Canadian Dollar Rises as Commodities Jump

Canadian dollar is higher as commodities see a sharp jump in prices. The latest ISM data in the United States is helping matters, especially for the loonie, but the manufacturing expansion in China and Australia is also helping quite a bit.

With economic data improving for the United States and for other countries, optimism is running high. That means that commodity prices are improving and commodity currencies, like the loonie, are getting a boost.

The Canadian dollar is also benefitting from the good news in the United States since the country is Canada’s biggest trading partner. With news of economic recovery, there are expectations that demand will increase, further helping the Canadian dollar.

Also helping the loonie is a gain in oil prices. Canada relies heavily on oil prices, and the tensions between Iran and the West are putting upward pressure on oil. As a result, the loonie is expected to continue to see solid gains today.

There are still concerns about what’s next for the eurozone, though. Concerns about a European banking crisis are looming in the background, but for now there is a great deal of optimism and risk appetite.

At 14:46 GMT USD/CAD is lower at 1.0103, down from the open at 1.0186. GBP/CAD is also lower at 1.5748, down from the open at 1.5810.

Japanese Yen Continues to Gain in Forex Trading

Japanese yen continues to gain in Forex trading. Indeed, yen closed out 2011 at highs not seen for years — and not seen for a decade in the case of the euro. Japanese yen is in demand as continued global uncertainty sends traders looking for safe haven.

Indeed, even with the problems faced by Japan in 2011, including a massive earthquake and tsunami, the yen remained strong. Japanese financial leaders intervened in the Forex market multiple times, attempting to weaken the currency, especially as it gained against the US dollar.

Financial minister Jun Azumi has spent plenty of time warning that Japan will do what it takes to keep the yen weak, and that resolve might be tested in the coming year as traders look for ways to protect their capital in uncertain times.

The year ahead will certainly be interesting. If the global economy, led by the United States and (in the developing world) China, begins to recover, and if Europe can sort out its problems, the yen might see some weakness later on. But, for now, the yen is in demand as safety is at a premium.

At 17:20 GMT USD/JPY is lower at 76.9150, down from the open at 76.9600. EUR/JPY is down to 99.3930, down from the open at 99.6505. GBP/JPY is lower at 119.2075, down from the open at 119.2850.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

Earlier News About the Japanese Yen:

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Euro Higher, Even as Bank Lending from ECB Continues

Euro is higher today, gaining even though banks are still making high demands on the ECB’s marginal lending facility. A total of 14.8 billion euros were borrowed on Monday night. This wasn’t as much as borrowed last Thursday night, but it indicates that banks are still demanding emergency money from the ECB. Even so, the euro is higher today against most other major currencies.

The surge in lending from the ECB’s facility suggests that many eurozone banks are still having trouble with their balance sheets. It seems somewhat natural to tap the emergency funds at the close of the year, to bolster the look of matters. However, if demand on the facility remains high in the new year, additional fears of a banking crisis in the eurozone could prompt a level of panic in the markets.

Right now, though, there isn’t a great deal of worry about the situation. The euro is higher as Forex traders and investors show a tendency for optimism today. European equities are higher, and US stock futures are pointing to a higher open. This enthusiasm in the new year is supporting the euro against its counterparts, although concerns about the situation in the eurozone are limiting some of the gains.

At 13:55 GMT EUR/USD is higher at 1.3029, up from the open at 1.2937. EUR/GBP is up slightly to 0.8362, from the open at 0.8337. EUR/JPY is higher at 100.0415, up from the open at 99.4550.

Dollar Drops as Manufacturing Expands in USA & China

The US dollar dropped today as expanding manufacturing in the United States and China damped demand for the greenback as a safe haven. The dollar reached the lowest level in more than a month against the yen.

China’s Purchasing Managers’ Index increased from 49.0 to 50.3 in December, according to the report of the China Federation of Logistics and Purchasing on January 1. Analysts predict that the report of the Institute for Supply Management will show today an increase of PMI from 52.7 to 53.3 last month. The Stoxx Europe 600 Index rose 0.9 percent and the MSCI Asia Pacific Excluding Japan Index advanced 1.2 percent.

