In what can only be called a dramatic change of direction, the upward move of
the Chinese yuan has caught a lot of investors off guard, as their attention, in
the currency market has mostly been on the Japanese yen, once it implemented a
policy to drive down its value.
Meanwhile, the yuan has moved strongly in the opposite direction,
strengthening against the U.S. dollar in a meaningful way since the beginning of
2013.
More on strength of yuan
Showing posts with label Currency News. Show all posts
Showing posts with label Currency News. Show all posts
Saturday, May 11, 2013
Monday, June 21, 2010
Citigroup's (NYSE:C) Pandit: Euro Not Going Away
According to Citigroup (NYSE:C) CEO Vikram Pandit, he and the giant bank believes the "euro is here to stay."
Pandit added, "I think we are going to look at this as another one of these issues that we’ve put behind us."
Pandit also offered praise to how the European Union handled the situation, saying it was a "very good job," on Bloomberg television.
What was the good job? They simply through money at it to the tune of $975 billion. What's so great about that?
But then again we must consider the source, as Pandit was at the helm of Citigroup as it had to get taxpayer dollars in order to survive. So the idea to throwing money at problems is about all big bankers like Pandit can see as a solution to challenges like these.
Many analysts and investors believe the euro can't survive this crisis because Europe refused to defend it by allowing the situation to play out in the countries, showing them they were serious about adhering to the financial rules of the EU.
The euro of course won't immediately fail, but definitely could sometime in the next decade or so.
Pandit added, "I think we are going to look at this as another one of these issues that we’ve put behind us."
Pandit also offered praise to how the European Union handled the situation, saying it was a "very good job," on Bloomberg television.
What was the good job? They simply through money at it to the tune of $975 billion. What's so great about that?
But then again we must consider the source, as Pandit was at the helm of Citigroup as it had to get taxpayer dollars in order to survive. So the idea to throwing money at problems is about all big bankers like Pandit can see as a solution to challenges like these.
Many analysts and investors believe the euro can't survive this crisis because Europe refused to defend it by allowing the situation to play out in the countries, showing them they were serious about adhering to the financial rules of the EU.
The euro of course won't immediately fail, but definitely could sometime in the next decade or so.
Wednesday, May 12, 2010
Citigroup (NYSE:C) Says Real Rises on Retail Sales
Citigroup’s (NYSE:C) Dirk Willer said today that increased retail sales aided the Brazilian real in reaching it third gain in the last four days, as retail sales in Brazil rose to their highest levels on record.
Retail sales in Brazil rose by 15.7 percent in March over the year before, surpassing analysts' projections of 14 percent.
The central bank of Brazil raised interest rates in April to combat the expanding economy, increasing benchmark borrowing costs from 8.75 percent to 9.5 percent.
Europe's decision to bailout out the irresponsible, socialist/welfare countries had generated concerns over whether or not investors would ignore assets in Brazil specifically, and Latin America in general.
Willer said, “The market reacted well to retail sales. The pressure point has largely been removed after the European bailout package was announced.”
Retail sales in Brazil rose by 15.7 percent in March over the year before, surpassing analysts' projections of 14 percent.
The central bank of Brazil raised interest rates in April to combat the expanding economy, increasing benchmark borrowing costs from 8.75 percent to 9.5 percent.
Europe's decision to bailout out the irresponsible, socialist/welfare countries had generated concerns over whether or not investors would ignore assets in Brazil specifically, and Latin America in general.
Willer said, “The market reacted well to retail sales. The pressure point has largely been removed after the European bailout package was announced.”
Citigroup (NYSE:C) On Canadian Dollar
The Canadian dollar will regain parity with the U.S. dollar, according to Citigroup (NYSE:C), and should find support in the range of 1.0207 to 1.0225.
In a note to clients, Citigroup said in the short-term the Canadian dollar should reach 0.9931.
Last week's market turmoil brought the loonie down, but that won't last long, as the fundamentals are too strong to keep it at those levels.
The Canadian dollar is increasingly being thought of as a safe haven investment, as the economy of Canada remains strong, and they are positioned for a profitable and long run because of the natural resources available in the country, and the strong demand for those resources from China and other areas of the world, which will go on for many years.
The Canadian dollar will rise with the economic growth of the country, and with little or no sovereign debt issues, is being eyed by investors as an alternative to the U.S. dollar, along with gold.
In a note to clients, Citigroup said in the short-term the Canadian dollar should reach 0.9931.
Last week's market turmoil brought the loonie down, but that won't last long, as the fundamentals are too strong to keep it at those levels.
The Canadian dollar is increasingly being thought of as a safe haven investment, as the economy of Canada remains strong, and they are positioned for a profitable and long run because of the natural resources available in the country, and the strong demand for those resources from China and other areas of the world, which will go on for many years.
