Currency news: A Week for US Dollar Recovery
Currency News
The yuan passed a quiet week keeping its value between 6.55 and 6.6. Now it´s trading about 6.579, a small movement compared with the last currency news.
China’s Government finally could move its currency to spur economy growth. This week, The Government revealed that Chinas economy grew 6.9% during 2015, a 25-year low which was in line with economists expectations, but some investors don´t believe in this number. This increasing the likelihood of further economic stimulus.
During this week, oil price kept falling and makes FX traders looking for safe currencies as Swiss Franc. Commodity exporter countries as New Zealand (NZD) and Australia (AUD) suffered from the falling price of their products.
Canada saw its currency (CAD) lose more than 2% during the week because investors think that the Central Bank is going to reduce its interest rate during this week meeting.
US dollar advanced minimally against a portfolio of currencies. During 2016, it works as safe security, going up when stock and bond markets fall down.
