets Overseas
The yen hit a 8-week low against the dollar and also lost ground against the euro, as Japanese investors, driven by a new wave of confidence on world markets, return to overseas investments. The Ministry of Finance in Japan affirmed that national investors had the highest rise in foreign bonds purchases during the current month, this declaration reflected immediately in the Japanese currency market, making the yen to lose against all of the 16 most-traded currencies. The yen also lost … “Yen Declines Further as Investors Purchase Assets Overseas”