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Day: January 6, 2010
January 62010
Aussie Hits Record High on Commodities
The Australian currency touched the highest level in 2 years versus the euro as commodities rates are fueling the Aussie’s rally, which also gained considerably versus the greenback during today’s session. The Aussie advanced sharply versus the euro, yen and its U.S. counterpart as estimates that a global economic recovery will continue raise rates for the nation’s commodities, helping the Australian dollar to outperform most of the 16 main traded currencies as it happened […]
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January 62010
Dollar Drops on Fed Quantitative Easing Discussions
After December’s Fed meeting minutes went public today, the U.S. dollar declined versus multiple currencies, as policy makers discussed extending economic stimulus to revive the economy if necessary, impacting negatively the greenback’s outlook. The content of a Federal Reserve meeting held in December and published surprised traders and analysts as extending asset purchase programs were among the topics, according to policy makers, if the economy weakens. The U.S. dollar declined versus […]
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January 62010
Metals Fuel Canada’s Dollar Advance
The Canadian dollar continued to advance today versus its U.S. counterpart as demand for commodities are still on the rise, favoring the loonie which is one of the currencies with the highest correlation with commodities charts, specially the crude oil, one of Canada’s chief exports. The year of 2010 started with a very positive scenario for the Canadian currency which gained today before an employment report to be released this week, which, according to forecasts […]
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January 62010
Finance Minister Resignation Forces Yen Down
The yen declined today versus virtually all of the 16 main traded currencies as investors opted for higher-yielding currencies betting on the global economic recovery for 2010, abandoning yen priced assets after Japan’s Finance Minister Hirohisa Fujii resigned today. The yen posted the sharpest losses today versus commodities linked currencies like the Australian dollar, as demand for metallic commodities has been rising since the beginning of the week. The Japanese currency, known […]
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January 62010
EUR/USD Fluctuates on Greek Debt, U.S. Data
The EUR/USD currency pair started the day bearish as Greece’s financial situation once again raised concerns about some of the Eurozone member’s credit ratings, declining attractiveness for the European single currency. U.S. data published today did not impact intensively the outlook for the greenback, as data came slightly disappointing, but within estimates. Currently, EUR/USD trades at 1.4375. ADP employment report indicated a decline of 84k workplaces in December, frustrating forecasts […]
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