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Day: November 18, 2009
November 182009
Mexican Peso Advances as Rates Won’t Be Cut
The Mexican peso had a positive performance today versus the greenback as interest rates are unlikely to have further cuts, attracting investors to inject capital in the North American country. The peso benefited today from a rally in crude oil rates, that crossed the $80 line per barrel in New York, raising appeal for the Mexican currency since the country is one of the main fossil energy suppliers for the United States. USD/MXN traded at 12.98 […]
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November 182009
Gold, Oil Force Canadian Dollar Up
The Canadian dollar continued to trade high maintaining yesterday’s gains versus the U.S. dollar as gold reached a record high, raising attractiveness for Canadian commodities. The loonie, as the Canadian dollar is often referred to, continued to trade near a four week high versus its U.S. counterpart as the oil, one of the main Canadian exports to the U.S. climbed beyond $80 a barrel, in a day that U.S. posted weak construction industry data. USD/CAD […]
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November 182009
Dollar Down on Interest Rates Speculations
The dollar fell today versus several higher-yielding currencies after speculations from Fed key-members suggested that interest rates in the country may remain at a record low for an extended period, declining attractiveness for the U.S. currency since investors can opt for higher returns in assets overseas. After Federal Reserve Bank of St. Louis President James Bullard affirmed that interest rates in the United States may not start to be hiked […]
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November 182009
Pound Down on Policy Makers Disagreement
The British currency went down today versus the euro and the dollar as a statement regarding a policy makers meeting yesterday indicated divergent opinions concerning the asset-purchase program, declining attractiveness for the pound as the central bank has not found a point of consensus towards the future of the U.K.’s monetary policy. After several days gaining versus major currencies, the pound’s rally was halted today after Bank of England‘s meeting minutes discussions were published, […]
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November 182009
EUR/USD Up on Weak U.S. Construction Data
The EUR/USD currency pair remained bullish during most of today’s session paring previous losses from the beginning of the week, the interest rate outlook in the United States sees no hikes in the mid-term future, shunning away traders from dollar-priced assets. The construction industry provided frustrating numbers today on building permits and housing starts reports, adding pessimism to the already negative sentiment for the greenback. EUR/USD is currently trading at 1.4965. Consumer Price […]
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November 182009
Swedish Krona Posts Biggest Fall in 2 Weeks
After the IMF statements regarding a slower than expected global economic recovery, the Swedish krona posted an intense decline versus the U.S. dollar, as traders opted for safety in a rather turbulent trading session. Several worse than expected U.S. economic reports were published today, declining attractiveness for currencies like the Swedish krona, as the country is relying on a faster economic recovery to save its banking system, which is highly attached […]
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November 182009
Chilean Peso Remains Bullish on Central Bank Statement
The Chilean currency managed once again to break a record this Tuesday after the nation’s central bank confirmed that it will remain the interest rates in the country at a record low for the next semester, improving demand for peso-priced assets. The peso has been having a more than great week as virtually all domestic and international events favored the Chilean currency. Apart from the national central bank statement regarding low interest rates, […]
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