The Canadian dollar will rise with the economic growth of the country, and with little or no sovereign debt issues, is being eyed by investors as an alternative to the U.S. dollar, along with gold.
Jim Rogers: Put Money in Real Assets
If you follow investor and commodity expert Jim Rogers, you know he has been recommending investors put their capital in real assets for a long time, and in light of the European sovereign debt crisis and China inflation challenge, Rogers again reiterated that in an interview on Bloomberg today.
The primary reason for this advice from Rogers is "because paper money everywhere is being debased.”
Governments and central banks around the world haven't stopped their printing of money, and continue to spend as if there are no consequences to their actions.
Smart investors know the more you print, the less value the currency holds, and inflation will be inevitable down the line. Only holding real assets will help investors maintain their wealth.
The primary reason for this advice from Rogers is "because paper money everywhere is being debased.”
Governments and central banks around the world haven't stopped their printing of money, and continue to spend as if there are no consequences to their actions.
Smart investors know the more you print, the less value the currency holds, and inflation will be inevitable down the line. Only holding real assets will help investors maintain their wealth.
Sunday, April 18, 2010
BRICs Continue Local Currency Pursuit
A growing number of nations are losing confidence in the U.S. dollar, as the endless printing of paper money has increased the pace of the drop in value of the dollar, and its desirability as a currency to do business in, as it's becoming questionable as to its long-term viability on a number of fronts; including whether countries want to continue to acquire the increasingly risky Treasuries, which have propped up the U.S. economy for a long time.
Although it's not the first time BRIC countries have let it be known they are looking for ways to conduct business in their own currencies, the fact that they're continuing to talk and pursue it shows it's not an issue that is going away, and also points to the probable removal of the U.S. dollar in the future as the currency to be traded in, to be replaced by the renminbi or yuan.
China already allows some business to be conducted on a regional basis in its own currency, and that is an experiment to see the potential of expanding to do business in foreign currencies besides the U.S. dollar.
The other thing on the positive side, is it seems to show not only a desire to do business beyond the U.S. dollar, but also that the countries are increasingly confident in the currencies of each country.
Although it's not the first time BRIC countries have let it be known they are looking for ways to conduct business in their own currencies, the fact that they're continuing to talk and pursue it shows it's not an issue that is going away, and also points to the probable removal of the U.S. dollar in the future as the currency to be traded in, to be replaced by the renminbi or yuan.
China already allows some business to be conducted on a regional basis in its own currency, and that is an experiment to see the potential of expanding to do business in foreign currencies besides the U.S. dollar.
The other thing on the positive side, is it seems to show not only a desire to do business beyond the U.S. dollar, but also that the countries are increasingly confident in the currencies of each country.
Thursday, April 8, 2010
China Ready to Revalue Renminbi?
China about to revalue renminbi?
Rumors on the street are China is close to announcing they are ready to revalue their currency, although we shouldn't expect much of a move there, and if the rumors are true, it will be a relatively small increase in value in the renminbi.
What is expected is a very quick but low revaluing of the Chinese currency, probably to placate politicians in the U.S., who for the most part, are clueless over it all, but are pressuring the Chinese from a populist position.
Concerns over speculators entering the market will evidently be handled by the Chinese saying the renminbi can just as easily be lowered in value as increased in value, as they want to keep the possible huge influx of investment that could come into China from assuming an inevitable upward climb in value which could hurt the country.
Rumors on the street are China is close to announcing they are ready to revalue their currency, although we shouldn't expect much of a move there, and if the rumors are true, it will be a relatively small increase in value in the renminbi.
What is expected is a very quick but low revaluing of the Chinese currency, probably to placate politicians in the U.S., who for the most part, are clueless over it all, but are pressuring the Chinese from a populist position.
Concerns over speculators entering the market will evidently be handled by the Chinese saying the renminbi can just as easily be lowered in value as increased in value, as they want to keep the possible huge influx of investment that could come into China from assuming an inevitable upward climb in value which could hurt the country.
Thursday, March 11, 2010
George Soros and British Pound
British Pound Plunging
The ongoing plunge in value of the British pound brings to mind the millions earned by George Soros when he bet against it in September 1992.
Concerns over the rate of the fall in value of the pound has some concerned over how that will impact the value of stocks, commodoties and trade around the world.
The pound has been in even worse shape than the euro over the last month and a half or so, and it remains to be seen how it could effect the global scene.
It makes you wonder if old George Soros is back in the picture, or at least someone like him.
British Pound Plunging
The ongoing plunge in value of the British pound brings to mind the millions earned by George Soros when he bet against it in September 1992.
Concerns over the rate of the fall in value of the pound has some concerned over how that will impact the value of stocks, commodoties and trade around the world.
The pound has been in even worse shape than the euro over the last month and a half or so, and it remains to be seen how it could effect the global scene.
It makes you wonder if old George Soros is back in the picture, or at least someone like him.
