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Day: November 24, 2009
November 242009
Yen Gains on U.S. Mediocre GDP Number
Risk aversion rose today favoring the Japanese currency after a U.S. gross domestic product report indicated a slow down in the quarterly growth, creating speculations that the nation’s recovery will take longer than expected, attracting investors to safer bets. The U.S. quarterly GDP report indicated a growth of 2.8 percent from a previous report that showed a 3.5 percent increase, evidencing that the economic recovery in the world’s wealthiest nation […]
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November 242009
Mexican Peso Advances on Fitch Ratings Cut
The Mexican peso rose after Fitch Ratings finally ended a speculations drama and cut the country’s rating one level, making the peso to grow as currently it is one of the cheapest currencies among emergent markets. The Mexica currency touched a one-month high and is set to grow further after Fitch Ratings finally announced a one-level rating cut, ending speculations regarding this topic which lasted for around one month. The peso […]
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November 242009
Canadian Currency Tumbles on Risk Aversion
The Canadian currency, which started the week rallying majorly versus its U.S. counterpart, was one of the worst performers today as commodities and stocks faltered, influencing negatively the outlook for the loonie and other currencies from commodity exporter nations. The Canadian dollar didn’t manage to extend yesterday’s gains since risk aversion rose once again in foreign-exchange markets as U.S. gross domestic product figures had a less significant increase than figures […]
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November 242009
Rand Advances as Recession Officially Ends
The South African rand, one of the best performing emergent market currencies in 2009 fueled by a commodities prices rally, extended its gains further today as a report published showed that the country’s economy returned to growth, adding attractiveness for the already winning rand this year. The official quarterly report published today indicating that South Africa emerged from the worst recession in 17 years helping the rand to advance versus several […]
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November 242009
EUR/USD Down on Slow U.S. Growth Concern
The EUR/USD currency pair was rising considerably after falling yesterday but did not manage to sustain its near to $1.50 level as U.S. gross domestic product data declined significantly from the past quarter, bringing risk aversion back to markets and favoring refuge currencies, specially the yen. At the moment, EUR/USD is at 1.4941. U.S. GDP figures increased at annualized rate of 2.8% according to the second estimate by the Bureau of Economic Analysis. […]
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