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Day: February 10, 2010
February 102010
Canada’s Dollar Rallies on Optismism
The Canadian dollar profited today from different factors that allowed optimism to penetrate equities and commodities markets, extremely influential on the loonie rates, that touched the highest level in one-week versus its U.S. counterpart. The loonie started the day gaining versus the U.S. dollar on speculations that Greece would be receiving an immediate help from EU members to solve its financial crisis, but as these speculations faded out, the Canadian […]
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February 102010
Greek Tragedy Pulls Euro Down Again
The euro’s advance initiated by hopes that the EU would help Greece to end its fiscal crisis ended today after speculations that the topic will not be brought in the bloc’s summit tomorrow, declining confidence among traders that the Greek budget deficit’s pessimistic scenario is close to an end. A German official announced that solutions for Greece’s growing budget deficit will not be proposed tomorrow, even if […]
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February 102010
Dollar Rebounds Despite Trade Balance Drop
The U.S. dollar pared losses versus the euro today despite the negative numbers brought by a trade balance report published today, since the Greek crisis is still the factor defining market sentiment. The dollar fell yesterday on speculations that an EU summit to be held tomorrow would include a proposal to rescue Greece, but today, as these expectation faded out, the dollar returned to its bullish pattern. EUR/USD currently trades at 1.3734. […]
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February 102010
Yen Declines on EU-Greece Rescue Plan
The yen was the most affected currency by a new wave of optimism started by EU officials statements suggesting that the bloc will help Greece financially to solve its public debt issues, losing specially versus higher-yielding currencies and the euro. The Japanese currency started this Wednesday continuing its losing trend initiated yesterday by renewed optimism that Greece fiscal crisis will end sooner than expected as the European Union signaled […]
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February 102010
South Korean Won Rises on EU-Greece Aid Plan
After several sessions of strong risk aversion affecting emerging market currencies, optimism returned among traders on expectations that an European Union proposal to rescue Greece will boost appeal for riskier assets, allowing the won to outperform other Asian currencies. The following days will be decisive to determine the market sentiment among traders as a EU summit later this week is likely to include a helping plan from some European […]
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