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Day: December 24, 2009
December 242009
Chilean Peso Rebounds on U.S. Optimism
The Chilean peso had its first advance in five days as optimism towards the U.S. economic recovery returned to trade markets fueling demand for raw materials produced in the South American nation. A U.S. jobless claims report brought risk appetite up once again in commodities markets as speculations suggest that demand for energetic and metallic commodities are likely to rise in 2010, favoring the peso, since Chile is the world’s top copper […]
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December 242009
Canadian Dollar Bullish on Oil Rates, To Gain in 2010
As the crude oil, Canada’s main export to the U.S., continued to climb today, the Canadian currency traded high versus most of the 6 majors currencies, as the loonie’s outlook remains among the best bets for 2010 in foreign-exchange markets. The Canadian dollar outlook remained attractive this week as the crude oil advanced for a third straight day, providing support for the loonie, to gain versus the euro and the pound, and to a lesser extent, versus its U.S. counterpart. After an improving […]
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December 242009
South African Rand Advances on Demand for Metals
The South African rand touched a one-week high versus the U.S. dollar today as demand for several commodities produced in the country emerged, providing support for the African nation’s currency to advance despite negative speculations. Despite analysts overview for the rand, suggesting it may decline as interest rates are likely to be raised in U.S. in 2010, the rand rose today to a one-week high versus the greenback as demand for metallic commodities as the gold and the platinum rose globally, […]
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December 242009
Dollar Rebounds on Jobless Claims
After having its winning streak halted yesterday and earlier today on a negative housing report and as the Fed insisted that economic stimulus will be maintained, the dollar rebounded slightly as an employment report brought optimism back to the currency’s outlook. The U.S. dollar started today’s session losing specially versus the euro after touching the lowest level in December, and also dropped versus the pound and the Canadian dollar as stocks surged globally, but as a jobless […]
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December 242009
EUR/USD High on Fed Dovish Tone
The EUR/USD currency pair had the sharpest advance in two weeks today, after the dollar rallied significantly on speculations that the Federal Reserve could lift stimulus and raise interest rates in U.S. sooner than expected, attitudes so far declined by the U.S. central bank that erased optimism among traders which expected the economic recovery in the country to bring immediate favorable monetary policy changes. Currently EUR/USD remains bullish after […]
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