Forex Trading: 08/28/11

Oil Doesn’t Stop Falling, Drags Ruble Along

Today the Russian ruble continued to indicate a downward trend as crude oil continued to decline, dropping below $81 per barrel on the speculation demand for fuel can wane as the international growth is stalling. Currently the Russian currency erased its losses, but it’s unclear how long may it maintain gains. Oil, the main export revenue...

Canadian Dollar Feels Pressure from Falling Stocks & Commodities

Outlook for the future of the global economy once more worsened among investors, creating them less interested in higher-yielding currencies. The Canadian dollar was one in every of the victims of such pessimistic sentiment. September futures for delivery of crude oil (the major export commodity of Canada) slumped the maximum amount as...

Cheaper Oil Means Weaker Ruble

Russia’s ruble weakened these days once crude oil declined, reacting to the negative data concerning the US unemployment claims that reduced hopes for improvement of the economy within the US. The jobless claims came out at 408,000 last week, worse than predicted 402,000. Higher unemployment suggests that slower economic growth and, as...

CAD Gains vs. USD as Investors Seek Higher Yield

The Canadian dollar advanced against its US counterpart as market sentiment improved, creating investors a lot of willing to risk and appearance for higher-yielding currencies. The currency was down against the euro and the yen. The Producer value Index within the US, the major trading partner of Canada, rose 0.2 p.c in July, following...

Canadian Dollar Receives Hit from US

Canada’s dollar plunged nowadays as demand for the nation’s assets deteriorated as a result of pessimistic outlook for the economy of the biggest nation’s trading partner — the US. The depressed mood caused fall of equities and decline of commodities. The MSCI World Index of stocks slumped 1.9 percent, while the standard & Poor’s...

BOC Rate Statement Invigorates Loonie

The Canadian dollar jumped these days after Canada’s central bank held interest rates and signaled that it will resume its rates increases soon as economy improves. The Bank of Canada maintained its key Overnight Rate at one percent and wrote in the statement: To the extent that the expansion continues and the current material excess...

Iraqi Dinar: Main Drivers & Redenomination

Iraqi dinar are often an interesting possibility for traders who search for currencies with nice potential for profit. but such potential typically comes with higher risk. How investor will predict performance of the dinar? The first factor to recollect is that Iraq is one of the biggest world exporters of oil, therefore performance of...

Ruble Goes Down with Oil Prices

The Russian ruble fell these days as crude oil, the main supply of Russia’s export revenue, declined for the second day on issues for the recovery of the world economy. August futures for crude oil delivery fell $0.98 (1 percent) to $95.29 a barrel. Crude retreated 10 % in June to very cheap in eight months. Economists say that the ruble...

Ruble Falls with Crude Oil

The Russian ruble fell nowadays, when 5 sessions of gains against the US greenback, as crude oil, the most source of the nation’s export revenue, trimmed gains in new york. August contract for crude oil delivery traded little changed at $96.87 per barrel when it advanced earlier by $0.9 per barrel. Crude paired its gains in new york when...

Canadian Dollar Jumps, Ending Very Good Week

The Canadian dollar jumped these days, ending in the week without losses against its US counterpart, as risk appetite, caused by the advance of the Greek scenario, spurred demand for higher-yielding currencies. Canada’s gross domestic product was unchanged in April after increasing 0.3 p.c in March, whereas a drop by 0.1 p.c was expected....

Fundamentals are Bad for US Dollar, But Week Wasn’t Bad

The fundamentals on were negative for the US dollar, weakening the currency against some major counterparts, however performance of the buck wasn’t that dangerous, considering all the pressure to the downside. There were lots of dangerous new for the dollar on. dangerous housing knowledge, rising unemployment claims and slower that expected...

Sunday, 28 August 2011