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Day: August 13, 2009
August 132009
U.S. Retail Sales Push Greenback Down
The dollar lost today versus most of the 16 main traded currencies as U.S retail sales dropped last month, surprising economists which expected a continuous growth following June’s figures. Multiple factors brought the greenback down today as main European countries like France and Germany posted a slower contraction in their economies for this year’s second quarter, raising confidence that the economic conditions have stopped deteriorating in the region. Retail […]
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August 132009
Canadian Dollar Strengthens as Stocks Remain Bullish
The Canadian dollar was traded today at the highest level in this week as stocks and commodities continued to have a positive performance today, helping the loonie to remain strong versus the greenback. After a negative beginning of the week for the Canadian dollar with rising risk aversion and a faltering crude oil, the loonie rebounded as optimism reappeared today mainly in the European session, as countries like Germany and France unexpectedly grew in the second quarter, pushing stocks and commodities up […]
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August 132009
Pound Climbs on Renewed European Optimism
The pound climbed today versus the yen and the dollar, as optimistic reports in Europe brought worldwide traders to bet in a hastening economic recovery in the region, damping demand for safer assets and increasing risk appetite. The pound benefited today from a report in Germany indicating an unexpected growth of 0.3 from the first quarter, being the same figures also perceived in France, while forecasts indicated a contraction of 0.3 percent for both countries. The pound also benefited today […]
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August 132009
Euro Continues Rally on Eurozone Members Growth
The euro gained versus the dollar and other several currencies today as countries like Germany and France indicated a unexpected growth for the previous quarter, surprising traders and analysts, raising the positive sentiment towards the Eurozone currency. A perfect scenario for a bullish pattern in the euro-dollar chart was set today as the German and French economies grew in the second quarter, as the Federal Reserve affirmed yesterday that interest rates in the United States shall remain low for an extended period […]
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August 132009
EUR/USD Goes to Uptrend Despite Bad Outlook from U.S.
The dollar continued its decline against the European currency today even after the macroeconomic reports from U.S. showed a rather bad performance for the economy which is said to be the “first out” of the crisis. The traders are probably still inspired by the positive GDP reports from Germany and France. EUR/USD is now trading near 1.4291. Initial jobless claims rose to 558k during laster week compared to 554k reported […]
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