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Day: October 1, 2009
October 12009
Brazil’s Real Drops From Year High on U.S. Jobless Claims
The Brazilian currency touched a one-year high versus the dollar and the pound this week but was unable to continue its rally as U.S. jobless claims came worse than what economists expected, decreasing appeal for emergent market high-yielding currencies. The Brazilian real is an extremely commodity-linked currency, and today, a report indicated an increase in jobless claims in the U.S., affecting negatively equities and commodities markets worldwide, making traders to purchase safer assets […]
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October 12009
Mexican Peso Down on Commodities and U.S. Unemployment
This Thursday was marked by a weak performance for the Mexican currency as the crude oil, one of the main Mexican exports to the U.S. declined further, and jobless claims in the U.S. came with worse-than-expected figures. The United States is the country of destination for 80% of Mexican export products, and as unemployed people applied for benefits last week more than forecasts suggested, the Mexican peso was influenced negatively,. Crude oil rates also influenced negatively […]
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October 12009
Pound Rises on IMF U.K. Outlook
The pound managed to pare early losses versus the euro and the dollar after the IMF affirmed that the United Kingdom will grow more than previously announced for the next year, adding confidence for the British Isles economies. Bank of England Governor Mervyn King set the pound to the weakest level in months versus the euro and the dollar after affirming in a newspaper interview that the current weakness of U.K.’s currency is helpful at the moment since it helps […]
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October 12009
Euro Falls Before G-7 Meeting
The euro, which has been one of the strongest currencies among major pairs this year, fell today before speculations suggested that a Group of 7 finance ministers meeting this week will approach the current euro strong valuation, raising concerns and damping demand for the Eurozone currency. A drop in the euro price versus most of the 16 main traded currencies could be perceived today in markets before G-7 central bankers […]
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October 12009
USD Gains vs. Euro on Positive Income & Spending
EUR/USD dropped today, going below the yesterday’s positive trading session’s open level. The traders probably react on the improved personal income and spending growth report, betting for the faster U.S. economy’s recovery. On the other hand, a growth of the dollar may be a result of the bad jobless claims report. Currently EUR/USD is trading near 1.4554, it also reached it’s lowest level since September 14th today — 1.4518. Personal income […]
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