The yen managed to gain versus most of the 16 main traded currencies today after a negative U.S. housing report brought risk aversion up among investors, which opted for the safety provided by the Japanese currency.

The euro may extend last month’s decline versus emerging markets and commodity linked currencies as the economic recovery expected for the beginning of 2010 may rise appeal for riskier assets, damping demand for the European single currency in foreign-exchange markets.

The Norwegian krone benefited today from a high rise in the crude oil rates, as Norway is one of the main suppliers of energy for the European Union, helping its currency to gain sharply versus the euro in foreign-exchange markets.

This year started with a growing demand for metallic commodities as investors expect that the global economic recovery will rise industries’ needs for raw materials, helping the South African currency to start the year bullish.

The loonie, as the Canadian currency is nicknamed for the image of the waterfowl on the C$1 coin, started the year gaining versus most of the 16 main traded currencies as its chief export, the crude oil, advanced further, naturally forcing the Canadian correlated currency up in foreign-exchange markets.

The U.S. currency is having a negative start in this year’s first session as stocks and commodities rose worldwide, boosting demand for higher-yielding assets and currencies from commodity exporter countries, leaving the greenback in a second plan of attractiveness.

The Australian dollar may start the year gaining against refuge currencies like the yen, and currently not so attractive currencies like the pound and the euro as a global recovery expected for 2010 may trigger stronger demand for commodity exports from Australia, favoring the national currency in foreign-exchange markets.

The Canadian currency rebounded in the end of 2009 despite the nation’s central bank statements that a strong currency can be an obstacle for exporters and consequently to the economic recover, as global demand for commodities rose more than speculations regarding Canada’s central bank position towards loonie.