Mixed Bag of World Currencies
01/14/2011 0 comments
MyPlanIQ tracks trends in multiple categories using ETFs. This is the week's currency report shows a mixed bag but not the widespread drop we saw last week.
labels:investmentSymbols,FXA,FXM,BZF,FXY,FXC,FXF,FXS,DBV,CYB,UDN,FXB,FXE,
The Aussie Dollar and Mexican Peso keep their top slots although the Aussie Dollar is declining from its heights right at the turn of the year. The Krona tumbled out of third being replaced by the Yen that has quietly been climbing.
At the bottom, the US Dollar and the pound swapped places with all of the currencies in the bottom half showing some signs of improvement -- the exception being the Euro which is still sinking.
Assets Class Symbols 01/12
Trend
Score01/05
Trend
ScoreDirection
Australia Dollar
FXA
5.02%
6.0%
v
Mexican Peso
FXM
3.76%
3.47%
^
Japanese Yen
FXY
3.26%
2.82%
^
Canadian Dollar
FXC
2.71%
2.37%
^
Swiss Franc
FXF
2.58%
2.81%
v
Swedish Krona
FXS
2.46%
3.42%
v
G10 Carry Trade
DBV
1.42%
1.59%
v
Chinese Yuan
CYB
0.57%
0.4%
^
British Pound
FXB
0.4%
-1.15%
^
US Dollar Bearish
UDN
-0.52%
-0.63%
^
Euro
FXE
-2.7%
-2.37%
v
Brazilian Real
BZF
-4.3%
-4.52%
^
The Australian Dollar has continued to sink as concerns about the floods slowing the economy and the recent slowdown in commodities make the currency a little less attractive.
The Peso continues to strengthen based on the approval by the International Monetary Fund this week of a US$73bn flexible credit facility to Mexico, that the US fiscal stimulus package will continue to boost Mexican exports and the sale of Mexican-made vehicles, flat-screen televisions and refrigerators, which boomed last year, and looks set to continue to expand in the coming months.
The Yen quietly improves as Japan looks to stabilize their markets. They continue to be seen as a safe haven currency with a trading surplus but with concerns about whether their trading partners will pull out of the slump.
The euro posted has benefited from solid European debt auctions and a warning of short-term inflation risks from the head of the European Central Bank. There are still considerable concerns but this slowed the decline.
This is a bit of a mixed bag as the different currencies jostle for position in the league table.
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