Forex News

The Chilean peso rose today as the outlook for the exports of the raw materials improved after the US and China reported about the better-than-expected growth of the manufacturing.

The Australian dollar strengthened today as the pace of Australia’s economic growth was fastest in three years and after the reports showed that the manufacturing in the US and China expanded faster than predicted.

The Japanese yen is considered a safe currency, which makes it attractive in the times of the economic instability, like nowadays. While its appreciation slowed compared to the beginning of this year, and it even weakened a little versus some other currencies during the summer, the yen remains very attractive currency for those who desire safety. Will it retain its value or it’s time to sell the currency while it’s still highly priced? The answer is hugely depends on the risk sentiment of the traders, which can be easily changed by any economic news.

This week was volatile for the Australian dollar, but it generally declined against most other major currencies as the concern for the economic growth continues to haunt the markets.

The Chinese yuan fell today on the speculation that the signs of the deteriorating global economy may prompt the Chinese policy makers to limit the currency’s gains in order to prevent the damage to the exports, which the strong currency may cause.

The US dollar surged today versus the Great Britain pound and the euro as the signs of the global economy’s slowdown spurred the investors to look for the safer currencies. The yen outperformed the greenback as the concerns for the US economy made the Japanese currency more appealing as the safe currency.

The Australian dollar fell today as the signs of the slower economic growth, particularly in the US and China, damped the demand for the riskier currencies.

The Chinese yuan declined today after the US currency rallied and the central bank lowered the reference rate; the increasing exports and the resulting trade surplus weren’t able to support the currency.

The New Zealand dollar strengthened today as the signs of improving global economy and the accelerating economic growth in Asia, particularly in China, causes the speculation that the demand for the currency will rise.

The Chinese yuan strengthened today as the central bank kept its reference rate unchanged and after the stress test of the European banks failed to improve the confidence in the strength of Europe’s economy.