British Pound Plunging
Sunday, March 7, 2010
Silver as Idaho Currency?
Silver as Idaho Currency
While the impetus behind introducing a bill to allow silver to be used in Idaho as a currency is job creation, the implications would be extraordinary if it happens, especially in relationship to the silver currency strength to the strength of the U.S. dollar.
The silver medallions, which have a good possibility of becoming a currency from a political standpoint, could be used for many things, including paying state taxes if one wished.
If this were to become successful, it wouldn't be long before other states implemented similar measures, which would create a dominoe effect, this time for something very positive.
Who knows where silver as a currency could go if this works, and if gold would be seriously entertained as a competing currency again.
Silver as Currency
While the impetus behind introducing a bill to allow silver to be used in Idaho as a currency is job creation, the implications would be extraordinary if it happens, especially in relationship to the silver currency strength to the strength of the U.S. dollar.
The silver medallions, which have a good possibility of becoming a currency from a political standpoint, could be used for many things, including paying state taxes if one wished.
If this were to become successful, it wouldn't be long before other states implemented similar measures, which would create a dominoe effect, this time for something very positive.
Who knows where silver as a currency could go if this works, and if gold would be seriously entertained as a competing currency again.
Silver as Currency
Tuesday, March 2, 2010
George Soros: Euro May Collapse
George Soros Euro Collapse
Although George Soros speaks out of both sides of his mouth, as evidenced by his remarks that gold is in a bubble while he had recently invested millions into the metal, he still is interesting to listen to, as you know whether he's speaking the truth or not, that he is interested in what he's talking about, and that's the case with his recent comments that the euro may not survive and be in danger of a total collapse.
One thing you can be sure of from the comments of Soros is he has a stake in the euro, or he wouldn't be talking about it.
Soros says the euro may not survive just from the sovereign risk threat from Greece, although many think the PIIGS overall are much more of a risk than if Greece itself only collapsed. The pigs are Portugal, Ireland, Italy, Greece and Spain.
Many think the euro could survive a collapse of Greece, but a collapse of some of the other countries at the same time, or near the same time, would probably be the end of the European union and the euro.
Soros obviously is attempting to influence the markets to his investment advantage; not the first time he's tried and succeeded at doing it.
George Soros Euro Collapse
Although George Soros speaks out of both sides of his mouth, as evidenced by his remarks that gold is in a bubble while he had recently invested millions into the metal, he still is interesting to listen to, as you know whether he's speaking the truth or not, that he is interested in what he's talking about, and that's the case with his recent comments that the euro may not survive and be in danger of a total collapse.
One thing you can be sure of from the comments of Soros is he has a stake in the euro, or he wouldn't be talking about it.
Soros says the euro may not survive just from the sovereign risk threat from Greece, although many think the PIIGS overall are much more of a risk than if Greece itself only collapsed. The pigs are Portugal, Ireland, Italy, Greece and Spain.
Many think the euro could survive a collapse of Greece, but a collapse of some of the other countries at the same time, or near the same time, would probably be the end of the European union and the euro.
Soros obviously is attempting to influence the markets to his investment advantage; not the first time he's tried and succeeded at doing it.
George Soros Euro Collapse
Monday, March 1, 2010
Chile Peso in Earthquake Aftermath
Trading Chile Peso
As relief efforts from agencies outside the country send a windfall of U.S. dollars their way, the Chilean peso is expected to experience a nice upward push in value against the dollar during that time.
In 2009 the Chilean peso grew in value against the U.S. dollar by close to 20 percent. It was dropping against the greenback in the first two months of 2010 based on new currency reserve requirements in the country concerning private pension funds.
This temporary situation could be a good play going forward for currency traders looking for some degree of predictability in their forex trading.
Trading Chile Peso
As relief efforts from agencies outside the country send a windfall of U.S. dollars their way, the Chilean peso is expected to experience a nice upward push in value against the dollar during that time.
In 2009 the Chilean peso grew in value against the U.S. dollar by close to 20 percent. It was dropping against the greenback in the first two months of 2010 based on new currency reserve requirements in the country concerning private pension funds.
This temporary situation could be a good play going forward for currency traders looking for some degree of predictability in their forex trading.
Trading Chile Peso
Friday, February 26, 2010
George Soros Betting Against Euro
George Soros and Euro
George Soros is swooping in like a vulture on a carcass with the euro, as the currency expert who has made the vast majority of his fortune betting on currencies, is looking to make another killing by betting against the euro.
Via his Soros Fund Management company, Soros is putting a huge amount of resources to generate what will eventually be an extraordinary sum of money made from the euro crisis stemming from the PIIGS in southern Europe: Portugal, Ireland, Italy, Greece and Spain.
Soros isn't alone though in his hedge fund focus, as others are salivating to get into what looks like one of the surest bets around to make a once-in-a-lifetime deal on.
