Posts Tagged ‘Economic Recovery’

Economic uncertainty prevails in rupee as it slided 10%

Posted by Tushar Mathur on October 3rd, 2011

In a period of three months gap the rupee has slided down for nearly 10% against dollar. The high inflation has already laid a pathway to the global economic uncertainty in Asia’s economy. The import prices of oil, fertilizers food stacks like pulses and other fuel to rise double in their price and made many poor to struggle for it.

Head of RISDC of New Delhi, Biswajeet Dhar said that the India requires some imported inflation which may develop the economic status of it. Now the phase, that the rupee meeting up is the even higher inflation.

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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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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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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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Canadian Dollar Continues to Profit on Commodities

Posted by admin on January 14th, 2010

Speculations that demand for commodities will continue to grow in the U.S. and globally are helping the Canadian dollar to benefit from this scenario as exportation of raw materials account for half of the country’s trading revenue. The Canadian rose against almost all of the 16 main traded currencies as metallic and energetic commodities abundant in the country are experiencing a high demand as the global economic recovery spurs demand for raw materials. Canadian fundamentals are also stronger than most of its main trading partners, and the loonie rose versus the greenback today as U.S. retail sales declined, touching the highest level in three months versus its U.S. counterpart.

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Yen Tumbles as Australia Fuels Risk Rally

Posted by admin on January 14th, 2010

The Japanese currency declined in the beginning of this Thursday’s session on Australia’s better than expected employment data, which increased attractiveness for riskier assets as the South Pacific economy recovery improves confidence among traders. The yen, known as the best refuge currency for times of uncertainty, declined today as unemployment surprisingly fell in Australia, bringing Japanese investors to buy riskier assets overseas, as the Australian economic recovery indicates better economic conditions not only in the South Pacific region but also among its main trading partners. AUD/JPY traded at 85.01 as of 02:35 GMT from a previous rate of 83.89 in the intraday chart.

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Australian Dollar Climbs on Unemployment Rate

Posted by admin on January 14th, 2010

The Australian dollar climbed after employment figures were published in the country with better-than-expected numbers, adding confidence that the economic recovery in the country is accelerating its pace, spurring demand for assets in the South Pacific region. After unemployment in Australia declined to 5.5 percent and surprised forecasts that expected an increase, the Aussie dollar gained versus most of the main traded currencies, specially lower-yielding options like the Japanese yen, impacted by the growing risk appetite in Australia. AUD/CAD traded at 0.9579 as of 02:27 GMT from 0.9504 hours before the employment figures were published in Australia.

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Dollar Drops Slightly on Fed Comments

Posted by admin on January 13th, 2010

The dollar had a mediocre performance today losing versus a considerable number of currencies after the nation’s central bank was not so optimistic regarding the U.S. economy recovery, declining appeal for the greenback. The dollar posted a disappointing performance in a day were equities and commodities markets increased appeal for higher-yielding currencies. The British pound posted another advance versus the greenback as Bank of England’s policy markers signaled that interest rates in the U.K. are due to be hiked at some point this year. The Federal Reserve stated that a modest economic recovery is taking place in the U.S., fact which traders interpret as a delay in forecasts of interest rate raises, which is certainly declining the attractiveness that fueled a dollar rally versus most of the main traded currencies in December.

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Canadian Dollar Rebounds After Bearish Days

Posted by admin on January 13th, 2010

The Canadian dollar profited from a higher risk appetite session today and rebounded versus the yen and its U.S. counterpart as equities rose in North America, allowing the correlated loonie to profit from this trading scenario. After two days losing in currency markets as concerns that the Canadian economic recovery is not as robust as analysts suggested, the loonie rebounded today, profiting from a positive performance of stocks and commodities, which have an extreme influence in the Canadian currency rates as raw materials exports are responsible for a big cut on the country’s international trade. The Canadian dollar also benefited from a less attractive U.S.

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Pound Strong Versus Dollar on Global Recovery

Posted by admin on January 12th, 2010

The U.K. currency extended Friday’s gains versus the U.S. dollar today as global optimism helped speculations that an economic recovery in the U.K. will make its currency more attractive in foreign-exchange markets. A business report published today by a private company in the U.K. indicated that confidence regarding economic conditions has improved substantially in an annual comparison, helping the pound to post another day of gains versus the greenback after a Chinese trading report suggested that the global economic recovery expected for 2010 is so far being confirmed, as both exports and imports climbed in China.

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Canadian Dollar Remains Strong on Commodities

Posted by admin on January 11th, 2010

The Canadian currency started another week strong versus several main traded currencies, specially lower yielding options, as demand for commodities continues to bring capital to Canada, the biggest oil supplier for the United States. The rising demand for energetic and metallic commodities is helping the loonie to remain as one of the best bets in foreign-exchange markets in the beginning of 2010, as commodities exports are responsible for around 50 percent of Canada’s international trading capital inflows. This Monday, the Canadian currency gave another step towards parity with its U.S.

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Having weakened off sharply on Friday, the aussie is trading strongly against the pound this morning

Posted by admin on November 2nd, 2009

The pound climbed just over two cents against a broadly weakened aussie dollar on Friday with a rise in risk aversion putting selling pressure on the higher-yielding currency. Weak data in the US and plummeting global equity markets enable the pound to gain as investors took the opportunity to cash profits in the aussie and retreat to safer assets. Analysts have recently noted that the rally in risky assets could come to an end. Conditions for perceived riskier assets to gain requires a flow of positive economic data combined with loose global monetary policies and low interest rates.

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Pound edged up slightly against the euro on Friday but is down around 0.7% in trading this morning

Posted by admin on November 2nd, 2009

The pound edged higher, achieving its biggest weekly advance against the euro since January, as signs pointed to the UK economic recovery talking hold. The pound/euro pairing was little changed at the end of last week, though sterling did creep up, supported by reports showing gains in consumer confidence and UK house prices. Month-on-month property prices were up for the sixth consecutive month in October and were 2% higher than in the same month the previous year. However, the pace of monthly price rises has eased, going up by just 0.4%.

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The pound continues its rally against a broadly weaker aussie

Posted by admin on October 28th, 2009

Sterling edged up against the aussie yesterday, benefiting from improved UK sales data, which supported claims that the UK economy is recovering. On Monday evening, MPC member Adam Posen, following negative GDP data, stated that there were still signs of an economic recovery even if Britain is behind other countries in pulling out of the recession. His statement found support yesterday after the UK CBI sales showed month-on-month improvement, beating market expectations and buoying demand for the UK currency. The UK currency has pushed higher in trading this morning after investors pared bets of a steep rate rise in Australia after inflation data did not increase by as much as some had anticipated.

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Pound pushes up against the euro, spurred by positive sales figures

Posted by admin on October 28th, 2009

Sterling pushed back over 1.10 in trading yesterday as data revealed a pick-up in UK realised sales dulling concerns over the health of the British economy. The pound continued to recover last week’s losses as the UK CBI realised sales index revealed a significant monthly increase in sales volumes, beating market forecasts. Conversely data also showed that lending to the eurozone’s private sector declined in September compared with the same period a year earlier, highlighting notable constraints on financing to companies and households that could damage the region’s economic recovery.

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