The euro fell for the first time since May 7 against the U.S. dollar, while the Japanese yen rose against all other major currencies, as the European stock markets failed to demonstrate a commitment to move farther up. The traders witnessed Europes stock market indexes mostly in the red zone and expected a negative opening from Wall Street when they began to sell the … “Euro Goes Down, Yen Strengthens as Stocks Pared Gains”
Author: admin_mm
Hangover from Friday Effect – What’s next for the
After Friday’s late dollar selling, the markets have allowed the dollar to breath. Will the dollar recover or has the fall stopped temporarily? On Friday, Non Farm Payrolls were better than expected. "Only" 539K jobs were lost in April, contrary to early expectations that were at -615K and later improved to 590K. The good figure … “Hangover from Friday Effect – What’s next for the”
Canadian Dollar Reacts on Strong Employment Data
After a bearish previous week, the loonie reached a 6-month high against the dollar as national employers added jobs and optimistic data from the U.S. indicate that the recession may be easing. During this week, the loonie was a fantastic investment for traders, rising more then 2.4 percent against the greenback, reaching a 6-month high. Canadas currency uptrend is being highly influenced by the growing demand for crude oil in Asia, which reached the price of $58 for a barrel in this … “Canadian Dollar Reacts on Strong Employment Data”
Russian Ruble Rises as Oil Hits Six-Month High
The Russian currency and stock market posted a week of gains as the price of oil rose, pushed by rising demand in Asia, the MICEX Index is at its highest level since October. The MICEX Index, a reference in the Russian stock market compromising 30 of the most relevant stocks, rose above 1,000 for the first time since October, and also pushed by rise of the crude oil in New York, … “Russian Ruble Rises as Oil Hits Six-Month High”
Dollar Slides Against Euro Before U.S. Job Reports
The dollar has posted its third week of losses against the euro, mainly due improved world financial conditions, shrinking demand for refuge currencies. A report to be released in the U.S. is expected to show that employers are cuttings jobs at a slower pace, which would decrease demand for refuge currencies, such as the greenback. The depreciation of the dollar was also heavily influenced by the ECB … “Dollar Slides Against Euro Before U.S. Job Reports”
Euro Rises Slightly After ECB Interest Rate Cut
The euro had a slight rise against the dollar after the European Central Bank cut its benchmark interest rate to 1 percent, a record low for the European economic bloc. The speculations that the ECB would cut its rates were confirmed today after the European policy makers set the interest rate to 1 percent in the Eurozone, an effort to avoid the current severe … “Euro Rises Slightly After ECB Interest Rate Cut”
Australian Dollar Hits 7-month High on Favorable Employment Data
The Aussie rose against the yen after a regional jobs report in Australia showed an increase in employment conditions and data. The yen had a day of losses against the main currencies in Oceania, after continuous evidences that the global financial situation may be improving, pushing investors towards high-yielding assets and decreasing the risk aversion sentiment on equity markets. In Australia, after a report showing gains … “Australian Dollar Hits 7-month High on Favorable Employment Data”
Oil and Stocks Push Canadian Dollar Down
The loonie weakened for the first time in six days as the crude oil price fell, making Canadas currency to drop from a 6-month high. The Canadian currency has been posting consecutive gains against its North American counterpart since November, and this week negative market prices associated with the loonie, combined with speculations that the government may take measures for … “Oil and Stocks Push Canadian Dollar Down”
Yen Strengthens as U.S. Banking Funds Concerns Arise
The yen and the dollar rose against the euro after U.S. regulators affirmed that the Bank of America Corp. will need more than $30 billion in new capital, spurring demand for refuge currencies. The Japanese currency climbed against all major currencies for the first day since last week, when improved economic conditions around the world boosted the attractiveness … “Yen Strengthens as U.S. Banking Funds Concerns Arise”
British Housing is also Recovering
British Construction PMI was a huge surprise. Adding to previous figures, British housing is clearly off the bottom. The Pound rallied after this release. British Construction PMI jumped to 38.1 points, much much better than last month’s 30.9, and also far better than early expectations which stood on 31.9. This huge leap in Purchasing Managers … “British Housing is also Recovering”