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Day: August 12, 2009
August 122009
Crude Oil Reverts Canadian Dollar Falling Trend
After losing for five consecutive days, the Canadian currency rebounded versus its U.S. counterpart as stocks in Toronto climbed and the crude oil rebounded followed by most of the main traded commodities. The Canadian dollar, which reached a 10-month high versus the greenback during the past week, returned to more reasonable rates as pessimism came back to equities markets following the end of the past week. Today, the Canadian trade deficit diminished more than forecasts, […]
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August 122009
Dollar Slides Before Fed Meeting
The dollar, which rebounded since last Friday as economic reports did not reflect a favorable situation in Asia and Europe, declined slightly versus the euro today, before tomorrow’s Fed Meeting. The Federal Reserve is due to meet to tomorrow and will probably declare that benchmark interest rates in the United States will remain low, affecting the greenback outlook today versus multiple main traded currencies, as low interest rates are […]
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August 122009
Inflation Figures Affect Pound Performance
The pound started another day losing versus the dollar and the euro in the European session as the Bank of England affirmed that the 2 percent inflation target won’t be met, raising concerns regarding the British economy’s health. The yen was one of the biggest winners today versus the pound, after Bank of England Governor Mervyn King stated that it will take time for the Great Britain banking sector to recover from the current delicate […]
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August 122009
EUR/USD Up on Trade Balance Deficit and Fed Decision Expectations
The most popular Forex currency pair gained today, going above the highs of the previous two days, as the traders reacted to the increased U.S. trade balance deficit and the expectations of a liquidity-increasing decision from the Fed later today. EUR/USD is now trading near 1.4200. U.S. trade balance deficit was reported at $27.0 billion for June, following $26.0 billion reported for May. Market analysts expected a growth of the deficit to $28.7 billion […]
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August 122009
Yen Continues Rally on Chinese Minister Statement
The yen is being traded at the highest level in August as Asian stocks declined again, pushing the Japanese currency up for a third day in a row, since bearish markets rise attractiveness for the safe profile of the yen. The best performing currency this week among the 16 most traded is the yen, which is benefiting from a new wave of risk aversion that made traders to purchase safer assets. Today, China’s Commerce Minister […]
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