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Day: September 23, 2009
September 232009
Canadian Dollar Declines on National Bank Statement
Canada has been one of the fastest economies to recover from the recession that impacted the world last year, but the Bank of Canada is stressing on the fact that strong currency may delay the economic rebound in the country, affecting traders’ sentiment towards the loonie. According to Bank of Canada officials, interest rates will be maintained at a record low in Canada until 2010, suggesting that even if the country is recovering from […]
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September 232009
Risk Appetite Continues to Punish Greenback
The dollar proved itself unable to resist a new wave of risk appetite this week that set the greenback to the lowest levels in 2009 versus several currencies in virtually all economic regions in the world, as traders are confident to take risks and purchase higher-yielding options. Multiple currencies around the world either gained or continued at high levels today versus the greenback as the Federal Reserve is likely to indicate that borrowing costs in the world’s wealthiest […]
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September 232009
Pound Rebounds on BOE Plans
The British currency managed to revert a downtrend versus the dollar, euro, and several other main traded currencies after the Bank of England signaled it will not continue its asset purchase program, one of the greatest responsible for the pound losses this year. The pound managed to rebound today in currency markets after key people in Bank of England reached a consensus to stop the current asset purchase program, which has been one of the most […]
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September 232009
EUR/USD Down After FOMC Claims
EUR/USD managed to reach its new high level since late September 2008 and then went down below the daily open level today. The FOMC decision played the major role in today’s decline of the euro against the U.S. dollar. Currently EUR/USD is trading near 1.4764 after reaching as high as 1.4842 earlier today. U.S. Federal Reserve decided to leave the interest rate unchanged between 0% and 0.25% but slowing […]
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September 232009
Rand Pare Losses on Rates Speculations
The South African rand erased losses from the beginning of the way today on speculations that interest rates in country will not be cut, raising attractiveness for the high-yield profile of the South African currency. The South African currency lost only to the Romanian leu today among currencies that gained versus the U.S. dollar, as speculations indicate that interest rates in the country will not be cut further, and inflation figures in the country remain […]
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September 232009
Record High for Brazilian Currency as Stocks Climb
The Brazilian currency was one of those which benefited today from a growing optimism in stocks and commodities markets, attracting traders to emergent markets and setting the highest rate for the Brazilian currency versus the greenback since the global slump started last year. Moody’s Investors Services upgraded their outlook towards Brazil, granting the South American nation with an investment grade level, which helped the already attractive real to extend its gains […]
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