George Soros and Euro
George Soros is swooping in like a vulture on a carcass with the euro, as the currency expert who has made the vast majority of his fortune betting on currencies, is looking to make another killing by betting against the euro.
Via his Soros Fund Management company, Soros is putting a huge amount of resources to generate what will eventually be an extraordinary sum of money made from the euro crisis stemming from the PIIGS in southern Europe: Portugal, Ireland, Italy, Greece and Spain.
Soros isn't alone though in his hedge fund focus, as others are salivating to get into what looks like one of the surest bets around to make a once-in-a-lifetime deal on.
George Soros and Euro
Monday, January 18, 2010
Commodity Currencies Poised for Growth
Commodity Currencies
Although it's impossible to know the rate of growth and/or strength commodity currencies will grow against the U.S. dollar, it's going to be a good season of time for them as commodity prices are set to increase for some time to come.
When talking of commodity currencies, we're referring to the dollars of Australia, Canada and New Zealand; all countries which rely on commodities as a large part of their economies.
History has shown that for the most part these three currencies move in unison with one another based on how the price of commodities are moving, and so all of them should be a good bet over the next couple of years to strengthen against the U.S. dollar, which continues to collapse in value.
China's seeming resumption of economic domestic growth is a good sign for these three currencies as well, as it implies China is buying up commodities again in preparation for more growth, assuming it's for that purpose and not to protect its own exports and currency primarily, although it definitely entails that.
Commodity Currencies
Although it's impossible to know the rate of growth and/or strength commodity currencies will grow against the U.S. dollar, it's going to be a good season of time for them as commodity prices are set to increase for some time to come.
When talking of commodity currencies, we're referring to the dollars of Australia, Canada and New Zealand; all countries which rely on commodities as a large part of their economies.
History has shown that for the most part these three currencies move in unison with one another based on how the price of commodities are moving, and so all of them should be a good bet over the next couple of years to strengthen against the U.S. dollar, which continues to collapse in value.
China's seeming resumption of economic domestic growth is a good sign for these three currencies as well, as it implies China is buying up commodities again in preparation for more growth, assuming it's for that purpose and not to protect its own exports and currency primarily, although it definitely entails that.
Commodity Currencies
Friday, October 24, 2008
Commodities: US Dollar Strengthens
Dollar will collapse in spite of current strength
The U.S. dollar continues to strengthen because of the unique market circumstances, as it improved against euro, British pound, and the Australian and New zealand dollars today.
Against the Japanese yen though, it dropped to a 13-year low, as it's growing into the currency of choice for those seeking safety. At its lowest point against the yen today, the dollar fell to 90.89.
As Watching U.S. Dollar said today, "remarkable factors in the market keep the dollar high against other nations' currencies, as it was up to two-year highs against the euro, while it enjoyed a six-year high against sterling.
"Sterling fell to as low as $1.5270 against the U.S. dollar, while the euro was as low as $1.2498. The Australian and New Zealand dollars also plunged against the greenback, with the Australian dollar taking the biggest hit, falling by 7.6 percent to $0.6213, while the New Zealand dollar was right behind it, decreasing by 6.5 percent to $0.5576."
Looking ahead, the US dollar will eventually collapse as a perfect storm seems to be brewing against it in 2009.
The U.S. dollar continues to strengthen because of the unique market circumstances, as it improved against euro, British pound, and the Australian and New zealand dollars today.
Against the Japanese yen though, it dropped to a 13-year low, as it's growing into the currency of choice for those seeking safety. At its lowest point against the yen today, the dollar fell to 90.89.
As Watching U.S. Dollar said today, "remarkable factors in the market keep the dollar high against other nations' currencies, as it was up to two-year highs against the euro, while it enjoyed a six-year high against sterling.
"Sterling fell to as low as $1.5270 against the U.S. dollar, while the euro was as low as $1.2498. The Australian and New Zealand dollars also plunged against the greenback, with the Australian dollar taking the biggest hit, falling by 7.6 percent to $0.6213, while the New Zealand dollar was right behind it, decreasing by 6.5 percent to $0.5576."
Looking ahead, the US dollar will eventually collapse as a perfect storm seems to be brewing against it in 2009.
Tuesday, October 7, 2008
Gold & Silver Bald Eagle Coins Going Fast
... as United States Mint's December 12th Offer Deadline Quickly Approaches
Eagle Foundation Suggests Precious Metal Collectibles as Alternative Investment to Stocks
PIGEON FORGE, TN, Oct 06, 2008 (MARKET WIRE via COMTEX) -- E-Wire -- The non-profit American Eagle Foundation (www.eagles.org) announced today that United States Mint's 2008 Bald Eagle Commemorative Coins are selling very well, and have already raised over $6 million for the future protection of Bald Eagles.
