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Day: February 4, 2010
February 42010
Canada’s Dollar Weakens on Pessimistic Markets
The Canadian dollar touched a new record low for 2010 versus its U.S. counterpart as a massive wave of risk aversion irradiating from Europe caused commodities and equities markets to decline worldwide. The loonie was once again affected by pessimism in trading markets globally, as Europe’s budget deficit brought risk aversion back to markets with strong influence in the loonie rates, specially those of energetic commodities and stocks in North America. As appetite for riskier […]
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February 42010
Pound Falls Sharply on BOE Statements
The pound declined today versus multiple important currencies after U.K.’s central bankers stated that quantitative measures may be resumed in the country if the economic conditions fail to improve, adding to the negative sentiment in European markets today. The pound fell versus the U.S. dollar and the Japanese yen as risk aversion gained strength today in Europe as several important economies in the region are struggling to adjust their national budgets, decreasing appetite […]
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February 42010
Eurozone Members’ Budget Struggle Affects Currency
The euro declined today versus virtually all of 16 main traded currencies as European Central Bank officials stressed on the economic difficulties faced by multiple countries using the single currency, declining appetite for traders to purchase assets in the region. The growing budget deficits in southern European nations using the euro are influencing the currency’s rate on an exponential scale as concerns regarding the economic future of countries like Greece, Portugal and Spain are shunning investors […]
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February 42010
Dollar Hits New 2010 Record High
The U.S. currency climbed again versus the euro even if reports published today in North America weren’t surprisingly optimistic, as the Eurozone economic struggle is the main factor moving the EUR/USD currency pair. The ECB made comments today mentioning the rising budget deficits in some nation’s using the single currency, forcing the euro to fall sharply versus the greenback. Currently EUR/USD is at 1.3783. U.S. factory orders advanced 1.0% in December, […]
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February 42010
NZ Dollar Falls on 2009 Record High Unemployment
The New Zealand dollar started this Thursday falling sharply versus virtually all main traded currencies as its unemployment rate reached the highest rates in a decade, suggesting that the South Pacific economy is far from a complete recovery. The kiwi declined significantly after a jobless report surprised forecasts and indicated an unemployment rate of 7.3% in the fourth quarter of 2009, decreasing chances that interest rates will be hiked in the following […]
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