The loonie is having a rocketing performance versus its U.S. counterpart even after a negative economic report in Canada indicated a higher-than-expected shrinking rate for the nation’s economy, reaffirming the high current risk appetite among traders. The Canadian dollar reached a 10-month high versus the greenback last Friday as traders are heavily driven by risk appetite, betting in commodities and stocks, consequently affecting positively Canada’s currency, which is strongly … “Canadian Dollar Ends Third Week Gaining Versus Greenback”
Category: Forex news
Friday Effect Hurts Dollar but Doesn’t Break Any Levels
Late on Friday afternoon, the US dollar lost ground. It came about the 3 hours after the surprising GDP release. Despite the sharp moves, the dollar just lost its gains from previous, and no significant technical barriers were breached. Maybe next week’s Non-Farm Payrolls will make the market explode. American Advance GDP for the second … “Friday Effect Hurts Dollar but Doesn’t Break Any Levels”
Is GDP Optimism Bad for U.S. Dollar?
The U.S. dollar is falling against the euro for the second day today as the traders expect a decline in the contraction of the U.S. GDP for the second quarter of 2009. The dollar is also falling against the British pound, approaching its monthly low levels, as the GDP optimism is forcing investors to buy high-yielding assets around the world. The gross domestic product advance report for Q2 2009 is expected to show a contraction by 1.5 percent today … “Is GDP Optimism Bad for U.S. Dollar?”
British House Price Data Influence Pound
The Great Britain pound recovered from the two days of losses against the U.S. dollar and continued to gain against the euro today after the U.K. house prices data was released. The Nationwide Building Society reported a third month of gain in the real estate prices in United Kingdom. The average cost of a home went up by 1.3 percent in June, while the average forecast for the growth in June was near 0.2 percent. This news … “British House Price Data Influence Pound”
Canadian Dollar Tumbles Again as Oil Slides
The loonie fell again today after having interrupted its rally versus the greenback on Tuesday due to a fall in crude oil rates, affecting directly the commodity-linked Canadian currency. The Canadian dollar did not manage to rebound versus its U.S. counterpart as stocks and commodities fell today, pushed by a U.S. durable good orders report which indicated rather pessimistic figures for the past month, forcing investors to purchase safer assets … “Canadian Dollar Tumbles Again as Oil Slides”
Brazilian Real Declines on Faltering Trade Surplus
The Brazilian currency posted a second day of losses versus the greenback as the national current account showed worse than expected data for the month of June, damping demand for the real in international markets. The Brazilian real lost today as the trade surplus for the month of June came with less optimistic numbers as estimated by most of the economists, adding concerns about the economic recovery of South America’s wealthiest nation. The real was also affected by a higher … “Brazilian Real Declines on Faltering Trade Surplus”
New NFA Regulations – Confusion is Growing
Some brokers explain how they are compliant with the new NFA FIFO rules, and just cause confusion. Some say that your MT4 EAs will break, and that the only solution is a foreign subsidiary, and others claim that your MT4 EAs will survive the changes only if you join them. 4 days till the ruling … “New NFA Regulations – Confusion is Growing”
Euro Down as Risk Aversion Returns
The euro is losing since yesterday versus currencies like the yen and the dollar, as a report yesterday showed a decline in consumer confidence in the United States, spurring demand for refuge currencies like the Swiss franc and the yen. After being traded at the highest price since June 2, the euro declined significantly versus the greenback as reports in the U.S. this week brought pessimism back among traders. Yesterday’s data indicated that the consumer confidence figures … “Euro Down as Risk Aversion Returns”
Dollar Rebounds Versus Euro on Reports Speculations
The dollar reverted its trend of already two weeks losing versus several main traded currencies, after speculations that this week’s reports will post rather pessimistic figures, raising attractiveness for the safety of the greenback. After yesterday’s consumer confidence report that interrupted a sharp rally among high-yielding currencies and in equities markets, the dollar is gaining for the second day in a row, as speculations suggest that today, another report, this … “Dollar Rebounds Versus Euro on Reports Speculations”
Yen Rebound After U.S. Confidence Report
The yen post the first significant gains in more than a week versus currencies like the pound and the euro after risk aversion returned to markets today, pushing investors towards the safety of the Japanese currency. A report today in the U.S. indicated a decrease in consumer confidence in the month of July, which affect trader’s sentiment towards risky assets in stock markets, raising once again attractiveness of refuge currencies like the Japanese yen and the Swiss franc. The yen … “Yen Rebound After U.S. Confidence Report”