All three legal tender coins (gold, silver; clad) celebrate the successful recovery of the Bald Eagle to America's skies and the upcoming 35th Anniversary of the Endangered Species Act on December 28.
"We're grateful that so many patriots are stepping forward to support our nation's living symbol of Freedom," said AEF President Al Cecere. "Every American should do their part to help keep this majestic bird thriving for generations to come."
Surcharge monies generated from the sale of each coin are being set aside to create a permanent endowment fund benefiting the Bald Eagle's future prosperity, which is managed by the eagle conservation group -- based at Dolly Parton's Dollywood park in Pigeon Forge, Tennessee.
There are only about 32,000 $5 gold, 162,000 silver dollar and 465,000 50-cent clad (copper/nickel) coins left, and they will no longer be offered by the U.S. Mint ( www.usmint.gov) after December 12, 2008.
If every coin in the special limited edition series sells out by that deadline, over $10 million would be raised for the eagle preservation fund.
"This is an ideal time to diversify and buy gold and silver, since the stock market is so volatile," says AEF President Al Cecere. "Traditionally, precious metals have been a relatively secure alternative investment."
The clad coin features the stately image of the celebrity bald eagle "Challenger" ( http://www.eagles.org/aefsplash/), which is the first time in U.S. history that a famous eagle (or animal) and its name have been placed on a legal tender coin.
The silver coin bears the original 1782 Great Seal of the United States, which has not previously appeared on any government issued coinage. The present Great Seal and two young eagles about to leave their nest appear on the Gold coin. The words "In God We Trust" are included on all three coins.
The coin purchase prices are $319.95 for proof gold ($309.95 uncirculated), $43.95 for proof silver ($37.95 uncirculated) and $10.95 for proof clad ($8.95 uncirculated).
"With Christmas quickly approaching, these beautiful precious metal collectibles make wonderful gifts that will be valued forever," said Cecere. "What better way to be bullish on America than to invest in the ongoing care of such a precious national treasure."
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=848280
Embedded Video Available: http://www2.marketwire.com/mw/release_html_b1?release_id=440385
CONTACT:
Al Cecere
American Eagle Foundation
865-256-0372
Email Contact
Web site: http://www.eagles.org
http://www.usmint.gov
http://www.eagles.org/aefsplash/
SOURCE: American Eagle Foundation
http://www2.marketwire.com/mw/emailprcntct?id=F1E34C8F601B6D9C
http://www.eagles.org
http://www.usmint.gov
http://www.eagles.org/aefsplash/
Copyright 2008 Market Wire, All rights reserved.
Eagle Foundation Suggests Precious Metal Collectibles as Alternative Investment to Stocks
PIGEON FORGE, TN, Oct 06, 2008 (MARKET WIRE via COMTEX) -- E-Wire -- The non-profit American Eagle Foundation (www.eagles.org) announced today that United States Mint's 2008 Bald Eagle Commemorative Coins are selling very well, and have already raised over $6 million for the future protection of Bald Eagles.
All three legal tender coins (gold, silver; clad) celebrate the successful recovery of the Bald Eagle to America's skies and the upcoming 35th Anniversary of the Endangered Species Act on December 28.
"We're grateful that so many patriots are stepping forward to support our nation's living symbol of Freedom," said AEF President Al Cecere. "Every American should do their part to help keep this majestic bird thriving for generations to come."
Surcharge monies generated from the sale of each coin are being set aside to create a permanent endowment fund benefiting the Bald Eagle's future prosperity, which is managed by the eagle conservation group -- based at Dolly Parton's Dollywood park in Pigeon Forge, Tennessee.
There are only about 32,000 $5 gold, 162,000 silver dollar and 465,000 50-cent clad (copper/nickel) coins left, and they will no longer be offered by the U.S. Mint ( www.usmint.gov) after December 12, 2008.
If every coin in the special limited edition series sells out by that deadline, over $10 million would be raised for the eagle preservation fund.
"This is an ideal time to diversify and buy gold and silver, since the stock market is so volatile," says AEF President Al Cecere. "Traditionally, precious metals have been a relatively secure alternative investment."
The clad coin features the stately image of the celebrity bald eagle "Challenger" ( http://www.eagles.org/aefsplash/), which is the first time in U.S. history that a famous eagle (or animal) and its name have been placed on a legal tender coin.
The silver coin bears the original 1782 Great Seal of the United States, which has not previously appeared on any government issued coinage. The present Great Seal and two young eagles about to leave their nest appear on the Gold coin. The words "In God We Trust" are included on all three coins.
The coin purchase prices are $319.95 for proof gold ($309.95 uncirculated), $43.95 for proof silver ($37.95 uncirculated) and $10.95 for proof clad ($8.95 uncirculated).
"With Christmas quickly approaching, these beautiful precious metal collectibles make wonderful gifts that will be valued forever," said Cecere. "What better way to be bullish on America than to invest in the ongoing care of such a precious national treasure."
