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Day: August 28, 2009
August 282009
Dollar Pare Losses on Renewed Attractiveness
The dollar gained versus the euro and the pound in the very end of this week’s session as a bearish movement in stock markets increased attractiveness for the relative safety of the U.S. currency. Continuing in the role of main global reserve currency, the dollar climbed versus its most traded rivals before market closed today, gaining versus the euro and the pound as uncertainties remain strong concerning the global economy recovery, rising attractiveness for the relative safety provided to investors by […]
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August 282009
Russian Ruble Advances on Oil, Equities
The Russian currency had the first gains after three days of losses versus the greenback as the crude oil rates climbed on speculations that demand will rise, suggesting that the one of the main global oil producers will export more of its commodities. Russia is one of the main suppliers of energy for the European Union and since the first signs of economic recovery started to appear in the beginning of the year, the oil, one of Russia’s main natural resource […]
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August 282009
Yen Further Down on Equities Optimism, Unemployment
The yen continued to lose today versus most of the 16 main traded currencies as equities and commodities markets rebounded worldwide yesterday, as the global economic recovery is pushing investors to riskier assets. Today, a Japanese employment report, indicated that 5.7 percent of the workforce in the country is currently not employed, the highest rate since the Second World War, suggesting that the wealthiest Asian nation, even if posting some positive economic […]
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August 282009
EUR/USD Grows Positive Income/Spending Data
EUR/USD rose today at a relatively slow pace after posting its biggest daily gain since August 3 yesterday. The rather good personal income/spending data that came out in U.S. today helped the traders to decide in favor of more risky and yielding assets, including the euro. EUR/USD is now trading near 1.4367. Personal income in U.S. remained unchanged in July compared to June’s value, while the June’s change was […]
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August 282009
Brazilian Real Rebounds from August Lowest Rates
The Brazilian currency touched the weakest level in August today on global economic concerns but rebounded after stocks and commodities climbed worldwide, spurring demand for emergent markets assets. After several days of bearish market on Chinese limitations towards steel and cement production, today equities markets worldwide rebounded, causing a domino effect that provide support for commodities to climb, influencing emergent market currencies like the Brazilian real up, which […]
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August 282009
Canadian Dollar Rebounds on Oil
After two days of losses versus its U.S. counterpart as risk aversion climbed in trading markets worldwide, the Canadian dollar rebounded as stocks as the crude oil reverted their losing trends and gained today. The Canadian dollar was losing sequentially versus the U.S. dollar and the euro after Bank of Canada officials stated that the current loonie rally could affect negatively the country’s growth as Canadian products become less competitive, but […]
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