News

May 1
2009

Yen Weakens on U.S. Economy Recovery Speculations

The yen had a week of losses against the euro and the dollar, as the first signs of economic recovery appear in China and in the U.S. The dollar rose against the yen after Chrysler LLC filed for bankruptcy and will ally the Italian Fiat SpA with the investment of federal funds, as President Barack Obama confirmed this Thursday. The euro has posted […]

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April 30
2009

New Zealand Interest Rate Reaches Record Low at 2.5%

The Reserve Bank of New Zealand cut its benchmark interest rate from 3.0 percent to 2.5 percent to a record low level for the country’s economy. New Zealand was one of the most punished countries by the global slump due to its commodity exporter economic profile and since July, the central bank has continuously cut the national interest rate from 5.75 percent to the current level of 2.50 percent […]

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April 30
2009

Dollar Weakens as Refuge Currencies Lose Demand

The dollar dropped against the euro for the second day in a row as stock market conditions improve, bringing risk appetite back among investors. Refuge investments such as the yen and the greenback are losing ground as risk aversion declines in global markets, pushed by improved economic conditions and confidence in some economies. After rising speculations that Chrysler LLC will go bankrupt, the U.S. dollar fell against most of the world currencies, specially against those […]

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April 29
2009

Euro Climbs as Pandemic Fears Ease

The euro rose against the dollar and the pound as concerns involving the swine flu have eased and the reported economic confidence in the region hit the highest level in a one-year period. The swine flu caused panic in the beginning of the week on speculations that it could deepen the global recession severely, making multiple stock markets to post sharp falls and high-yielding […]

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April 29
2009

Dollar Falls as Economy Shows Recovery

The U.S. dollar and the yen fell as signs that the recession could be ending attracted investors back to riskier assets, making the demand for refuge currencies, such as the greenback, to diminish. The greenback had the second day of losses against the euro on forecasts that a report to be released will show that the U.S. economy contracted at a slower pace in the first quarter while […]

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April 28
2009

New Zealand Dollars Weakens as Pig Flu Spreads

The New Zealand dollar, followed by its Australian counterpart, fell for the second day on fears that the swine flu may deepen the global slump, affecting tourism and high-yielding assets. After  U. S. Regulators told that the Bank of America and the Citigroup are likely to need more capital in the short-term future, the Australian dollar fell below 70 cents for the first […]

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April 28
2009

Yen Rallies Against Euro On Swine Flu Concerns

The yen, regarded as a refuge currency, hit a six-week high against the euro after the World Health Organization affirmed that the swine flu is spread and cannot be contained. The yen had sharply increased since the announcement that the swine flu may become a pandemic health issue, reflecting also in a terrible Monday for the stock markets. In the United States, not only […]

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April 27
2009

Pound Weakens After Former UK Treasury Adviser Declarations

The pound had a bad start this week after former U.K. Treasury adviser Roger Bootle said that a depression might be coming for the national economy as house prices decline. Multiple reasons brought the pound down for two days against the euro, dollar and the Swiss franc. Hometrack Ltd. released a report showing that the real estate prices contracted for […]

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April 27
2009

Spreading Swine Flu Pushes Yen Up

The yen hit a four-week high against the dollar as speculations suggest that the swine flu will deepen the global slump. In these times of crisis the yen has been used by investors as a refuge, and as bad news continue to appear in different parts of the world, the bullying trend for the Japanese currency is likely to continue. The swine flu is already infecting the financial markets […]

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April 25
2009

South African Rand Strengthens After Elections

The South African currency climbed this week against the dollar, after the African National Congress, the winning party, is expected to maintain the current economic policies in the country. In South Africa, for a party to have the right to change the constitution unilaterally, it must reach two-thirds of the votes, and even if the new president Jacob Zuma party did not have it, the ANC […]

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