Forex News

The U.S. dollar is falling against the euro for the second day today as the traders expect a decline in the contraction of the U.S. GDP for the second quarter of 2009.

The Great Britain pound recovered from the two days of losses against the U.S. dollar and continued to gain against the euro today after the U.K. house prices data was released.

The loonie fell again today after having interrupted its rally versus the greenback on Tuesday due to a fall in crude oil rates, affecting directly the commodity-linked Canadian currency.

The Brazilian currency posted a second day of losses versus the greenback as the national current account showed worse than expected data for the month of June, damping demand for the real in international markets.

The euro is losing since yesterday versus currencies like the yen and the dollar, as a report yesterday showed a decline in consumer confidence in the United States, spurring demand for refuge currencies like the Swiss franc and the yen.

The dollar reverted its trend of already two weeks losing versus several main traded currencies, after speculations that this week’s reports will post rather pessimistic figures, raising attractiveness for the safety of the greenback.

The yen post the first significant gains in more than a week versus currencies like the pound and the euro after risk aversion returned to markets today, pushing investors towards the safety of the Japanese currency.

The Canadian dollar lost today for the first time in more than a week as stocks and the crude oil had their first decline as risk aversion reappeared in financial markets worldwide.

The U.S. dollar entered another day of losses versus most of the 16 main traded currencies as stocks worldwide continued to rally, raising investors’ confidence to purchase assets in emergent-markets and other higher-yielding options.

The Australian dollar reached the highest level versus its U.S. counterpart today after the national central bank Governor affirmed that the current crisis in the country may not be as serious as considered previously.