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Day: October 20, 2009
October 202009
Bank of Canada Takes Measures to Force Loonie Down
After trading once again near parity with its U.S. counterpart, the Canadian dollar witnessed a significant fall today as the national central bank stated that a strong currency will cause problems and slow down the economic recovery in the country, shunning investors from Canada, at least, temporarily. Bank of Canada held its overnight rates at 0.25 percent as most of economic analysts were expecting, but the tone of policy makers declarations […]
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October 202009
Euro Rally Concerns Central Bankers
The euro continued to remain near a 14-month high versus the dollar today, as concerns regarding the current strength of the European common currency start to emerge among ECB officials, since a strong euro could jeopardize economic recovery in its member countries. A part from currencies based in commodity exporter countries like Brazil and Australia, the euro has been benefiting from the new wave of risk appetite that has been unleashed since […]
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October 202009
EUR/USD Hits New 14-Month High, Bearish Day
Although EUR/USD managed to hit its new record high level (since August 11th, 2008) today, the currency pair is trading in a red zone as the demand for dollar pulls it down. The decreased producer prices and the below-forecast values on housing that were reported in U.S. today press heavily on EUR/USD during the U.S. Forex trading session. The currency pair is trading near 1.4931 now after hitting as high as 1.4993. […]
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October 202009
Canadian Dollar Near Parity With Greenback
Optimism and risk appetite ignite speculations that the Canadian dollar will soon trade in parity with its U.S. counterpart, as demand for Canadian exports are rising worldwide, as well as stocks in Toronto. The Canadian dollar is once again trading near parity with its U.S. counterpart as the greenback suffers from a decreased attractiveness, while Canadian stocks rise, benefiting from rising crude oil prices, that is trading […]
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