The yen may continue falling against its most-traded counterparts in Currency Trading Accounts after speculation about Ben Bernanke (Federal Reserve Chairman) will be confirmed for a second term. It will probably increase demand for higher-yielding assets.
Japanese currency also decreased yesterday for the first time in eight days against the euro after a potential announcement of the Bank of Japan, which is prepared to consider expanding an emergency-loan program for banks.
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Ben Bernanke (Federal Reserve Chairman) said that the U.S. economy faces “formidable headwinds”, including a weak labor market and tight credit that are likely to produce a “moderate” pace of expansion. Mr. Bernanke´s announcements had a great impact in Currency Trading markets.
Treasuries advanced, as traders pared bets, the central bank will increase interest rates before August. Bernanke, in response to a question after his speech, repeated the Fed’s statement that “rates are likely to remain low for an extended period.”
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The US dollar may extend losses against its major counterparts in Currency Trading because a report created by economists will show U.S. companies cut fewer jobs in November. The euro could increase for a second day against the yen after European finance leaders played down the potential risks to their banks from Dubai’s debt problems.
U.S. stocks rose and the Dow Jones Industrial Average reached a 14-month high; Chinese manufacturing stocks grew at the fastest pace in five years and, according to the Dubai World, it is in discussion to restructure less than half its debt.
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Canada's dollar, also known as the “Loonie”, decreased against the US Dollar in currency trading online on Thursday as an increase of risk aversion in the wake of debt worries in Dubai shook the domestic currency of all its substantial gains from the previous session. Dubai, as Canada, is a relevant oil producer.
Selling in the Canadian dollar followed a 1.2 percent rally in Wednesday when news that Russia's central bank said it wants to invest some of its reserves in the Loonie prompted a wave of buying.
Japan's Nikkei average hit a four-month low at the open on Friday , with shares down broadly, after the dollar hit a fresh 14-year low against the yen and debt problems in Dubai hit financial markets and European shares.
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U.S. gold futures finished higher on Wednesday in CFD´s, U.S. government report showed consumer prices rose faster than expected in October, boosting gold's inflation hedge status. Traditionally Gold had been known as a secure financial asset in inflation days.
In Currency trading, Canada’s currency fell after rising earlier in the session to nearly its strongest in about a month. The “Loonie” rallied at C$1.0450 against U.S. dollar but some economists said its failure to pierce the technical level opened the door to a selling wave.
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U.S. economy improved in the third quarter encouraging demand for higher-yield currencies; this trend discouraged US dollar and yen, which dropped to the lowest level against euro in at least seven weeks in Currency Trading Online.
Gold rose the most in three weeks as the sliding dollar increased the metal’s appeal as an alternative investment. Gold futures for December delivery rose from $16.60 to $1,047.10 per ounce on the New York Mercantile Exchange’s Comex.
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Mark Carney, Bank of Canada Governor, said that “China's foreign exchange policy poses a great risk and it is a top priority of global policy makers to work towards a change in the stabilization of capital markets in the world”. Besides, some weeks ago Barack Obama made an announcement about his concern about Chinese economic policy.
CFD´S for commodities: Iran, OPEC's second-biggest oil producer, started its international oil exchange on Monday to buy and sell crude, oil products and petrochemical products; these are great news for the diversification and dynamization of international oil markets.
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In CFD´s Trading Accounts, U.S. stocks fell for a third day after an increase in demand for a Treasury auction and an unexpected drop in consumer confidence indexes. This fall in Stocks is concerning investors about the strength of the economic recovery.
Nouriel Roubini said in his weekly journal that “Investors worldwide are borrowing dollars to buy assets including equities and commodities, fueling giant bubbles that may spark another financial crisis”. Roubini professor of macroeconomics at New York University and a potential Nobel Prize in Economics.
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The U.S. dollar may advance for a third day against the Euro after the European currency did not exceed a level above $1.50 that trading patterns predicted in TradeView pro trading platform. The U.S. greenback also rose yesterday against the Norwegian krone after rumors about a drop in stocks discouraged investors from buying higher-yielding currencies.
Canada’s dollar depreciated to the lowest level in almost three weeks as the head of the nation’s central bank reiterated concern the currency has grown too strong and crude oil and stocks tumbled.
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