Under Pressure Canadian Dollar Over Rates
The new year’s start has not really been very lucky for the Loonie so far. From the very start of this year the Canadian Dollar has been experiencing down falls , and has been showing quite steeply pointing down wards. Many of Financial Analysts have predicted that it will continue to fall in the near future. Apparently CAD is going to see another dumb sight in this year.
The economists of the Royal Bank of Canada have stated that loonie is going to fall an other 87 cents by the end of this year, while TD bank differs a little on this aspect and observations have revealed that it will go less than 80 cents and it will rise an=gain in the coming year.
Turkish Lira Drops as Government Fights Curruption
Turkish Currency “Lira”
The Turkish currency “Lira” dropped down about 1.5%, on the December 20th of 2013, to 2.0982 per Canadian dollar. It is the lowest the Lira has ever been since 1981. Just previously it was trading 0.9% low in Istanbul. It dropped to almost 1.2% of 2.8681 compared to one Euro. the 2 year benchmark note rose up with 25 points 9% , which is the best they had ever been.
The risk which are rationally attached to a country’s Forex performance tend to have worsen as Mr. Onder, the chairman of PYA commented on a telephone call from the capital of Turkey “Istanbul”. He added that the foreign investing companies could not difest the fact that had jut happened for a couple of days and the evacuation of market as deemed to be the most rational response from a trader, was in effect for about 2 weeks.
It is quite an opportunity of many of those who can accurately analyse the and predict the future trends and yield great out of trading into the risky Lira.
UKSterling strong against US dollar, weak against the Euro
Sterling has seen mixed fortunes this week, with events further afield impacting sterling. In particular we saw sterling gain on the US dollar but fall versus the euro. The main event for the UK’s currency this week was the minutes from the latest Bank of England meeting, which highlighted that recent sterling strength could in turn be detrimental to country’s exports. As expected, all members of the Monetary Policy Committee voted to maintain the current levels of interest rates and quantitative easing. However, the inflation report suggested unemployment levels would be lower than expected in the second half of 2013, implying that monetary policy could be tightened sooner than originally thought. Today, the preliminary UK quarterly growth figure for the third quarter will be the driving force for sterling with current market estimates forecasting growth of 0.8%. Any significant variation from this figure will have a major impact so please get in touch with your trader for the latest prices from the market.