Posts Tagged ‘Rally’

Pound Advances Further Versus Euro on Inflation

Posted by yehya on January 20th, 2010


The British currency had a favorable performance today versus multiple

key-currencies today, beating the euro and the Swiss franc as the country starts to show more evident signs of recovery, attracting investors back to the U.K.

After inflation surpassed analysts estimates and Bank of England’s target today, the pound gained considerably versus most of the main traded currencies, specially versus the euro, as Greece’s budget deficit is still affecting the currency’s outlook, and ths Swiss franc, which had a rally halted as fears of interventions from the nation’s central bank emerged.

EUR/GBP slid to 0.8727 as of 23:41 GMT from a previous rate of 0.8785 yesterday.

If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Swiss Franc Tumbles on Intervention Fears

Posted by yehya 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.

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Swiss Franc Climbs Despite Intervention Warning

Posted by yehya 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.

EUR/CHF traded at 1.4740 as of 21:31 GMT from an opening rate of 1.4753 yesterday.

If you want to comment on the Swiss franc’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Canada’s Dollar Retreats on Oil, Risk Aversion

Posted by yehya 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.

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Australian Dollar Rallies on Interest Rate Outlook

Posted by yehya 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.

AUD/USD traded at 0.9315 as of 00:11 GMT from a previous intraday rate of 0.9241.

If you want to comment on the Australian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Yen Tumbles as Australia Fuels Risk Rally

Posted by yehya 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.

If you want to comment on the Japanese yen’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Dollar Drops Slightly on Fed Comments

Posted by yehya 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.

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Norwegian Krone Tumbles as Commodities Rally Slow Down

Posted by yehya on January 12th, 2010

After several days gaining versus the dollar and the euro, the Norwegian currency slid versus main traded currencies as a bearish day in equities markets and decreased demand for commodities shunned investors from assets in the Nordic country.

The Norwegian krone was affected today as the crude oil, the nation’s chief export, had a decline on its rates after China imposed new lending requirements for banks in the country, affecting markets’ sentiment, consequently impacting stock markets and demand for high-yielding currencies.

USD/NOK traded at 5.6518 as of 19:08 GMT from today’s opening rate of 5.6174.

If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Canadian Dollar Falls on Trade Deficit Surprise

Posted by yehya on January 12th, 2010


The Canadian dollar had its rally towards parity with its U.S. counterpart halted after a monthly trade deficit was posted today, raising doubts that the nation’s economy is not going as good as some analysts like to believe.

The loonie had a disappointing surprise today as Canada posted a trade deficit of more than $300 million while forecasts suggested a surplus of $500 million, surprising traders and affecting the outlook of one of the best performing currencies so far in the beginning of 2010.

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Swiss Franc Retreats After Central Bank Statement

Posted by yehya on January 11th, 2010

The Swiss currency had its previous week rally versus currencies like the pound and the euro halted today after the national central bank took a position against further advances of the franc, as the current appreciation was considered excessive by SNB officials.

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Canadian Dollar Remains Strong on Commodities

Posted by yehya 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.

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Norwegian Krone Falls From 16-Month High

Posted by yehya on January 8th, 2010

The krone fell today from the highest rate since September 2008 as the nation’s government finally expressed concern regarding the currency’s strength, halting a rally versus the euro that started in the end of 2009.

Norway’s Industry Minister Trond Giske affirmed today that the krone may become too strong, fueling speculations that the government may intervene if the currency continues to extend its gains, mostly fueled by renewed demand for crude oil, one of the country’s chief exports.

EUR/NOK closed today at 8.1805 from an opening rate of 8.1622.

If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The kiwi retreated at the end of last week on a rise in risk aversion

Posted by Forex News Resource on November 2nd, 2009

The kiwi dollar struggled on Friday enabling the pound to jump 1.4%, briefly nearing the 2.30 level, as risk appetite in the market waned.

  • Higher-risk currencies struggled to make headway at the end of last week as the rally in global equities in the wake of the positive US GDP data came to an abrupt halt.

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

Posted by Forex News Resource 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.

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The euro lost ground to the dollar on Friday as the rally in equities came to a halt

Posted by Forex News Resource on November 2nd, 2009

The dollar strengthened, consolidating after broad selling on the back of data showing strong US growth, gaining over a cent on the single currency.

  • Equities took a sharp downturn at the end of last week, having rallied after the positive US GDP data, most likely as a result of end of month profit taking, which buoyed demand for the greenback.

Click to continue reading “The euro lost ground to the dollar on Friday as the rally in equities came to a halt”

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