Day: October 13, 2011

October 13
2011

Czech Koruna Goes Down with Increasing Trade Balance Deficit

The Czech koruna fell today after the report showed the nation’s trade balance deficit widened in August more than was anticipated by market analysts, making the koruna less attractive to investors. The trade deficit rose to 33.65 billion koruna ($1.87 billion) in August from the shortfall of 12.8 billion koruna in July, compared to the median forecast of 16.0 billion. According to the Czech central bank, companies gave away 39 billion koruna as the dividend […]

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October 13
2011

Loonie Lower on Oil Prices, Risk Aversion

The Canadian dollar is heading lower in Forex trading today, thanks to declining oil prices and an increase in risk aversion. Yesterday’s risk rally appears to be over, and concerns about what’s next for the global economy are weighing on high beta currencies like the loonie. Because of its high amount of oil exports, the Canadian economy relies on oil prices to help keep it growing. And, of course, the Canadian dollar’s performance on the currency […]

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October 13
2011

Yen Rises as Chinese Export Growth Slows

The Japanese yen advanced today after the report showed China’s export growth rose with slower pace last month, resulting in shrinking trade surplus. The surplus of China’s traded balance decreased in September from $17.8 billion to $14.5 billion, the smallest since May. The projected figure was $17.1 billion. The yen also gained on the worsening outlook for Germany’s economic growth and the statement of the European Central Bank about the danger of private-sector involvement […]

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October 13
2011

ECB Warning Sends Euro Lower Against the US Dollar

The European Central Bank issued a warning earlier about the dangers of requiring the private sector to take a more active role in sovereign debt bailouts. Germany has been leading the effort to include involvement by private bond holders, and the ECB thinks that such a move could put the entire eurozone at risk. Back in July, eurozone leaders decide that private bondholders could stand a 21 percent loss from Greek debt. Now, […]

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October 13
2011

EUR/USD Rebounds, Resumes Decline

EUR/USD was falling today, started a strong rally at about 14:15 GMT, but now it looks like the currency pair resumed its decline. Today’s reports weren’t far from forecasts, were near the previous reading and likely had little impact on the performance of the currency pair. Yesterday’ FOMC minutes were important, though, as they showed readiness of the US policy makers to stimulate the economy. The euro fluctuated as traders hope […]

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October 13
2011

Swiss Franc Regains Footing as Talks About Ceiling Recede

The Swiss franc strengthened as the speculation the Swiss National Bank won’t boost the cap to the currency made investors to look at the franc with renewed interest. The SNB pegged the franc to the euro on September 6, imposing ceiling for the first time in more than three decades. Since the introduction of the cap the performance of the franc tied to the performance of the euro. Currently, the euro is rising with the advance of the European stocks and the franc follows. The Stoxx Europe 600 Index gained […]

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October 13
2011

Chilean Peso Goes Higher with Copper on Optimistic Mood

The Chilean peso rose today as copper jumped, bolstered by the optimistic outlook for resolution of the debt crisis in the European Union. Futures for delivery of copper in December jumped 13 percent from the low of $2.994 on October 3 to $3.3955 per pound on COMEX. Copper is the main export of Chile. Optimism, caused by the promise of France’s and Germany’s leader to recapitalize the European bank and to resolve the credit problems of the EU, persists and that’s good for commodities and commodity currencies. Copper […]

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