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=848280
Embedded Video Available: http://www2.marketwire.com/mw/release_html_b1?release_id=440385
CONTACT:
Al Cecere
American Eagle Foundation
865-256-0372
Email Contact
Web site: http://www.eagles.org
http://www.usmint.gov
http://www.eagles.org/aefsplash/
SOURCE: American Eagle Foundation
http://www2.marketwire.com/mw/emailprcntct?id=F1E34C8F601B6D9C
http://www.eagles.org
http://www.usmint.gov
http://www.eagles.org/aefsplash/
Copyright 2008 Market Wire, All rights reserved.
Friday, September 12, 2008
U.S. Dollar: Up, Up and away... - will it last?
After about six years of faltering, the U.S. dollar has enjoyed a resurgence lately, as it's been on a significant upward run.
According to the New York dollar index, against the currencies of major trading partners the greenback has risen by 14 percent since the Bear Stearns fiasco.
More significant is the strength it has experienced against the euro, where it has climbed by 13 percent since hitting a $1.60 bottom a couple months ago.
Much of the upswing has come from investors moving their money to safer U.S. Treasury's, from stocks, bonds and real estate.
Some think there will be inevitable correction for the U.S. dollar soon, which could be precipitated by a jump in the price of oil or better news from emerging markets.
Even so, expectations are that Europe will probably cut rates some time in the next several months, and that should keep the U.S. dollar in a strong position in the near term.
From "Watching U.S. Dollar"
According to the New York dollar index, against the currencies of major trading partners the greenback has risen by 14 percent since the Bear Stearns fiasco.
More significant is the strength it has experienced against the euro, where it has climbed by 13 percent since hitting a $1.60 bottom a couple months ago.
Much of the upswing has come from investors moving their money to safer U.S. Treasury's, from stocks, bonds and real estate.
Some think there will be inevitable correction for the U.S. dollar soon, which could be precipitated by a jump in the price of oil or better news from emerging markets.
Even so, expectations are that Europe will probably cut rates some time in the next several months, and that should keep the U.S. dollar in a strong position in the near term.
From "Watching U.S. Dollar"
Friday, April 11, 2008
Commodity News Weekend Roundup
=====
COMMODITIES-Grains drop but oil ekes out gain on late bounce
Grains dropped Friday on profit taking ahead of the weekend, pulling corn further below the record hit this week, and gold also slid as cautious investors lightened their load on new signs of problems in the U.S. economy.
=====
Latest On Commodities: Tax Break
It’s the final weekend before Uncle Sam comes to collect his dues. AND, I have just one thing to say to everyone who finds him/herself knee-deep in old receipts, cross-eyed from punching calculator keys – Think Happy Thoughts.
=====
Commodities Wrap: Chicken Cuts
Chicken Producer Cuts Production Due to High Grain Costs, Prices Likely to Remain High
=====
Shorts, Commodities Lift These ETFs to Top
The top 10 ETFs for the quarter were dominated by funds that employed short strategies and funds invested in natural gas and copper.
=====
Canadian Currency's Link to Commodities Is Weakening, RBC Says
The Canadian dollar's link to commodities has been weakening as investors shift their focus to the global economic outlook amid the credit turmoil rooted in U.S. subprime mortgages, according to RBC Capital Markets.
=====
Forget gold, silver, bronze: the winner is aluminium
RIO TINTO's chief economist, Vivek Tulpule, says commodity prices could exceed the record prices they are fetching amid the rapid change of China and India.
=====
Market 360: A weekly wrap of US equity markets, commodities, currencies, and more
Commodities
=====
COMMODITIES-Grains drop but oil ekes out gain on late bounce
Grains dropped Friday on profit taking ahead of the weekend, pulling corn further below the record hit this week, and gold also slid as cautious investors lightened their load on new signs of problems in the U.S. economy.
=====
Latest On Commodities: Tax Break
It’s the final weekend before Uncle Sam comes to collect his dues. AND, I have just one thing to say to everyone who finds him/herself knee-deep in old receipts, cross-eyed from punching calculator keys – Think Happy Thoughts.
=====
Commodities Wrap: Chicken Cuts
Chicken Producer Cuts Production Due to High Grain Costs, Prices Likely to Remain High
=====
Shorts, Commodities Lift These ETFs to Top
The top 10 ETFs for the quarter were dominated by funds that employed short strategies and funds invested in natural gas and copper.
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Canadian Currency's Link to Commodities Is Weakening, RBC Says
The Canadian dollar's link to commodities has been weakening as investors shift their focus to the global economic outlook amid the credit turmoil rooted in U.S. subprime mortgages, according to RBC Capital Markets.
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Forget gold, silver, bronze: the winner is aluminium
RIO TINTO's chief economist, Vivek Tulpule, says commodity prices could exceed the record prices they are fetching amid the rapid change of China and India.
