World Currencies All Bounce Back
12/10/2010 0 comments
MyPlanIQ tracks trends in multiple categories using ETFs.
After a week of currencies all being down, they have all bounced back, indicating greater confidence in the individual economies and a brighter outlook overall.
| Assets Class | Symbols | 12/03 Trend Score | 11/26 Trend Score | Direction |
|---|---|---|---|---|
| Australia Dollar | FXA | 8.42% | 5.58% | ^ |
| Brazilian Real | BZF | 6.23% | 3.52% | ^ |
| Swiss Franc | FXF | 5.65% | 2.99% | ^ |
| Swedish Krona | FXS | 5.17% | 1.78% | ^ |
| Japanese Yen | FXY | 4.29% | 1.47% | ^ |
| Canadian Dollar | FXC | 3.15% | 1.98% | ^ |
| Mexican Peso | FXM | 3.01% | 2.36% | ^ |
| US Dollar Bearish | UDN | 1.74% | -0.34% | ^ |
| G10 Carry Trade | DBV | 1.32% | 0.95% | ^ |
| British Pound | FXB | 0.96% | -0.45% | ^ |
| Chinese Yuan | CYB | 0.93% | -0.14% | ^ |
| Euro | FXE | 0.58% | -1.6% | ^ |
The Australian dollar has jumped based on better-than-expected employment data as well as an increase in international travel -- both indicators of a strengthening economy.
The Brazilian real continues to march with the recovering economies as it looks to established nations for investment and business growth.
The Swiss franc continues to do well as a foil to the euro and the dollar. While there is little progress in solving the eurozone's problems, the CHF is likely to remain strong.
The euro is still mired in concerns about the Irish bailout and other weaker members that will drag the currency down. Any uptick in economic data will be a boost, but major hurdles remain.
The yuan continues to appreciate as its economy and trade surplus grows. There is continuing concern about how the imbalance will be addressed and the valuation of the currency.
The pound is an alternative currency to the euro, but with significant weakness in the economy and austerity measures set to bite soon, the pound will remain under pressure. However, strong retail and manufacturing data gave the pound a boost this week.
In conclusion, it is clear that there is a lot of volatility in currency markets, while the relative positions of the currencies remain more stable.
labels:investment,
Symbols:BZF,CYB,DBV,FXA,FXB,FXC,FXE,FXF,FXM,FXS,FXY,UDN,
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