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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.

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