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Sunday, August 23, 2009

Forex News- Aug.23rd, 2009

Canadian Dollar Hits 2-Week High on Stocks, Crude Oil
The Canadian dollar extended its yesterday’s gains today as optimism rose worldwide regarding the so much waited economic recovery, pushing commodities that influence loonie’s rates up.

Yen Declines On U.S. Home Sales Improvement
The Japanese currency declined before the end of this week’s session on improved U.S. housing data, suggesting that the wealthiest country in the world is finally reacting economically from the worst recession in decades.

Brazilian Real Climbs on European Confidence
The Brazilian real, the best performing currency among the emergent markets, rose today after the German and French positive PMI reports, which brought investors back to riskier assets relying on speculations that the economic recovery has already started.

German Manufacturing Provides Support for Euro Climb

Germany and France posted favorable reports today indicating that the wealthiest countries in the Eurozone may be finding its way out of recession, evidence which helped the euro to gain versus several currencies towards the end of this week’s session.

Goldman Sachs Influences Canadian Dollar Rally
The Canadian dollar traded at the highest level this week after one of the most relevant investment banking corporations in the world suggested that the loonie is likely to gain versus its U.S. counterpart in the short term.

Friday, August 7, 2009

Forex News. 7th Aug. 2009

Australian Dollar Climbs on Employment Data

The Australian dollar is being traded today near a 10-month high as job figures in the country came unexpectedly positive, adding confidence that the South Pacific region will be one of the first global economic areas to find its way out of recession.

Brazilian Real Drops After U.S. Reports

After a report in the U.S. indicating that services industries contracted at a faster pace last month, the Brazilian currency witnessed its first decline in over a week, as concerns regarding the global economy affect emergent markets currencies.

Mexican Peso Climbs on Credit Rating

The Mexican Peso climbed to a 2-month high after Moody’s stated that the country has a stable outlook for investments, erasing speculations that the country would be downgraded for the first time since 1995.

Forex News. 7th Aug. 2009

Canadian Dollar Down as Oil Declines
The Canadian dollar had a second day of negative performance as unemployment in the nation is expected to grow further, damping demand for the loonie

Brazilian Real Falls on Commodities Decline

Brazil’s real, the best performing among the 16 most traded currencies had the most significant fall in more than a month as commodities declined today, pushing investors away from the South American currency

Pound Continues High on Real Estate Market Forecast

The pound is trading near a 9-month high versus the U.S. dollar as multiple news brought traders to the renewed attractive profile of the British currency, which is expecting a rebound in the U.K.’s housing market before the end of the year.