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Market 360: A weekly wrap of US equity markets, commodities, currencies, and more
Commodities
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Friday, April 4, 2008
Weekend Commodity News
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Natural Gas Rises as Falling Dollar Lifts Appeal of Commodities
Natural gas advanced as the dollar fell against the euro, lifting the appeal of commodities as an alternative investment.
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RPT London shares close up, strong commodities overshadow weak U.S. data
Leading shares closed firmer Friday, near the session high, as strength among commodity stocks overshadowed initial disappointment over a bigger-than-expected fall in non-farm payrolls data in the United States.
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Commodities Wrap: Grain Prices Rise
Concern over whether there will be enough corn to meet demand this year led to record-high prices this week, while wheat prices surged on fears bad weather could damage crops.
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Corn hits record in broad rally despite firmer dlr
Corn closed up after hitting record highs for a second straight session on Thursday, pulling other agricultural markets along in a rally, and copper joined gold on the ride up too despite a firmer dollar.
Soft commodities like coffee, cocoa, sugar, cotton and orange juice ended higher as well.
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European Markets Rise, Led By Commodities
The European markets rose on Friday, capping the biggest weekly gain in a year, as mining stocks rallied on broker upgrades and heavily weighted energy stocks gained on rising crude oil prices.
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Silver News Around the Web
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Weekend Corn News Roundup
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Oil News Around the Web
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Keeping up with Ethanol: News Around the Web
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Keeping up with Gold News: Weekend Roundup
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Weekend Eye on the U.S. Dollar
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The Weekend Wheat News
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Natural Gas Rises as Falling Dollar Lifts Appeal of Commodities
Natural gas advanced as the dollar fell against the euro, lifting the appeal of commodities as an alternative investment.
=====
RPT London shares close up, strong commodities overshadow weak U.S. data
Leading shares closed firmer Friday, near the session high, as strength among commodity stocks overshadowed initial disappointment over a bigger-than-expected fall in non-farm payrolls data in the United States.
=====
Commodities Wrap: Grain Prices Rise
Concern over whether there will be enough corn to meet demand this year led to record-high prices this week, while wheat prices surged on fears bad weather could damage crops.
=====
Corn hits record in broad rally despite firmer dlr
Corn closed up after hitting record highs for a second straight session on Thursday, pulling other agricultural markets along in a rally, and copper joined gold on the ride up too despite a firmer dollar.
Soft commodities like coffee, cocoa, sugar, cotton and orange juice ended higher as well.
=====
European Markets Rise, Led By Commodities
The European markets rose on Friday, capping the biggest weekly gain in a year, as mining stocks rallied on broker upgrades and heavily weighted energy stocks gained on rising crude oil prices.
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Silver News Around the Web
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Weekend Corn News Roundup
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Oil News Around the Web
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Keeping up with Ethanol: News Around the Web
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Keeping up with Gold News: Weekend Roundup
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Weekend Eye on the U.S. Dollar
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The Weekend Wheat News
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Friday, March 14, 2008
U.S. Dollar Continues Slide Against Major Currencies
The U.S. dollar continues its downward trend, as it again dropped to a record low against the euro, and its lowest performance against the yen in twelve years.
Another first for the greenback was it fell below one Swiss franc for the first time in its history.
The news of the bailout of Bear Stearns Co. (NYSE: BSC), along with the growing suspicion that the Fed could cut interest rates up to a full point at their next meeting, caused gold to also surge to historic highs, increasing to $1,009 an ounce.
"The initial reaction is to sell the U.S., sell the dollar, sell the equities," said Jeff Gladstein, global head of foreign-exchange trading at AIG Financial Products. "This is bad news. It's definitely a confirmation of the reality that U.S. financial institutions are having a hard time."
Against the yen, the dollar plunged to 98.90, the worst performance since September 1995, while against the euro it dropped to a record $1.5688. With the Swiss franc, it feel to as low as 0.9988, down from Thursday's 1.0093.
Another first for the greenback was it fell below one Swiss franc for the first time in its history.
The news of the bailout of Bear Stearns Co. (NYSE: BSC), along with the growing suspicion that the Fed could cut interest rates up to a full point at their next meeting, caused gold to also surge to historic highs, increasing to $1,009 an ounce.
"The initial reaction is to sell the U.S., sell the dollar, sell the equities," said Jeff Gladstein, global head of foreign-exchange trading at AIG Financial Products. "This is bad news. It's definitely a confirmation of the reality that U.S. financial institutions are having a hard time."
Against the yen, the dollar plunged to 98.90, the worst performance since September 1995, while against the euro it dropped to a record $1.5688. With the Swiss franc, it feel to as low as 0.9988, down from Thursday's 1.0093.
