The Brazilian currency continued its rally against the dollar, euro, as the demand for commodities continues to rise on improved economic conditions mainly in Asia, spurring demand for assets in emergent markets. Since the price of commodities rebounded as the global slump started to show its first signs of recovery, the Brazilian currency is witnessing an impressive rally fueled by a combination of favorable factors in the global financial system and economy, to the point that the national central bank eventually buys foreign […]
Read moreThe British pound fell sharply versus the euro and the dollar as a fifth U.K. minister resigned, increasing the already significant concerns on Gordon Browns government stability and the British political future. The United Kingdoms prime minister Gordon Brown is facing a severe crisis in the Parliament, as Pensions Secretary James Purnell resigned this week, being the fifth minister to step down since the beginning […]
Read moreEUR/USD declined today as the unexpected data on the May employment market situation surprised and confused the Forex traders. After growing during the early trading session, EUR/USD is now trading at its Junes low near 1.3965. Nonfarm payrolls decreased by 345k in May after sliding by 504k in April (revised positively from -539k change). That was a complete surprise to the market participants as it was almost twice […]
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