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Day: November 16, 2009
November 162009
Chilean Peso Breaks Another Record on Copper Rise
The main Chilean metallic export provided support for the peso to reach the highest level in 16 months versus the greenback as demand for copper is on the rise after global economies showed further signs of recovery this Monday. Risk appetite in trading markets remained high this Monday after Japan posted a higher than expected quarterly growth, raising attractiveness for emergent markets assets and providing support for the peso to establish another record high […]
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November 162009
Growth Forecast Sets Brazilian Real High
The Brazilian real benefited today from positive events in both domestic and international spheres as risk appetite rose worldwide, maintaining the Brazilian currency as the best performing currency among the main traded in foreign-exchange markets in 2009. Brazilian and global stocks rose today after the Japanese currency posted a higher than expected growth and a the majority of analysts agree that the South American economy will expand more than previously imagined in 2010, forcing […]
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November 162009
Bullish Week Start for Canadian Dollar on Stocks
The Canadian dollar continued its previous week rally this Monday as risk appetite remained strong globally, increasing demand for Canadian commodity exports and creating an attractive scenario in Toronto equities markets, as appeal for safety declined, forcing the greenback down. The Asia-Pacific Economic Cooperation forum agreed that stimulus for economies to become more solid should remain for a certain amount of time, which caused risk appetite to rise this Monday, […]
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November 162009
Japan Growth Force Greenback Down
The U.S. dollar started this week losing versus its Canadian counterpart and the euro as the wealthiest economy in Asia posted an unexpected quarterly growth, signaling traders that economic conditions in Asia are improving driving capital flows towards high-yielding options. The U.S. currency had a poor performance this Monday after the Japanese economy posted a preliminary gross domestic product growth of 1.2 percent for this year’s third quarter, a much […]
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November 162009
Bullish or Bearish Bias in Forex?
When the average number of long trades is higher than the average number of bearish trades due to some fundamental or technical reasons, it is said that the market is in a bullish bias. If the short trades prevail then it’s called a bearish bias. Stock market is known to have a rather strong bullish bias as it’s much easier for investors to buy the stocks rather than sell. Forex, on the other hand, […]
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November 162009
EUR/USD Approaches 1.5 on Positive Retail Sales
The dollar traded lower against the euro during the trading session today and came close to the euro’s major resistance level near 1.5000. EUR/USD benefits from the unexpected jump in the retail sales reported for October, ignoring the disappointing data on the manufacturing sentiment index. The currency pair is currently trading near 1.4975, maintaining a strong long-term bullish trend. U.S. retail sales increased at a seasonally adjusted rate of 1.4% in October after falling […]
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