Archive for February 2010

Pound Falls Sharply on BOE Statements

The pound declined today versus multiple important currencies after U.K.’s central bankers stated that quantitative measures may be resumed in the country if the economic conditions fail to improve, adding to the negative sentiment in European markets today.

Eurozone Members’ Budget Struggle Affects Currency

The euro declined today versus virtually all of 16 main traded currencies as European Central Bank officials stressed on the economic difficulties faced by multiple countries using the single currency, declining appetite for traders to purchase assets in the region.

NZ Dollar Falls on 2009 Record High Unemployment

The New Zealand dollar started this Thursday falling sharply versus virtually all main traded currencies as its unemployment rate reached the highest rates in a decade, suggesting that the South Pacific economy is far from a complete recovery.

Norway’s Krone Falls on Central Bank Warning

The Norwegian krone slid today versus the world’s main traded currencies, as the nation’s benchmark interest rates were maintained on hold by the nation’s central bank, and are unlikely to be raised as soon as speculators hoped.

Canadian Dollar Slides on Stocks, U.S. Data

The Canadian dollar posted its first day of losses this week as risk appetite that fueled its rally since Monday decreased today, forcing markets with strong influence with the loonie down, and consequently erasing the Canadian dollar’s gains versus its U.S. counterpart.

Dollar Pare Losses on Positive Economic Data

The appeal for the U.S. currency surged today after an employment report showed another consecutive improvement suggesting that economic conditions are better in North America than in other wealthy regions around the world.

Yen Drops as Riskier Assets Gain on Confidence

The yen dropped started this Wednesday dropping versus most of the 16 main trading currencies as renewed risk appetite declined attractiveness for the Japanese currency, known for its safety profile that traders tend to abandon as market sentiment improves.

Canadian Dollar Extends Gains on Commodities

The Canadian dollar continued to erase last week’s losses versus lower yielding currencies as commodities and stocks rebounded in North America, boosting appeal for Canadian assets as the country’s economy is extremely orientated to raw material exports.

Dollar Slides Versus Commodity-Linked Currencies

The U.S. dollar failed to pare yesterday’s losses as risk appetite continued to favor higher-yielding and commodity related currencies, erasing partially last week’s advance for the greenback as factors supporting the dollar’s strength continued to fade this Tuesday.

Aussie Dollar Falls on Unchanged Rates

Despite risk appetite fueling demand for commodities produced in Australia, the Aussie dollar declined after a central bank decision published today showed no rate hikes expected by traders as the country’s economy rebounds.

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