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Day: July 17, 2009
July 172009
Brazilian Real Posts Biggest Gain in Two Months on Optimism
The Brazilian real, a high-yielding emergent market currency, ended this week’s session climbing massively against the U.S. dollar, as renewed optimism among traders attracted foreign investments, pushing the Brazilian currency up. A report in the U.S. indicating a rise in housing starts for the month of June was the main factor today to boost purchases of high-yield currencies like the Brazilian real and the Australian dollar. The Brazilian real rose 3.7 percent versus the greenback, posting […]
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July 172009
Chilean Peso Climbs on Copper Price
Chile’s is one of the world’s main copper producer and today this metallic commodity went up after a U.S. report, pushing the Chilean peso to higher levels as risk aversion declined among traders. A report released today in the U.S. indicated a bigger number of housing starts for the month of June, being the jump of 3.6 percent from May the biggest since 2004. Chile is the main global copper producer, and the North American housing […]
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July 172009
EUR/USD Declines Despite Good Housing News
Dollar seems to be reacting positively to the good news from the U.S. housing market, despite the fact that improvement in the real state sector signalizes the recovery of the economy, which usually leads to the rise of the high-yielding currencies and the fall of the low-risk currencies (such as dollar). EUR/USD is now trading near 1.4103. Housing starts reached an annual seasonally adjusted rate of 582k […]
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July 172009
Pound Declines as Terrorist Attack Drives Traders to Safety
The pound posted its first day of losses versus the U.S. dollar this week as explosions in Jakarta, the capital of Indonesia, attracted investors to the safety of the greenback, stopping a five-day rally that brought the pound up on renewed economic hopes. The pound was affected by two facts towards the end of the week as the optimism that made it rally versus the greenback slowly faded, forcing investors back to the safety of the yen and the dollar. Complications regarding the future of CIT Group […]
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July 172009
Yen Rises After Hotel Blasts in Indonesia
The yen, known for its refuge investment profile, rose for another day versus most of the 16 main traded currencies as explosions in Indonesia brought a certain amount of tension to financial markets in Asia this Friday. After starting the week posting losses versus a significant number of currencies due to a rise in risk appetite among traders, the yen rebounded since yesterday, when concerns regarding CIT Group Inc., which stated that will not […]
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