The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recessions easing. The Australian dollar also continued to rise against the greenback and the yen as the commodity prices rose considerably this week. The Asian region demonstrates a less … “NZD Gains for 4th Day Against U.S. Dollar”
Author: admin_mm
Ruble Strengthens to New 2-Month High
The Russian ruble rose to its new maximum since January 14 against the U.S. dollar today as the current oil prices still suggest that the December-January devaluation was too strong. The ruble also gained against the euro and reached a new high since January 26 against it. The Russian ruble is pegged to the basket of currencies that consists of 55 percent U.S. dollars and 45 percent euros. The oil now trades above $60, which, if not compared to the overpriced … “Ruble Strengthens to New 2-Month High”
Canadian Dollar Gains on Stocks and Oil Growth
The Canadian dollar advanced against both U.S. dollar and the euro for a second day today as the stock markets surged globally, while the oil price advanced close to $60 per barrel. The loonie, as the Canadian currency is often called, is a commodity currency that is doomed to appreciate at the time of the global economic recovery. The CAD went up against all major currencies except the British pound today, after demonstrating even faster gains yesterday, while June forward … “Canadian Dollar Gains on Stocks and Oil Growth”
Will Retail Sales and GDP Send the Pound Higher?
The Pound is trading in the highest levels for many months, near a major resistance line. There are 4 major indicators this week: CPI, MPC Meeting Minutes, Retail Sales and Revised GDP. Will they send the Pound to new highs? GBP/USD trades above 1.50 during the most of May. It destroyed the magical number of … “Will Retail Sales and GDP Send the Pound Higher?”
Yen Falls After Vice Finance Minister’s Comment
The Japanese yen declined against its major counterparts today after the Japanese Vice Finance Minister said that the currency rate volatility is hurting the countrys economy. Kazuyuki Sugimoto told the reports in Tokyo today that stimulating the economy is now the governments top priority and that the excessive yens volatility on Forex is undesirable. The yen fell against the dollar, the euro and … “Yen Falls After Vice Finance Minister’s Comment”
Euro Down as German GDP Falls More than Expected
The Eurozone single currency declined against all other major currencies today after the news went out that the economy of Germany contracted at a fastest pace in decades last quarter. In the first quarter of 2009 German GDP — the highest in Eurozone and the worlds 4th highest — declined at a seasonally adjusted rate of 3.8 percent compared to Q4 2008; this decline followed 2.2 percent decline during previous quarter. Yearly drop … “Euro Down as German GDP Falls More than Expected”
The Road To Recovery is Narrow
After a few long weeks of good news from the American economy, this week’s figures have given a blow to the hopes of recovery. What does this mean for the US dollar? Non-Farm Payrolls, the single top rated indicator, was better than expected, showing a fall of “only” 539K jobs in April. This was the … “The Road To Recovery is Narrow”
Indian Rupee Sells as Indian Elections End with Uncertainty
The Indian rupee declined against the U.S. dollar today showing the second bearish day as the countrys parliament elections arent easily predictable about the actual winner that will form the new government. While Indias currency was the definite beneficiary of the recent uprise of the high-yielding assets it suffers greatly now from the double impact of the heightened global risk-aversion and the ongoing … “Indian Rupee Sells as Indian Elections End with Uncertainty”
BoE Report on Inflation Spurrs Yen’s Growth
The Japanese yen began to grow today, after a not very good Asian trading session, when the market participants began to react on the British central banks report on inflation and to favor the secure assets and currencies. The report by the Bank of England released at the press conference today suggests that the gain in the consumer spending may be quite far in time at this moment. It was generally more pessimistic and failed to give traders some clue regarding the normalization of the global … “BoE Report on Inflation Spurrs Yen’s Growth”
Euro Reaches 7-Week High on Chinese Investing Improvements
After the European Central Bank policy makers affirmation that rates will be maintained on hold, the euro reached a 7-week high against the dollar. The euro reached a 2-month record high against the dollar, after a report released in China indicating that urban fixed-asset investments had the highest rise in two years, which increased confidence and demand for higher-yielding currencies and the … “Euro Reaches 7-Week High on Chinese Investing Improvements”