Archive for the ‘News’ Category

Swiss Franc Tumbles on Intervention Fears

Posted by admin on January 20th, 2010

The Swiss currency finally felt the central bankers pressure and declined considerably versus most of its main trading partners’ currencies, on speculations that measures will be taken by the financial authorities to avoid the franc to gain. The Swiss franc dropped even versus the European single currency as some of the bloc’s members are providing negative economic data, evidencing that the Swiss National Bank pressure to halt the franc’s rally is taking effect. The pound was one of the biggest winners versus the franc as the U.K.’s inflation rose beyond forecasts. GBP/CHF traded at 1.6886 as of 22:31 GMT from a previous rate 1.6737 yesterday.

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Euro Slides After German Sentiment Report

Posted by admin on January 19th, 2010

The euro tumbled today versus most of the key-currencies in Europe after Germany published an important economic confidence report with worse-than-expected data, declining attractiveness for the single currency as some of its member countries struggle with a growing budget deficit. The European single currency dropped versus most of the 16 main traded currencies today as the outlook for the economic bloc declined considerably after theGerman ZEW Economic Sentiment report brought negative data to traders, which opted for other currencies in the region and overseas as Germany is the main economy currently using the euro.

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Canadian Dollar Tumbles on Rates Outlook

Posted by admin on January 19th, 2010

The Canadian dollar fell today after the nation’s central bank left interest rates unchanged at an all time record low, declining rate hikes speculations despite the favorable economic data published in Canada during the past few weeks. The loonie dropped versus most of the 16 most traded currencies today after the central bank affirmed that interest rates will remain unchanged until June, decreasing sharply the attractiveness for the loonie as traders expected the good performance of the Canadian economy to produce more immediate results in terms of interest rate hikes.

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Swiss Franc Climbs Despite Intervention Warning

Posted by admin on January 18th, 2010

The Swiss franc gained versus several key-currencies today despite the nation’s central bank concerns regarding the strength of its currency, which already was expressed previously in statements mentioning eventual future interventions to halt the franc’s rally. Even if the Swiss National Bank President Philipp Hildebrand stated last week that franc’s fluctuations will be monitored closely, expressing concern with the Swiss currency high rates, the franc advanced today versus the euro as traders feel it is still undervalued versus the European single currency. According to analysts, the SNB will impose more than verbal interventions anytime soon as long as the franc continues bullish.

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Real Rebounds on Brazilian Stock Market

Posted by admin on January 18th, 2010

After a week of losses versus most of the main traded currencies in foreign-exchange markets, the Brazilian real advanced today fueled by a positive performance in commodities and equities markets. The Brazilian real gained today versus the yen and the U.S. dollar as demand for commodities and optimism regarding the nation’s economy allowed the South American currency to revert a negative trend that lasted five consecutive days. A great sum of capital inflows to Brazilian stocks also influenced on the good performance of the real this Monday. USD/BRL traded at 1.7661 as of 19:54 GMT from an opening rate of 1.7715.

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Pound Climbs on House Prices, Optimism

Posted by admin on January 18th, 2010

The U.K. currency profited today from an increase in the nation’s house prices, fueling even further speculations that the recession might be ending in Britain, attracting investors to purchase pound-priced assets in a day of bullish equities markets in London. In a day of predominant risk appetite as commodities and equities advanced in the U.K., the pound profited from an optimistic scenario in the country as Rightmove Plc, a leading British real estate website, indicated that house prices increased last month, adding evidences for speculations that Bank of England’s current asset purchase program may expire next month and not be extended further, which would certainly allow the pound to climb in foreign-exchange markets.

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Canadian Dollar Continues Bullish Pattern on Commodities

Posted by admin on January 18th, 2010

The Canadian dollar started another week trading high versus its U.S. counterpart as markets that influence its rates rallied in the start of this week, specially energetic and metallic commodities, before tomorrow’s interest rate decision in the North American nation. After a rather bearish past week for the crude oil which posted consecutive days of losses as risk aversion rose in Europe and China, the Canadian dollar benefited from a rebound in the oil rates today, as future contracts advanced for the first time in six days. Canada is also a metallic commodity exporter, and as the copper advanced together with stocks in Europe, the loonie advanced significantly versus the greenback in a rather calm trading session due to a bank holiday in the United States.

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Pound May Climb On Asset Purchase Program Ending

Posted by admin on January 18th, 2010

The U.K. currency may be experience a shift on its sentiment as speculations suggest that the current quantitative easing measures used by the nation’s central bank will be terminated, as the country starts to publish positive economic reports, suggesting that the recession may be ending in the British Isles. This week will be decisive for the pound as inflation yearly numbers are due to be published the next Tuesday, and if forecasts will be confirmed, the numbers are expected to surpass Bank of England’s target below 2 percent for the first time in seven months, fueling even further speculations that quantitative easing measures will be lifted in the U.K.

