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Day: June 16, 2010
June 162010
Canadian Dollar Rises on Better Risk Sentiment
The Canadian dollar strengthened today, extending its rally against the U.S. dollar for a third day, as the equities rebounded, improving the risk sentiment and increasing the appeal of the currencies tied to growth. The loonie’s moves are 89 percent correlated to the Standard & Poorâs 500 Index and 65 percent correlated to crude oil. The 100 percent correlation would mean that the Canadian currency would always move in tandem with the S&P 500 and crude. Russia […]
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June 162010
Japanese Yen Benefits from Uncertainty on Markets
The Japanese yen strengthened today against most other major currencies, including the U.S. dollar and the euro, as the concerns about the outcome of the European sovereign-debt crisis and the struggling U.S. economic recovery. The rumors about the bailout for Spain, despite being dismissed, seriously wounded the euro, causing it to fluctuate between gains and losses. The U.S. housing market brought concerns about the recovery of the nation’s economy. Building permits in May were at a seasonally adjusted annual […]
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June 162010
Euro Goes Down on Speculation that Debt Crisis Threatens Spain
The euro headed down today amid the speculation that the European Union and the International Monetary Fund prepared the bailout for Spain, fueling the concerns that the European sovereign-debt crisis threatens to contaminate European countries. The rumors suggested that the EU and the IMF, together with the U.S. Treasury, prepared the 250 billion euro loan for Spain. The governments of Spain and the EU later dismissed these rumors. Nevertheless, the analysts say that the euro’s rally was merely […]
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June 162010
Rising Oil Prices Pushed Russian Ruble Higher
The Russian ruble gained today, reaching the highest level in more than a week against the U.S. dollar, after the prices for crude oil, the main source of the nation’s export revenue, rose. July delivery for crude oil traded at $76.63 per barrel in New York. The oil prices rose after the gains of U.S. equities signaled that the demand would grow. The Standard & Poorâs 500 Index rose by 2.4 percent yesterday and the Dow […]
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June 162010
EUR/USD Heads Down After Rebound
The EUR/USD dropped today after a speculation arose that a bailout are planned for Spain. This rumor was later dismissed, causing the euro to rebound, but now the European currency is heading down again. The data from the U.S. again showed mixed results. The industrial sector showed good performance, while a data from the housing markets was rather frustrating. EUR/USD trades now near 1.2304. Building permits were […]
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June 162010
Euro Regained Its Strength on Good Stock Markets
The euro pared its losses and extended the rally against the U.S. dollar and the Japanese yen as the global stock markets showed the good performance, spurring the appetite for the risk. The Standard & Poorâs 500 Index rose 2.4 percent to the highest level in almost a month. The gains on the stock markets encouraged the investors to end bet on the currency’s decline and improved their risk sentiment. The European stock markets also experienced the large inflow of the fresh money, which […]
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