After the IMF statements regarding a slower than expected global economic recovery, the Swedish krona posted an intense decline versus the U.S. dollar, as traders opted for safety in a rather turbulent trading session. Several worse than expected U.S. economic reports were published today, declining attractiveness for currencies like the Swedish krona, as the country is relying on a faster economic recovery to save its banking system, which is highly attached … “Swedish Krona Posts Biggest Fall in 2 Weeks”
Category: Forex news
Chilean Peso Remains Bullish on Central Bank Statement
The Chilean currency managed once again to break a record this Tuesday after the nation’s central bank confirmed that it will remain the interest rates in the country at a record low for the next semester, improving demand for peso-priced assets. The peso has been having a more than great week as virtually all domestic and international events favored the Chilean currency. Apart from the national central bank statement regarding low interest rates, … “Chilean Peso Remains Bullish on Central Bank Statement”
Pound Hits Record High on U.K.’s Economic Rebirth
The pound gained versus multiple currencies today and touched the highest rate in 2 months versus its main rival, the euro, as Bank of England officials affirmed that growth is returning to U.K.’s economic outlook and stimulus measures will be lifted on a foreseeable future. London stocks had a very positive performance today attracting traders to bet on pound-priced assets after the Office for National Statistics posted a report that indicated an increase … “Pound Hits Record High on U.K.’s Economic Rebirth”
Dollar Rises on Low Optimism Session
The U.S. dollar gained massively versus the euro and most of the 16 main traded currencies as risk aversion rose sharply in the beginning of the day as the IMF stated that the global economic recovery will be sluggish, attracting traders to the safety of the greenback. After the International Monetary Fund statement today affirming that the economic rebound will be a slow and complicated process, the U.S. dollar found grounds to rise significantly together with the Japanese yen, … “Dollar Rises on Low Optimism Session”
Chilean Peso Breaks Another Record on Copper Rise
The main Chilean metallic export provided support for the peso to reach the highest level in 16 months versus the greenback as demand for copper is on the rise after global economies showed further signs of recovery this Monday. Risk appetite in trading markets remained high this Monday after Japan posted a higher than expected quarterly growth, raising attractiveness for emergent markets assets and providing support for the peso to establish another record high … “Chilean Peso Breaks Another Record on Copper Rise”
Growth Forecast Sets Brazilian Real High
The Brazilian real benefited today from positive events in both domestic and international spheres as risk appetite rose worldwide, maintaining the Brazilian currency as the best performing currency among the main traded in foreign-exchange markets in 2009. Brazilian and global stocks rose today after the Japanese currency posted a higher than expected growth and a the majority of analysts agree that the South American economy will expand more than previously imagined in 2010, forcing … “Growth Forecast Sets Brazilian Real High”
Bullish Week Start for Canadian Dollar on Stocks
The Canadian dollar continued its previous week rally this Monday as risk appetite remained strong globally, increasing demand for Canadian commodity exports and creating an attractive scenario in Toronto equities markets, as appeal for safety declined, forcing the greenback down. The Asia-Pacific Economic Cooperation forum agreed that stimulus for economies to become more solid should remain for a certain amount of time, which caused risk appetite to rise this Monday, … “Bullish Week Start for Canadian Dollar on Stocks”
Japan Growth Force Greenback Down
The U.S. dollar started this week losing versus its Canadian counterpart and the euro as the wealthiest economy in Asia posted an unexpected quarterly growth, signaling traders that economic conditions in Asia are improving driving capital flows towards high-yielding options. The U.S. currency had a poor performance this Monday after the Japanese economy posted a preliminary gross domestic product growth of 1.2 percent for this year’s third quarter, a much … “Japan Growth Force Greenback Down”
Canadian Dollar Bullish Versus U.S. Counterpart
The Canadian dollar had a second week of gains versus its U.S. counterpart specially as risk appetite rose this Friday as major European economies posted a quarterly economic growth, favoring commodity exporter countries currencies like the loonie in foreign-exchange markets. The loonie extended its gains before the end of this week’s session as the national trade balance posted a diminished deficit for the previous month, indicating that exports can overtake imports … “Canadian Dollar Bullish Versus U.S. Counterpart”
Brazilian Real Ends Losing Streak on Global Optimism
After speculations suggesting that the Brazilian currency will suffer further interventions from the national central bank to stop is rally, the real had a negative performance this week that only ended today after global optimism rose attractiveness for assets in emergent markets. The Brazilian real managed to rise more than 1 percent versus the U.S. before the end of today’s session as positive data in Europe and Asia forced up … “Brazilian Real Ends Losing Streak on Global Optimism”