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Dollar Profits From Global Economic Pessimism

Posted by admin on January 16th, 2010

This Friday’s shift in market sentiment allowed the U.S. dollar to post a weekly advance versus most of the main higher-yielding currencies, as risk aversion rose globally and traders opted by the relative safety provided by dollar-priced assets. The dollar gained significantly versus commodity producer currencies like the Brazilian Real and the Australian dollar towards the end of this week as China’s new lending restrictions raised concerns that demand for raw materials may decline in the country, affecting exports from these countries. The dollar also reverted a losing trend versus the euro and ended the week with a positive result as some of its member countries increasing budget deficit are raising speculations that the currency attractiveness may be impacted among traders, making the European single currency to drop sharply in this week’s last trading session.

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Swedish Krona Gains on Greece’s Budget Deficit

Posted by admin on January 16th, 2010

The Swedish krona ended this week gaining versus the European single currency as Greek’s budget deficit is once again affecting the outlook for the euro, which also declined versus most of the main traded currencies in foreign-exchange markets. The krona ended this week with a third consecutive day of gains versus the euro after Greece’s deteriorating economic health is raising concern towards traders regarding the Eurozone, after European Central Bank President Jean-Claude Trichet affirmed that member countries will not have any privileges. EUR/SEK ended the week at 10.17 from 10.22 on Monday when markets opened.

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Australian Dollar Down on Chinese Risk Aversion

Posted by admin on January 15th, 2010

The Australian dollar was one of the most affected currencies today as speculations that Chinese lending requirements will slow down the global economic recovery impacted traders’ sentiment, declining appetite for high-yielding currencies. The Aussie and the kiwi declined today versus most of the main 16 traded currencies, after one of its main trading partners, China, is likely to reduce property loans after the government set new restrictions for lending money in the nation’s banks, fueling speculations of an economic slowdown and consequently raising risk aversion in trading markets towards the end of this week’s session.

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Canada’s Dollar Retreats on Oil, Risk Aversion

Posted by admin on January 15th, 2010

The Canadian dollar declined versus its U.S. counterpart and lower-yielding currencies as risk aversion rose impacting markets with extreme influence in the loonie rates, those of raw materials and equities, which dropped globally this Friday. The loonie was impacted today as energetic and metallic commodities declined, specially the crude oil, as raw material exports account for more than half of the country’s international trade revenue, in a day of bearish markets in New York and Toronto. China’s new tightening lending policy declined appeal for high-yielding currencies, and despite U.S. mediocre data published in reports this Friday showing a slow down in the country’s inflation, the greenback advanced versus the loonie after touching a three-month low earlier this week.

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Yen Benefits from China’s Lending Restrictions

Posted by admin on January 15th, 2010

Demand for safety rose today as concerns among investors that Chinese lending limits announced this week by the nation’s government may impact the global economic performance, allowing the yen to beat all of the main traded currencies in foreign-exchange markets today. The yen gained today versus greenback as reports in the world’s wealthiest country came slightly below forecasts, also showing a slow down in the inflation. The euro declined sharply versus the Japanese currency as concerns regarding Greek’s budget deficit are still affecting the outlook for the European currency, causing an outflow of capital towards the safety provided by yen-priced assets.

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Australian Dollar Rallies on Interest Rate Outlook

Posted by admin on January 15th, 2010

Once again interest rates are fueling a rally for the Aussie dollar as it happened in the second half of the last year, when the South Pacific currency ranked among the best performing options in foreign-exchange markets. Positive employment data published in Australia this Wednesday is helping the Aussie to rally to high levels versus most of the main traded currencies, as a declining unemployment rate, currently at 5.5 percent and much better than other key-economic regions in the world, is fueling speculations that interest rates will be once again hiked in the country next month.

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Brazilian Real Declines on Treasury Plans

Posted by admin on January 14th, 2010

The Brazilian real posted the fourth straight day of decline versus the U.S. dollar as speculations suggest that the Treasury is likely to start a debt selling plan to buy dollars, declining attractiveness for the real in currency markets. The real touched the weakest level in 2010 today as speculations suggest that overseas investors are leaving the country, and such capital outflows declined appeal for the emerging market South American currency. A Treasury plan that may be used to buy dollars also affected the real’s outlook, in another day of losses versus most of the main traded currencies this week.

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