The Canadian dollar lost today for the first time in more than a week as stocks and the crude oil had their first decline as risk aversion reappeared in financial markets worldwide. The loonie ended a long streak of gains versus the greenback today after an U.S. consumer confidence report indicated a decline beyond estimations, affecting stocks markets and commodity prices automatically, and consequently weakening the extremely commodity-linked Canadian currency. Even with today’s decline, … “Crude Oil Decline Interrupts Canadian Dollar’s Rally”
Category: Forex news
Dollar Remains Bearish as Stocks Rally
The U.S. dollar entered another day of losses versus most of the 16 main traded currencies as stocks worldwide continued to rally, raising investors’ confidence to purchase assets in emergent-markets and other higher-yielding options. The U.S. is facing its biggest losses since last year when it reached $1.60 versus the euro as optimism is back in stock markets, pushing traders to higher-yielding assets. The Australian dollar gained versus the greenback as speculations indicate that the Australian central bank may raise interest … “Dollar Remains Bearish as Stocks Rally”
Australian Dollar Hits Year-High after Central Bank Statement
The Australian dollar reached the highest level versus its U.S. counterpart today after the national central bank Governor affirmed that the current crisis in the country may not be as serious as considered previously. The Reserve Bank of Australia Governor Glenn Stevens stated today that the current crisis which the country is going through may not be the worse after the World War II, as so often stressed by analysts. This declaration helped the Australian currency to climb to the highest level versus the greenback as several … “Australian Dollar Hits Year-High after Central Bank Statement”
Brazilian Real Continues Rally on Trade Surplus
The Brazilian real continued to gain versus the greenback today as renewed demand for Brazilian products helped the national stocks to gain, adding confidence to the real’s outlook. The Brazilian currency is one of the best performing this year versus the U.S. gaining more than 20 percent since January, and today, the account trade surplus helped the real to continue its longest streak versus the greenback, as demand for national products grow globally, and economies around the world start to improve. The real … “Brazilian Real Continues Rally on Trade Surplus”
Canadian Dollar Hits 10-Month High on Improved Confidence
The loonie reached the highest level since October as stocks and commodities rose, improving attractiveness for the Canadian currency. The U.S. dollar is been affected by a strong risk appetite wave, which decreased attractiveness for the greenback, favoring the Canadian dollar, which even if is being considered overdone by several currency strategists, is imposing a rally that brought it to the highest levels since last October, as stocks and commodities continue to rise. USD/CAD dropped to 1.0833 as of 18:32 GMT from a previous rate of 1.0860 … “Canadian Dollar Hits 10-Month High on Improved Confidence”
U.S. Dollar Down Before Home Sales Report
The U.S. dollar started another week losing against currencies like the euro, as a report today is expected to show that home sales in the United States rose significantly, suggesting that the global slump is facing its final days, consequently attracting investors to riskier assets in stocks. The dollar is entering the third week of losses today as multiple factors are pushing the currency down, from … “U.S. Dollar Down Before Home Sales Report”
Yen Drops as Asian Stocks Rally
The yen entered its eleventh day of losses versus most of the 16 main traded currencies as a rally in Asian stocks suggests that evidences indicating the end of the global slump are pushing investors to riskier assets, damping demand regionally for the Japanese currency. A report to be released in the U.S. is leading positive speculations today, as new home sales are expected to rise significantly according to economists, … “Yen Drops as Asian Stocks Rally”
South African Rand Down on Merging Speculations
The South African currency, which hit an eleven-month high versus the greenback this week, pared its weekly gains as an Indian newspaper affirmed that the merging of Bharti with MTN may take longer than expected, raising concerns about investments in South Africa. After posting virtually two weeks of consecutive gains versus most of the 16 main traded currencies, on renewed optimism and stocks rally, the South African rand ended the week with a negative performance as the Economic Times … “South African Rand Down on Merging Speculations”
Canadian Dollar Ends Week High on Government Statement
The Canadian dollar ended another day gaining versus its U.S. counterpart, as government officials affirmed that the country may be already getting out of recession. The loonie posted its sixth day of gains versus the greenback after Canadian government officials said that the country may soon start to grow economically again, continuing the longest winning … “Canadian Dollar Ends Week High on Government Statement”
Mexican Peso Posts Second Weekly Gain on Economic Optimism
The Mexican currency posted another week of gains versus its main trading partner’s currency, the U.S. dollar, as emergent-market currencies profited on higher confidence among traders. Reports mainly in Europe this Friday indicating that the German business confidence improved, triggered speculations that the region may be soon out of recession, and consequently favoring emergent-market currencies … “Mexican Peso Posts Second Weekly Gain on Economic Optimism”