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Day: July 10, 2009
July 102009
Chilean Peso Declines as Interest Rates Reach Record Low
The Chilean peso hit the weakest level in three weeks as the national central bank slashed the benchmark interest rates to a record low for the South American country. The Chilean central bank set the national interest rates to a record low of 0.5 percent, from a previous level of 0.75, in order to stimulate the emergent South American economy which has also suffered the consequences of the global slump. The copper, one of the main Chilean commodity exports, has also […]
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July 102009
Yen Rallies on Global Slump Insistent Concerns
The yen had one of the best performing days this week as rising concerns that the global slump will be longer than previously expected plagued markets worldwide with high levels of risk aversion, bringing investors to bet on the safety of the Japanese currency. The yen rose against the greenback after U.S. Vice President Joe Biden affirmed that government measures to stimulate the economy may take up to 18 months to work, immediately raising insecurity […]
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July 102009
U.S. Trade Balance Continues Improving, Dollar Gains
The U. S. dollar rose against the euro today as the currency market participants reacted to the improved trade balance deficit report, which showed another decline for the month of May. Also the whole recent trend for going into safer assets is still in its power, helping such currencies as the dollar and the yen to compete in Forex. EUR/USD is now trading near 1.3924. Trade balance deficit decreased to $26.0 billion in May — down from $28.8 billion reported […]
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July 102009
Euro Falls as Eastern European Economies Shrink
The euro is posting its worst weekly performance against the yen in two months and losing against several major currencies as more than 10 Eastern European nations will need loans to rescue their economies from the rising recession in the region. The Eurozone currency weakened against virtually all of the 16 most traded currencies after an article posted in the German newspaper Handelsblatt affirmed that the International Monetary Fund would be already discussing aid plans […]
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