The pound started the week climbing versus the yen and the dollar, as stocks rose and the house prices in the U.K. had an increase in the month of June, raising attractiveness for the British currency. The British currency advanced versus the yen reversing a negative trend from last weeks end as the CIT Group Inc. quarterly earnings are expected to be significantly positive, creating speculations that one of the biggest financial groups in the world will not file for bankruptcy as previously stated by some … “Pound Strengthens on House Prices Climb”
Category: Forex news
Dollar Slides as Optimism Attracts Investors to Yield
The U.S. dollar posted the weakest performance versus the euro since May as corporate earnings in North America came better-than-expect and U.S. government reports brought optimism to equities and currency markets, attracting investors to high-yielding options, consequently damping demand for the greenback. The dollar posted significant losses versus most of the 16 main traded currencies after a U.S. housing starts report showed … “Dollar Slides as Optimism Attracts Investors to Yield”
Brazilian Real Posts Biggest Gain in Two Months on Optimism
The Brazilian real, a high-yielding emergent market currency, ended this week’s session climbing massively against the U.S. dollar, as renewed optimism among traders attracted foreign investments, pushing the Brazilian currency up. A report in the U.S. indicating a rise in housing starts for the month of June was the main factor today to boost purchases of high-yield currencies like the Brazilian real and the Australian dollar. The Brazilian real rose 3.7 percent versus the greenback, posting … “Brazilian Real Posts Biggest Gain in Two Months on Optimism”
Chilean Peso Climbs on Copper Price
Chile’s is one of the world’s main copper producer and today this metallic commodity went up after a U.S. report, pushing the Chilean peso to higher levels as risk aversion declined among traders. A report released today in the U.S. indicated a bigger number of housing starts for the month of June, being the jump of 3.6 percent from May the biggest since 2004. Chile is the main global copper producer, and the North American housing … “Chilean Peso Climbs on Copper Price”
Pound Declines as Terrorist Attack Drives Traders to Safety
The pound posted its first day of losses versus the U.S. dollar this week as explosions in Jakarta, the capital of Indonesia, attracted investors to the safety of the greenback, stopping a five-day rally that brought the pound up on renewed economic hopes. The pound was affected by two facts towards the end of the week as the optimism that made it rally versus the greenback slowly faded, forcing investors back to the safety of the yen and the dollar. Complications regarding the future of CIT Group … “Pound Declines as Terrorist Attack Drives Traders to Safety”
Yen Rises After Hotel Blasts in Indonesia
The yen, known for its refuge investment profile, rose for another day versus most of the 16 main traded currencies as explosions in Indonesia brought a certain amount of tension to financial markets in Asia this Friday. After starting the week posting losses versus a significant number of currencies due to a rise in risk appetite among traders, the yen rebounded since yesterday, when concerns regarding CIT Group Inc., which stated that will not … “Yen Rises After Hotel Blasts in Indonesia”
Mexican Peso Falls Again on Crude Oil
Mexico is, together with Canada, one of the main energy suppliers for the United States energy demands, and its national currency, the peso, fell again today as the crude oil declined in New York. The Mexican peso posted the eighth fall in nine days as the price of crude oil declined in New York, consequently impacting the Mexican currency, since one of the nation’s main exports is the oil, which mostly has the United States as its … “Mexican Peso Falls Again on Crude Oil”
Canadian Dollar Down as Crude Oil Declines
The Canadian dollar, which started the week with an outstanding performance as traders, attracted by yield and driven by optimism, bought the loonie, fell today against several currencies as the crude oil, the main Canadian commodity export, declined. The loonie fell for the first time in four days as speculations rose today, that the CIT Group Inc., one of the biggest financial conglomerates in the world, may file for bankruptcy, avoiding risky attitudes from traders, that opted … “Canadian Dollar Down as Crude Oil Declines”
CAD/JPY Going Wild
When most currency pairs are trading in narrow ranges, the Canadian dollar and the Japanese Yen are standing out with exceptional strength. This makes the CAD/JPY very interesting. EUR/USD, GBP/USD and USD/CHF have been consolidating for a long time. No one knows when they will “explode”. For example, EUR/USD is trading sideways between 1.3750 and … “CAD/JPY Going Wild”
Euro Continues Rally Against U.S. Dollar on Risk Appetite
The euro is having one of the most positive weeks against the U.S. dollar in two months, as a risk appetite wave brought investors to purchases euro-priced assets. The euro is climbing significantly against the U.S. dollar and may soon raise concerns that exporters in the region will be affected, if last year’s rally would … “Euro Continues Rally Against U.S. Dollar on Risk Appetite”