Day: July 8, 2009

July 8
2009

Chilean Peso Drops as Copper Declines

Chile, one of the world biggest copper exporters, is witnessing its currency to fall against all majors as the price of the metallic commodity declined due to a new wave of pessimism, which may decrease demand for metals. The Chilean peso posted crescent gains until last week, as optimism and a Chilean central bank dollar selling program caused the currency to rally against the euro and the greenback. After a negative U.S. jobs report last week, […]

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July 8
2009

Consumer Credit Declines and Pushes EUR/USD Down

The euro declined against the U.S. dollar as the oil price was heading down and the U.S. consumer credit continue to fall. The perspectives for the high-yielding assets look not very promising as the commodity/oil prices decrease and the risk-aversion returns to the market. EUR/USD is now trading near 1.3860. Crude oil inventories declined by 2.9 million barrels last week, while the […]

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July 8
2009

Ruble Drops as Crude Oil Rates Continue Decline

Russia, the world’s leading energy supplier and main oil exporter to Europe, has witnessed a considerable drop in its currency as the crude oil price is reaching almost a week of declines, as concerns regarding the global slump may slash global energy demand for the next months. The Russian Ruble has been affected directly by the latest fall in the crude oil rates, which after rallying as the global economy showed several signs of recovery, faced yesterday the longest […]

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July 8
2009

Australian Dollar Hits Two-Week Low on Jobs Data Speculations

The Australian dollar, one of the main high-yielding currencies among the 16 most traded, has been witnessed a sharp decline since last week’s new wave of pessimism struck equities and commodities markets. Since last week the Aussie entered a significant downtrend mainly against the yen and the greenback after a U.S. employment report indicated more-than-expected job cuts in the North American nation, suggesting that the global slump will still be the main world financial scenario […]

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