The Russian currency experienced another day of gains after a government official announced today that the country is out of recession, adding attractiveness to the already appealing Russian stock market.

After trading once again near parity with its U.S. counterpart, the Canadian dollar witnessed a significant fall today as the national central bank stated that a strong currency will cause problems and slow down the economic recovery in the country, shunning investors from Canada, at least, temporarily.

The euro continued to remain near a 14-month high versus the dollar today, as concerns regarding the current strength of the European common currency start to emerge among ECB officials, since a strong euro could jeopardize economic recovery in its member countries.

Optimism and risk appetite ignite speculations that the Canadian dollar will soon trade in parity with its U.S. counterpart, as demand for Canadian exports are rising worldwide, as well as stocks in Toronto.

Russia is the main energy supplier to Europe, and this week, as the crude oil continued to extend gains reaching the highest values since it tumbled last year after the global slump, the ruble is gaining, as demand for Russian natural resources are influencing the national currency positively.

After falling from the highest level in more than 14 months towards the end of last week’s session in a day of bearish performance in stock markets, the Australian dollar started this week climbing once again on speculations regarding increased interest rates in the country.

The Australian dollar, together with its New Zealand counterpart are among the best performing currencies in foreign-exchange markets in 2009 after evidences pointed the resilience of South Pacific countries to recover from the crisis, attracting worldwide investors to the region.

The U.S. dollar had a weak performance this week reaching record lows versus the euro and the Australian dollar but managed to pare some of its losses as traders could think the current devaluation may be too severe and that it would not reflect economic fundamentals in the U.S.

The pound had the best performance this week in months after speculations suggest that the national central bank will stop its current asset-purchase program used to stimulate the economy to escape from recession.

The Canadian dollar, which benefited from a high on crude oil markets and traded near parity with its U.S. counterpart witnessed a significant fall towards the end of these week’s session as equities did not perform in favor of the Canadian currency.