Archive for December 2009

South African Rand Advances on Demand for Metals

The South African rand touched a one-week high versus the U.S. dollar today as demand for several commodities produced in the country emerged, providing support for the African nation’s currency to advance despite negative speculations.

Dollar Rebounds on Jobless Claims

After having its winning streak halted yesterday and earlier today on a negative housing report and as the Fed insisted that economic stimulus will be maintained, the dollar rebounded slightly as an employment report brought optimism back to the currency’s outlook.

Romanian Leu Hits Record High on New Prime Minister

The Romanian leu touched the highest level in three months versus the euro after the country’s parliament chose its new prime minister, lifting speculations that a political crisis could influence the country’s economy negatively.

Russia’s Ruble Climbs Further as Oil Touches $75

The Russian currency benefited from another day of growing demand for the crude oil, providing support for the ruble to advance versus the euro, dollar and the pound, as the demand for energy rises in the coldest season of the year in the Northern Hemisphere.

U.S. Dollar Declines on Frustrating Housing Report

A long winning streak for the greenback versus currencies like the euro and the Aussie dollar was stopped after a housing report was published today bringing rather negative figures much below estimates, providing support for other currencies to pare losses versus the U.S. dollar.

Pound Falls Further on BOE Meeting Outcome

The pound declined for another day after policy makers agreed unanimously to extend stimulus in order to rescue the faltering British economy from the longest recession in the last decades, decreasing attractiveness for an already weakened currency in foreign-exchange markets.

Home Sales Optimism Sets Greenback to Record High

The U.S. currency touched a three-month high versus the European common currency as another favorable report, this time in the real estate sector, attracted more investment towards the recovering North American currency.

Russian Ruble Rally Halted After OPEC Meeting

The Russian ruble, which gained during the past three days as the crude oil rates advanced globally, had its rally stopped today after decisions taken in an OPEC meeting in Angola, which influenced the oil prices.

Canadian Dollar Top Performer on Interest Rates Outlook

The Canadian dollar advanced for a third day in a row after favorable reports showed improving economic conditions in the North American nation, suggesting that interest rates in the country may be hiked sooner than expected.

Pound Suffers on U.K.’s Recession Numbers

The pound declined today versus the euro and the U.S. dollar as the Great Britain did not manage to find its way out of recession like multiple wealthy nations around the world already did, shunning investors from pound-priced assets in currency and equities markets.

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