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Day: May 8, 2009
May 82009
Russian Ruble Rises as Oil Hits Six-Month High
The Russian currency and stock market posted a week of gains as the price of oil rose, pushed by rising demand in Asia, the MICEX Index is at its highest level since October. The MICEX Index, a reference in the Russian stock market compromising 30 of the most relevant stocks, rose above 1,000 for the first time since October, and also pushed by rise of the crude oil in New York, […]
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May 82009
Dollar Slides Against Euro Before U.S. Job Reports
The dollar has posted its third week of losses against the euro, mainly due improved world financial conditions, shrinking demand for refuge currencies. A report to be released in the U.S. is expected to show that employers are cuttings jobs at a slower pace, which would decrease demand for refuge currencies, such as the greenback. The depreciation of the dollar was also heavily influenced by the ECB […]
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May 82009
EUR/USD Rallies to Monthly High after Nonfarm Payrolls
EUR/USD rose for a second day today and reached the highest value in more than a month after the U.S. employment declined at a less than expected rate. Traders felt more confidence in the high-yielding assets and turned to stock and euro buying, dumping the low-yielding greenback. EUR/USD is now trading near 1.3488. Nonfarm payrolls decreased by 539k in April instead of the expected 600k. In March […]
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