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Day: October 2, 2009
October 22009
Oil Rebound Pushes Canadian Dollar Up
The Canadian currency, which was losing earlier versus the U.S. dollar on pessimism before the G-7 meeting, managed to revert a losing trend as the crude oil rates surged beyond $70 a barrel, raising attractiveness for the loonie. The loonie has managed to end another week gaining versus its U.S. counterpart, since it erased early losses today backed by a rally in the crude oil rates, which are one of the main raw […]
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October 22009
Chilean Peso Down on U.S. Economy Outlook
The United States is one of the main destination for Chilean commodity exports, and negative reports towards the end of this week coming from the U.S. affected negatively the South American currency performance. The Chilean peso lost today versus most of the 16 main traded currencies as stocks and commodities declined after more than expected job cuts occurred in the United States, raising doubts on the North American economy resilience and the global slump length […]
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October 22009
Pounds Ends Another Week Down on Crisis Concerns
The pound has been one of the most affected currencies by the credit crunch last year and during the past three weeks it suffered another substantial decline as the U.K. economic scenario continues to deteriorate and this Friday risk aversion is high again pushing investors towards safety. Today the British currency found obstacles to climb in both domestic and international economy scenarios, as risk aversion rose globally. Nationwide Building Society […]
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October 22009
Dollar Climbs on Grim Economic Forecasts
The dollar kept its previous days trend gaining versus the euro and high-yielding currencies as forecasts suggest that loan defaults and unemployment rates will keep deteriorating, raising risk aversion and adding attractiveness for the safe profile of the greenback. An expected rise in unemployment figures, and a still very complicated credit situation in the United States rose concerns among traders regarding the economic recovery in North America and consequently in a global dimension, slashing earlier gains […]
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October 22009
EUR/USD Jumps Up on Deteriorating Economic Conditions
The euro rose against the U.S. dollar today despite the unexpectedly bad values reported on the two important macroeconomic indicators in United States. With each new trading session it looks like the dollar is becoming more and more positively correlated with the U.S. economy, losing when the fundamentals are bad and gaining when they are good. EUR/USD is now trading near 1.4594. Nonfarm payrolls were reported […]
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