The Canadian dollar had a disappointing start this week as a combination of global pessimism and optimism exclusively to the U.S. economy declined appeal for currencies tied to growth, but today the loonie ended its losing trend on more favorable news for its currency outlook.

After gaining since the beginning of this trading session on speculations that a robust U.S. economy would provide grounds for borrowing costs to rise in the following months, the dollar slid as government officials stated otherwise.

The Swiss franc advance has been a subject of great concern among central bankers in the tiny European nation as exporters are being affected by its high prices, raising speculations that the SNB is selling the currency to prevent its advances.

The Japanese yen, known as the safest bet in forex markets during times of uncertainty, profited today from negative releases in both Europe and North America, allowing the Asian refuge currency to post the sharpest gains versus currencies tied to growth.

The sharp and strong economic recovery expected by some analysts for this year has not yet been confirmed, and new concerns regarding the global economic future influenced negatively the demand for Canadian exports and consequently for its currency.

The euro started another week losing versus its main rivals as traders’ confidence towards investments in the region continued to fall, considering that no concrete solution was proposed to end the fiscal crisis affecting several countries using the single currency.

The Australian dollar is profiting from speculations that a new series of interest rate hikes is likely to follow in the South Pacific nation, as its economy continues to improve, allowing the currency to gain versus its main rivals on foreign-exchange markets.

The Polish currency started another week gaining versus the euro as the economic recovery in the country and in other regions around the world, specially in North America, is making traders to bet in the zloty regionally, considering the Eurozone current crisis.

The Canadian currency didn’t manage to continue its last week rally as stocks and commodities markets had a less optimistic performance this Monday, setting the loonie down versus its U.S. counterpart and the Japanese yen.

The outlook for the European currency is perhaps the worst since its introduction in 1999, as disparities among Eurozone members’ financial structure is likely to decline the appeal for the currency even further, since measures to bring budget deficits to the ECB’s target are likely to set several countries into a longer recession.