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-chf-small.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-jpy-small.gif)
Wednesday, March 12, 2008
Commodities Continue to Surge: Oil Hits $110 for First Time
Commodity News Around the Web
Gas Prices Jump, Oil Hits $110
Gasoline and oil prices extended their record-setting streaks Wednesday, with gas at the pump reaching a new high of nearly $3.25 and crude surpassing $110 for the first time.
The gains came as a weakening dollar led investors to shrug off an Energy Department report that crude oil and gasoline supplies jumped last week.
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Dollar Falls to Record Low Against Euro
Euro Tops $1.55 for the First Time With Broad Skepticism About Fed Plan to Support Markets
The dollar fell against most major currencies on Wednesday, including a new low against the euro, which fetched $1.55, as skepticism grew over the latest U.S. Federal Reserve Bank plan to restore calm to jittery global credit markets.
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New S&P Currency Indexes Cover Renminbi And Rupee
Standard & Poor's has two currency indexes linked to two of the world's hottest emerging markets. The S&P Chinese Renminbi Index and the S&P Indian Rupee Index are the first members of a full family of similar indexes that S&P is launching; the S&P Currency Beta Series will include indexes both for individual currencies and groups of currencies. They were created for use as hedging and measurement tools.
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U.S. dollar sinks as Jordan says sell
The U.S. dollar has hit yet another record low against the Euro, after Jordanian central bank officials talked of reducing U.S. dollar reserves and figures showed Japan's economy is performing better than expected.
The Euro was buying US$1.5540 at 3:30 PM ET Friday, the strongest rate ever against the greenback since the Euro debuted in 1999. The U.S. dollar index, which measures the greenback's strength against a basket of major currencies, also slipped to a record low of 72.47. The Canadian dollar was slightly higher than yesterday's close at US$1.01.
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COMMODITIES-Rally plows ahead as oil crosses $110; wheat up
The powerful bull run in key commodities showed little fatigue on Wednesday as oil closed up after hitting a record above $110 per barrel and wheat settled higher after rallying for a second straight day.
Metals also ended in the positive, with copper [COP/X] rising more than 1 percent after losses in two earlier sessions, and gold [GOL/X] repeating Tuesday's modest gains.
Sugar [SUG/N] and cocoa [COC/N] closed down, along with corn and soybeans. But cotton [COT/N] showed surprising resilience, closing up after hitting limit-down.
Leading commodity indexes such as the Reuters-Jefferies CRB .CRB, the S&P GSCI .SPGSCI and the Dow Jones-AIG .DJAIG ended higher too.
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Gas Prices Jump, Oil Hits $110
Gasoline and oil prices extended their record-setting streaks Wednesday, with gas at the pump reaching a new high of nearly $3.25 and crude surpassing $110 for the first time.
The gains came as a weakening dollar led investors to shrug off an Energy Department report that crude oil and gasoline supplies jumped last week.
=====
Dollar Falls to Record Low Against Euro
Euro Tops $1.55 for the First Time With Broad Skepticism About Fed Plan to Support Markets
The dollar fell against most major currencies on Wednesday, including a new low against the euro, which fetched $1.55, as skepticism grew over the latest U.S. Federal Reserve Bank plan to restore calm to jittery global credit markets.
=====
New S&P Currency Indexes Cover Renminbi And Rupee
Standard & Poor's has two currency indexes linked to two of the world's hottest emerging markets. The S&P Chinese Renminbi Index and the S&P Indian Rupee Index are the first members of a full family of similar indexes that S&P is launching; the S&P Currency Beta Series will include indexes both for individual currencies and groups of currencies. They were created for use as hedging and measurement tools.
=====
U.S. dollar sinks as Jordan says sell
The U.S. dollar has hit yet another record low against the Euro, after Jordanian central bank officials talked of reducing U.S. dollar reserves and figures showed Japan's economy is performing better than expected.
The Euro was buying US$1.5540 at 3:30 PM ET Friday, the strongest rate ever against the greenback since the Euro debuted in 1999. The U.S. dollar index, which measures the greenback's strength against a basket of major currencies, also slipped to a record low of 72.47. The Canadian dollar was slightly higher than yesterday's close at US$1.01.
=====
COMMODITIES-Rally plows ahead as oil crosses $110; wheat up
The powerful bull run in key commodities showed little fatigue on Wednesday as oil closed up after hitting a record above $110 per barrel and wheat settled higher after rallying for a second straight day.
Metals also ended in the positive, with copper [COP/X] rising more than 1 percent after losses in two earlier sessions, and gold [GOL/X] repeating Tuesday's modest gains.
Sugar [SUG/N] and cocoa [COC/N] closed down, along with corn and soybeans. But cotton [COT/N] showed surprising resilience, closing up after hitting limit-down.
Leading commodity indexes such as the Reuters-Jefferies CRB .CRB, the S&P GSCI .SPGSCI and the Dow Jones-AIG .DJAIG ended higher too.
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