The Australian dollar gained today versus most of the main 6 currencies as a report indicated that the gross domestic product grew much beyond expectations, raising attractiveness for the Aussie, even if the market sentiment favored low-yielding currencies today. The Australian Bureau of Statistics published today a quarterly GDP report in which the South Pacific country grew 0.6 percent compared to 0.2 percent as most of economists expected. The GDP figures in Australia provided … “Australian Unexpected GDP Figures Push Currency Up”
Category: Forex news
Yen Continues Rally as U.S. Banking Sector Deteriorates
Several reasons in Asia and speculations in the U.S. led the yen to extend its gains versus most of the 16 main traded currencies, as pessimism news often raise demand for safer assets, being the yen one of the safest options which benefit from this phenomenon. The yen is being traded at the highest rate in almost two months versus the euro as speculations suggest that the CIT Group Inc.’s financial situation is still deteriorating, … “Yen Continues Rally as U.S. Banking Sector Deteriorates”
Negative Week for Canada’s Currency as Risk Aversion Rises
The Canadian currency entered its third day of consecutive losses as a new intense wave of risk aversion is creating bearish patterns in the main two loonie’s vectors, the crude oil and stocks. After touching the highest rate in more than 10 months in June, the Canadian currency did not manage to sustain its high levels as towards the end of August and now in the beginning of September stocks declined and demand for commodities faltered, influencing negatively … “Negative Week for Canada’s Currency as Risk Aversion Rises”
Risk Aversion Fuels Yen’s Biggest Rally in 2009
The yen climbed for six days in a row versus the euro today as confusion is plaguing investors worldwide, which are purchasing yen-priced assets to protect their portfolios from days of high volatility and extremely bearish markets, like those in the worse moments of the global slump being repeated currently. The biggest loser versus the Japanese yen today was the Australian dollar, since the Reserve Bank of Australia officials suggested through an statement that … “Risk Aversion Fuels Yen’s Biggest Rally in 2009”
Pound Declines on Disappointing Manufacturing Numbers
The pound declined today versus the most of 16 main traded currencies after a report in the country indicated that manufacturing production declined beyond economists expectations, adding pessimism concerning the recession length in the United Kingdom. The United Kingdom has indicated through its latest economics reports that the current recession in the country can be considered more serious if compared to most of the main relevant economic regions around the world, declining … “Pound Declines on Disappointing Manufacturing Numbers”
EUR/GBP Awaiting a Breakout
This morning’s influx of European figures was good, while British numbers were disappointing. This sent EUR/GBP to the high end of the range but didn’t supply a breakout. Will we see EUR/GBP jump? German job market improving German Unemployment Change was excellent: The number of unemployed people in Germany fell by 1000 people. The number … “EUR/GBP Awaiting a Breakout”
Hungarian Forint Declines on Asian Bearish Markets
The Hungarian currency declined together following most of Eastern European countries currencies, as a negative performance in Asian stock markets declined attractiveness for riskier assets, spurring demand for safety in dollar and yen priced assets. Several Eastern European currencies declined today like the Polish zloty and the Russian ruble, mostly influenced by an increase in risk aversion regarding the future of the world economy, since evidences of a complete recovery are still lacking in virtually … “Hungarian Forint Declines on Asian Bearish Markets”
Canadian Dollar Declines Sharply on Oil Faltering Demand
The Canadian dollar started this week losing versus most of the 16 main traded currencies as a negative performance in stocks and commodities influenced the loonie’s attractiveness today, as investors opted for the safety of the greenback. After last week’s declarations from the Bank of Canada affirming that a strong loonie could delay the economic recovery in the North American nation, the loonie’s attractiveness decline, also being affected today by a bearish stock market in Asia and a decline … “Canadian Dollar Declines Sharply on Oil Faltering Demand”
New Zealand Dollar Falls on Central Bank Governor Interview
The New Zealand dollar started this week losing versus the greenback and the yen as higher-yielding currencies attractiveness declined while risk aversion grew among traders globally, shunning investors from assets in the South Pacific region. After a radio interview in which Allan Bollard, Reserve Bank of New Zealand Governor, stated that a strong kiwi is affecting the nation’s exports performance, the New Zealand currency declined versus most of the 16 … “New Zealand Dollar Falls on Central Bank Governor Interview”
Yen Benefits from Japanese Elections
The yen started this week climbing versus several higher-yielding currencies worldwide as Asian stocks declined today, spurring demand for the safety of the yen, which is also benefiting from a new elected party in Japan, renewing hopes for the nation’s socioeconomic future. A new ruling party was elected this weekend in Japan leading speculators to believe that foreign investors will once again inject capital in the country, since the opposition Democratic … “Yen Benefits from Japanese Elections”