Day: July 9, 2009

July 9
2009

Polish Zloty Climbs as Euro Entry May Start This Year

The Polish zloty, which have severely devalued versus the Eurozone currency when the global slump struck Europe last year, rose today as Polish government affirmed that the euro entry process may start this year for the Eastern European Nation. The Polish Finance Minister Jacek Rostowski stated today in an interview given to Gazeta Prawna that the zloty may be stable enough during this year’s second semester to start […]

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July 9
2009

Brazilian Real Rebounds on Commodities

The Brazilian high-yielding currency, declined for almost a week as concerns regarding the global rose, but today it rebounded as commodities rallied, spurring demand for the South American country’s currency. The Brazilian real had favorable news that supported the currency to post its first gains versus all majors in a week, as car sales in China rose the most since 2006, fueling demand for high-yielding assets. Metallic commodities rebounded today, mainly the copper, […]

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July 9
2009

Australian Dollar Rises on Better-than-Expected Employment Report

The Australian currency rose against the yen from a seven-week low after a report yesterday indicated that unemployment figures in Australia rose less than forecast, spurring demand for the Aussie, which had lost against all majors since last week’s risk aversion wave. After losing more than 3 percent yesterday versus the yen and the greenback, the Australian dollar initiated a rebound influenced by domestic and international news. A report yesterday in Australia showed […]

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July 9
2009

Yen Drops from Four-Month High on Overprice Speculations

The Japanese yen, which was rallying intensively against all majors after a wave of risk aversion struck markets last week, dropped today as Japanese importers sold the currency led by speculations that after this week’s rally, the yen would be overpriced. The yen lost today versus all 16 most traded currencies after a Japanese government official affirmed that the current volatility and extreme valuation of the national currency […]

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July 9
2009

EUR/USD Tired of Falling and Corrects

Not the last role in the today’s recovery in EUR/USD has played the report on the initial jobless claims in U.S., which turned out to be better than the optimistic forecasts predicted. But it’s still unknown whether this correction can be a long-lasting one or not. EUR/USD is now trading near 1.3964. Initial jobless claims were at 565k last week — down by 52k from the week before. It’s the first […]

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July 9
2009

Canadian Dollar Weakens as Crude Oils Decreases

The Canadian dollar slashed its previous gains as the crude oil fell for a sixth day in a row, on concerns that a longer global slump will damp demand for energy in the U.S., the main destination for Canada’s commodity exportation. The Canadian currency reached a seven-week low against its U.S. counterpart as its attractiveness declined significantly on concerns that the global slump will be longer than expected, provoking a new wave of pessimism which brought […]

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