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Day: January 5, 2010
January 52010
Mexican Peso Extends Rally on U.S. Recovery
The Mexican peso is benefiting from the U.S. economic outlook for 2010, as Mexico has the U.S. as the main destination for its exports, both raw and manufactured, and an accelerated growth of its neighbor is helping Mexico’s currency to gain in foreign-exchange markets. The peso continued to profit today from a better confidence towards its main trading partner, the U.S., as well as for increased crude oil rates, since the Latin American nation is one of the main […]
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January 52010
Romanian Leu Hits 6-Month High as Political Crisis Eases
The Romanian leu rallied today versus the euro and the U.S. dollar as interest rates were unexpectedly cut in the country after a political crisis that delayed an IMF bailout finally ended, adding confidence that stability in the parliament will lead the nation towards a faster recovery. After interest rates were cut today to 7.5 percent at the lowest level in a year, the leu rose versus most of the main currencies, as a political crisis ended regarding […]
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January 52010
Pound Declines Before Policy Makers Meeting
The pound lost versus several key-currencies today and specially versus its regional rival, the euro, as traders speculate that U.K.’s financial authorities will insist in quantitative easing measures to stimulate the British economy, affecting the sterling outlook in currency markets. The British currency posted a declining session versus most of the 16 main traded currencies two days before a Bank of England policy makers meeting, where, according to analysts, the current asset […]
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January 52010
Yen Gains on U.S. Weak Housing Report
The yen managed to gain versus most of the 16 main traded currencies today after a negative U.S. housing report brought risk aversion up among investors, which opted for the safety provided by the Japanese currency. The Japanese currency gained the most in four weeks versus the greenback as a pending home sales report frustrated forecasts and indicated a monthly drop of 16 percent, declining risk appetite and favoring the Japanese currency, even if the actual […]
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January 52010
EUR/USD Neutral on Mixed U.S. Economic Data
The EUR/USD currency pair chart oscillated within a considerably low amplitude as mixed U.S. data coming from the real estate and the secondary sector were published today, but with a slight advantage to the euro, which is posting the third consecutive day of gains versus the U.S. currency as traders started the year with a less risk averse approach to investments. Currently EUR/USD trades at 1.4430 posting virtually no changes in the intraday comparison. […]
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