Day: June 4, 2009

June 4
2009

Brazilian Real Falls from Eight-Month High as Stocks, Commodities Drop

Brazil’s Real had the largest drop in six months falling 2.2 percent against the U.S. dollar and declining from an eight-month high, as commodities and stocks declined, reducing capital influx to South America’s most influential economy. After a rocketing rally that made the real to rise 24.6 percent since March 2, the real tumbled the most in six weeks, after a negative day in stock and commodities markets. The main reason that affected the real’s price this week was the remittance […]

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June 4
2009

EUR/USD Down for a Second Day as Productivity Grew

EUR/USD continued to fall today as the ECB kept interest rate unchanged and the U.S. productivity in the first quarter of 2009 rose faster than expected. The currency pair is now trading near 1.4121. Initial jobless claims were at 621k last week, down from 625k reported for a previous week, almost the same as the traders have expected (620k). Nonfarm productivity in the business sector […]

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June 4
2009

Swedish Krona at Six-Week Low as Concerns Rise in Latvia

The Swedish currency hit a six-week low level after speculations rose that Latvia will devalue its currency, as an attempt to save the country from a deep recession, consequently affecting negatively loans held by Swedish banks in the Baltic Nation. According to a note posted this week by Riksbank, an economic deterioration in the Baltic countries is an imminent risk to Swedish banking institutions, since Latvia’s financial system is highly linked and […]

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