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Day: December 16, 2009
December 162009
Pound Advances Versus Euro on Employment Data
In another bullish day versus the euro, the pound found support to extend its winning streak after U.K.’s unemployment declined, a strong signal of recovery for the British economy. The pound traded today at a one-month high versus the euro after the unemployment rate in Great Britain posted its first, and unexpected, fall since February 2008, providing support for the British currency to gain in foreign-exchange markets as investors bet on the U.K.’s economic recovery for 2010. EUR/GBP […]
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December 162009
Surprise Rate Hike Pushes Norway’s Krone Up
The Norwegian currency climbed today versus most of 16 main traded currencies after the nation’s central bank rose its benchmark interest rate surprising analysts and attracting traders to krone-priced assets. The Norges Bank contradicted most of forecasts today raising by a quarter-point its interest rates to 1.75 percent alleging it should prevent the Nordic economy to overheat, as the inflation is near the central bank target of 2.5 percent. Norway’s central […]
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December 162009
Aussie Dollar Drops on Monetary Policy Change
The Australian dollar has been one of the best performers in currency markets during the past few months as it was the first country to raise interest rates among the wealthy nations, today the sentiment towards the Aussie changed after surprising statements from the country’s financial authorities. The Aussie fell today versus virtually all of the 16 main traded currencies after the Reserve Bank of Australia Deputy Chairman of the Board Ric Battellino affirmed […]
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December 162009
Dollar Down on Fed Frustrating Statement
The dollar declined versus a number of currencies today after the Federal Reserve signaled interest rates will remain low for a longer period, declining attractiveness for the U.S. currency in foreign exchange markets. After 2 weeks rallying versus most of the currencies, the dollar cooled down today after a Federal Reserve statement reiterating the position of leaving borrowing costs at a record low for an undefined period, affecting negatively speculations that rate hikes could […]
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December 162009
EUR/USD Up on Fed Dovish Tone
The EUR/USD currency pair rose today after the Federal Reserve announced that interest rates in the United States will remain at a record low for an extended period, this fact declined speculations that rate hikes could come sooner-than-expected, halting a rally for the greenback versus the main traded currencies in foreign-exchange markets. At the moment EUR/USD trades at 1.4579. Building permits were at seasonally adjusted annual rate 584k in November as forecasts suggested and from […]
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December 162009
Euro to Tumble Further on Market Sentiment Shift
The euro has been falling steadily since the beginning of the month when it touched the highest rate in 15 months versus the dollar, as speculations emerged in the U.S. that interest rates will be hiked from an all time low, declining attractiveness for the European bloc’s currency. A shift in market sentiment has been punishing the euro towards the end of the year as the outlook for the U.S. economy improved, helping the dollar to gain versus most of the 16 […]
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December 162009
Swedish Krona Down on U.S. Optimism
The Swedish krona has been losing terrain versus the dollar as the U.S. economy signals of recovery has been leaving space for speculations regarding interest rate hikes, declining attractiveness for the Swedish currency. The krona has been suffering from another blow this time coming from North America as the appeal for less tradeable currencies declined, affecting the Swedish currency which already faced problems this semester as Nordic loans in the Baltic […]
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