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Day: November 4, 2009
November 42009
Dollar Down Before Fed Decision
The dollar had a day of losses versus most of 16 main traders before the Fed will publish its monetary policies decisions tomorrow, as investors expect a rather dovish tone in policy makers’ statements. The greenback had its worse session in more than a week as speculations suggest that interest rates to be published tomorrow in the United States by the Federal Reserve are extremely likely to be maintained at a record low, shunning […]
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November 42009
Brazilian Real Extends Gains on Domestic Optimism
Several reasons are providing support for the Brazilian currency to extend this week’s gains as risk appetite rose today increasing demand for commodities, injecting money in Latin American stocks, consequently adding confidence towards the real’s outlook. The Federal Reserve is likely to remain interest rates in the United States at a record low of 0.25 percent tomorrow, fact which is forcing investors to search for higher-yielding opportunities in emergent markets, being Brazil […]
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November 42009
Canadian Dollar Extends Rally Before Fed Statement
The Canadian dollar continued to gain this Wednesday versus the greenback as demand for commodities produced in Canada and stocks worldwide gained significantly, raising attractiveness for the loonie even further, after several sessions of losses during the past week. The Federal Reserve is likely to post statements regarding monetary policy in the U.S. this Wednesday, and according to virtually all economists, rates are likely to remain unchanged, which is good for the Canadian dollar, since […]
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November 42009
Euro Climbs on Stocks Performance
After several days losing to safer currencies like the greenback and the yen, the euro had a sharp increase in its rates today after risk appetite returned to markets, mainly after some financial conglomerates posted earnings for the past quarter. Market sentiment suffered a significant shift today in Europe after Societe Generale SA, one of the biggest banking empires in France with branches around a number of European countries, posted better than […]
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November 42009
Forex Bank or Not?
FXG Bank (or FX Global Bank) is a new Forex broker that was added to the list of brokers on my site today. Despite the word “bank” in its title, it’s based in BVI and is still unregulated. But, in my opinion, that doesn’t matter much — lately, Forex brokers like to take some really weird names to attract more traders. This company is an MT4 Forex broker, which also offers free […]
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November 42009
EUR/USD Beats Weekly High on Fed Optimism
EUR/USD showed the biggest daily growth since early September today and reached a new weekly high as the Federal reserve released a very optimistic monetary policy statement, citing faster recovery and lower inflation, which still allows interest rates as low as they are now. Although the amount of planned purchase of the debt was decreased, the news didn’t reduce the market optimism substantially. The better unemployment report and rising stock markets also […]
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November 42009
Brazilian Real Gains as Stocks Rebound
After posting the sharpest fall in 8 months in the beginning of this week, Brazilian stocks rebounded this Tuesday, providing support for the real to gain versus most of the 16 main traded currencies in foreign-exchange markets. Increased demand for commodities and a rebound in Brazilian stocks provided support for the real to erase some of the losses it posted in the beginning of this week, as traders were confident to reinvest money in Brazilian assets, helping BOVESPA, the biggest national stock […]
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November 42009
Mexican Peso Impacted by Downgrade Speculations
The Mexican peso had a negative day losing versus most of 16 main traded currencies as the national congress approved new tax regulations that may affect Mexican assets attractiveness, shunning investors from the Latin American nation. After a series of new taxes approved by the Mexican congress, fears rose that Mexico will be downgraded in investment ratings, speculations which already affected negatively the peso’s outlook today […]
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November 42009
Pound Remains Weak on U.K. Banking Outlook
The pound continued to be traded at low levels versus the euro and specially the greenback as new evidences that banking conglomerates in the United Kingdom are still facing a complicate situation and will need further stimulus from the government to avoid bankruptcy. The pound tumbled further down today even if recovered much of its losses later on as one of the biggest banking institutions in the country declared that it will borrow more funds from […]
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November 42009
Dollar Up on Banking Sector Problems
The dollar touched the highest level in a month versus the euro after speculations suggesting that banks throughout the world are still facing severe difficulties tor reestablish their financial situation fueled a rally for safety this Tuesday in trading markets. After speculations suggested that the Federal Reserve is discussing future steps regarding interest rates in the United States which remain at a record low level, markets tumbled and demand for safety […]
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