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Day: August 19, 2011
August 192011
Oil Doesn’t Stop Falling, Drags Ruble Along
Today the Russian ruble continued to show a downward trend as crude oil continued to decline, dropping below $81 per barrel on the speculation demand for fuel will wane as the global growth is stalling. Currently the Russian currency erased its losses, but it’s unclear how long could it maintain gains. Oil, the main export revenue earner for Russia, slumped 2.4 percent to $80.83 before trading at $80.81. Crude has […]
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August 192011
Korean Won Falls on Anticipation of Crisis
The South Korean won weakened today as signs of faltering global economic growth made investors prepare for a new crisis, making riskier assets less attractive. Financial Supervisory Service Governor Kwon Hyouk Se recommended to chief executives of insurance companies to be cautious in paying dividends and to boost capital as a preparation for a potential crisis. Morgan Stanley cut its 2011 economic growth forecast for South Korea from 4.5 percent to 3.8 […]
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August 192011
Canadian Dollar Feels Pressure from Falling Stocks & Commodities
Outlook for the future of the global economy again worsened among investors, making them less interested in higher-yielding currencies. The Canadian dollar was one of the victims of such pessimistic sentiment. September futures for delivery of crude oil (the major export commodity of Canada) slumped as much as 7.3 percent to $81.15 a barrel in New York. The Thomson Reuters/Jefferies CRB index dropped 2.3 percent. The S&P/TSX Composite index subtracted 3.1 percent. The Standard & Poorâs […]
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