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Day: November 28, 2016
November 282016
Canadian Dollar Follows Crude Oil to Upside, Rally in Danger
The Canadian dollar rallied against most of major peers on Monday, tracking the rise of crude oil prices. There is a decent probability, though, that the crude’s rally will fizzle soon, dragging the loonie down. Crude oil futures demonstrated significant gains on Monday. Considering that the Canadian currency often follows the moves of the commodity, it is not surprising to see the loonie rising on Monday as well. The problem is that the rally […]
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November 282016
Canadian Dollar Follows Crude Oil to Upside, Rally in Danger
The Canadian dollar rallied against most of major peers on Monday, tracking the rise of crude oil prices. There is a decent probability, though, that the crude’s rally will fizzle soon, dragging the loonie down. Crude oil futures demonstrated significant gains on Monday. Considering that the Canadian currency often follows the moves of the commodity, it is not surprising to see the loonie rising on Monday as well. The problem is that the rally […]
Read more
November 282016
Euro Rises Against Few Rivals, Retreats Versus Most
The euro was mixed today, rising against the Great Britain pound and the Swiss franc, but falling against other most-traded currencies, even losing its earlier gains versus the US dollar. Mario Draghi, President of the European Central Bank, was speaking in Brussels today, and he was relatively upbeat, saying: The euro area economy continues to expand at a moderate but steady pace, despite the adverse effects of global economic […]
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November 282016
Euro Rises Against Few Rivals, Retreats Versus Most
The euro was mixed today, rising against the Great Britain pound and the Swiss franc, but falling against other most-traded currencies, even losing its earlier gains versus the US dollar. Mario Draghi, President of the European Central Bank, was speaking in Brussels today, and he was relatively upbeat, saying: The euro area economy continues to expand at a moderate but steady pace, despite the adverse effects of global economic […]
Read more
November 282016
British Pound Tumbles on Renewed Brexit Concerns
The pound opened trading this week with a negative decline today following new reports that pointed at increasing legal difficulties for the United Kingdom to maintain its access to the single market area in Europe within a Brexit scenario. Currency traders lowered their demand for the currency to an extremely weak level today, which forced the British currency to perform poorly. Tradersâ caution was stoked by a renewed worry that the UK government will […]
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November 282016
British Pound Tumbles on Renewed Brexit Concerns
The pound opened trading this week with a negative decline today following new reports that pointed at increasing legal difficulties for the United Kingdom to maintain its access to the single market area in Europe within a Brexit scenario. Currency traders lowered their demand for the currency to an extremely weak level today, which forced the British currency to perform poorly. Tradersâ caution was stoked by a renewed worry that the UK government will […]
Read more
November 282016
US Dollar Drops Against Yen as Traders Collect Profits
The dollar retreated as it trailed a drop in the yields of US Treasury notes on Monday. The greenbackâs decline followed increased worries that the Organization of the Petroleum Exporting Countries might fail to reach a deal to cut output in a meeting later this week. Investors reversed some of the US currencyâs gains over the past 3 weeks as caution overshadowed trading today, ahead of a busy week for data releases and economic events. Oil producers within OPEC […]
Read more
November 282016
US Dollar Drops Against Yen as Traders Collect Profits
The dollar retreated as it trailed a drop in the yields of US Treasury notes on Monday. The greenbackâs decline followed increased worries that the Organization of the Petroleum Exporting Countries might fail to reach a deal to cut output in a meeting later this week. Investors reversed some of the US currencyâs gains over the past 3 weeks as caution overshadowed trading today, ahead of a busy week for data releases and economic events. Oil producers within OPEC […]
Read more
November 282016
Malaysian Policy Makers Fail to Prevent Ringgit Sell-Off
The Malaysian ringgit slipped against the US dollar today as efforts of Malaysian policy makers to limit currency speculation failed to prevent a downfall of the ringgit. The Bank Negara Malaysia sent letters to offshore bank, demanding that they and their clients stopped trading the ringgit on the non-deliverable forward markets. Yet according to the Bank, only a half-dozen offshore firms agreed to sign the letters. The ringgit was the worst-performing Asian currency, falling almost 7% over […]
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November 282016
Malaysian Policy Makers Fail to Prevent Ringgit Sell-Off
The Malaysian ringgit slipped against the US dollar today as efforts of Malaysian policy makers to limit currency speculation failed to prevent a downfall of the ringgit. The Bank Negara Malaysia sent letters to offshore bank, demanding that they and their clients stopped trading the ringgit on the non-deliverable forward markets. Yet according to the Bank, only a half-dozen offshore firms agreed to sign the letters. The ringgit was the worst-performing Asian currency, falling almost 7% over […]
Read more