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Day: July 2, 2009
July 22009
Chilean Peso Faces Biggest Fall in 2 Months
The Chilean peso, which was one of the best performance currencies since April, fell significantly as a U.S. jobs report damped demand for risk and emergent market currencies. The Chilean peso has been having an excellent performance since the nation’s central bank started a dollar selling program two months ago, which spurred the attractiveness for the peso, making it to break several records sequentially, but today’s U.S. negative jobs report […]
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July 22009
Canadian Dollar Drops After U.S. Employment Data Release
The loonie had a day of losses versus virtually all main traded currencies, as U.S. jobs were cut more than what forecasts predicted, damping demand for risk appetite in markets. The Canadian currency had a immediate fall right after a U.S. report indicated more job cuts than what economists forecast, and since Canada’s economy is highly dependent on its trade with the United States, a pessimism report suggesting […]
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July 22009
Swedish Krona Down on Central Bank Surprise
The Swedish krona lost against the euro and the dollar today after the nations central bank unexpectedly cut its benchmark interest rate and stated that the recession is deeper than predicted. The Swedish currency went down after a statement from Riksbank affirming that the current recession in the country requires broader measures to be halted, offering loans of 100 billion kronor ($13 billion) to domestic banks. The extreme majority of economists predicted the interest rates to remain unchanged, but […]
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July 22009
Dollar Rises as Nonfarm Payrolls Drop Fast
EUR/USD declined past the yesterdays open level today as the currency traders reacted on the deeper than expected drop in the U.S. nonfarm payrolls. Worsening of the employment market situation spurs speculations that the recovery from the current crisis may be quite far from now. Going into more risky currencies isnt a good choice in this case. EUR/USD is now trading near 1.4010. Nonfarm payrolls […]
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July 22009
China’s Confidence on Dollar Pushes Greenback Up
The U.S. dollar climbed today after a Chinese Foreign Ministry official stated that the believes in the stability of the greenback, and informed that he is unaware of discussions next week during the G8 meeting regarding eventual substitutes for the dollar as the world main reserve currency. The dollar hit yesterday a three-week low versus the euro after Reuters affirmed that China was discussing […]
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