Forex News

The Canadian dollar had an amazing eighth day of consecutive gains versus its southern counterpart as currencies tied to growth profited from another session of optimism in commodities and equities markets, allowing the loonie to remain bullish.

The Japanese yen had a negative performance this Tuesday versus most of the Asian and South Pacific key-currencies as evidences suggest that commodity producer countries in the region, as well as emerging markets, are likely to outperform the Japanese economy this year, affecting the yen as well.

The Canadian dollar traded high versus its U.S. counterpart and several other key-currencies in foreign-exchange markets as its main commodity export, the crude oil, rose again allowing the loonie to start this week advancing.

The euro had just started the week gaining versus the dollar and the yen as the negative sentiment regarding the Greek crisis slowly fades, but after comments coming from Greece that the fiscal crisis in the country may spread to other countries, the EU’s single currency went down again.

The Polish zloty is facing a scenario different from its neighboring currencies in the Baltics, central Europe and the euro as interest rates may rise in the following months to control the country’s growing inflation, helping the zloty to climb in forex markets this Thursday.

The pound remained bearish this week as market sentiment towards assets in the U.K. didn’t manage to improve, after interest rates remained at a record low in the country, according to what most analysts expected to happen for today’s decisions.

The European single currency posted its first day of decline versus the greenback this week after the regional financial regulator affirmed that some of its stimulus to help the economy to recover will last for as long as they are necessary, declining optimism towards the Eurozone.

The euro profited today after Greece announced several measures to tighten its massive budget deficit, allowing the confidence towards the Eurozone and making the euro to rank among the best performers in currency markets today.

The Swedish krona fell for another day this Wednesday as optimism in the Eurozone and negative releases in the Nordic country declined attractiveness regionally for assets in Sweden.

The U.K. currency entered its second day of gains versus most of the main traded currencies after evidences of economic improvements started to appear in the country, increasing appetite for assets in the country, which have been lately affected by grim forecasts towards the kingdom’s economy.