EUR/USD rose from 1.2933 to 1.3017 and USD/JPY dropped from 76.88 to 76.72 (the lowest rate since November 18) as of 10:36 GMT today.

Your Latest Currency Update INR - Exchange Rates UK - Tue, 3rd Jan 12 09:00 (UK)

Welcome to your Currency Update by Exchange Rates UK! Your chosen base currency converted to our top 40 worldwide currencies...and a few commodities! Should you require a free money transfer at best rates and no fees please click here CURRENCY RATES Base Currency: INR         Rates Taken: Tue, 3rd Jan 12 08:55 ** If you need to change base currency, email frequency/time sent or pause these emails click here ** Top 10 Currencies Currency Unit Units per INR INR per Unit GBP British Pound 0.0122 82.1438 EUR Euro 0.0146 68.492 USD US Dollar 0.019 52.7483 AUD Australian Dollar 0.0184 54.3211 CAD Canadian Dollar 0.0192 52.0441 NZD New Zealand Dollar 0.0241 41.4382 CHF Swiss Franc 0.0178 56.2776 JPY Japanese Yen 1.4561 0.6868 INR Indian Rupee 1.0000 1.0000 AED United Arab Emirates Dirham 0.0696 14.3728 Popular Other Currencies Currency Unit Units per INR INR per Unit BRL Brazilian Real 0.0352 28.3836 BGN Bulgarian Lev 0.0287 34.8698 DKK Danish Krone 0.1085 9.2192 EGP Egyptian Pound 0.114 8.774 HKD Hong Kong Dollar 0.1473 6.789 HUF Hungarian Forint 4.6042 0.2172 IDR Indonesian Rupiah 171.50 0.0058 ILS Israeli Sheqel 0.0723 13.8392 IQD Iraqi Dinar 22.114 0.0452 IRR Iran Rial 211.04 0.0047 ISK Icelandic Krona 2.3203 0.431 KES Kenyan Shilling 1.609 0.6215 KRW South Korean Won 21.930 0.0456 LKR Sri Lankan Rupee 2.1538 0.4643 MAD Moroccan Dirham 0.162 6.1712 MUR Mauritius Rupee 0.5551 1.8014 MXN Mexican Peso 0.2625 3.809 MYR Malaysian Ringgit 0.0599 16.6849 NOK Norwegian Krone 0.113 8.8529 PHP Philippine Peso 0.8295 1.2055 QAR Qatari Riyal 0.0689 14.5205 RUB Russian Rouble 0.6058 1.6507 SAR Saudi Riyal 0.0709 14.1027 SEK Swedish Krona 0.1302 7.6802 SGD Singapore Dollar 0.0245 40.868 THB Thai Baht 0.5959 1.6781 TRY Turkish Lira 0.0358 27.9057 TWD Taiwan Dollar 0.5725 1.7466 ZAR South African Rand 0.1528 6.5456 Live Commodities Commodity Unit INR per Unit XAU Gold 83686.9909 XAG Silver 1499.5571 OIL Crude Oil 5308.0593 BRT Brent Oil 5759.8483 HEO Heating Oil 156.0769 NEED TO SEND MONEY ABROAD? If you need to send money abroad for any reason,such as regular overseas payments, purchasing overseas property, money transfers over £5,000, emigrating overseas, corporate transfers etc., then we recommend the UK's leading currency provider, TorFX. Please click here to request more information. EASY WAY TO MAKE REGULAR PAYMENTS This service is an extremely cost effective and simple way to transfer money abroad, and is aimed at clients who need to transfer between £500 - £10,000 on a regular basis. TorFX can offer an extremely competitive exchange rate on your transfers helping our clients save an average of 3% compared with exchange rates offered by High Street Banks.click here to request more information. Copyright © 2011 Exchangerates.org.uk. All Rights Reserved. Unsubscribe

Your Latest Currency Update INR - Exchange Rates UK - Mon, 2nd Jan 12 09:00 (UK)

Welcome to your Currency Update by Exchange Rates UK! Your chosen base currency converted to our top 40 worldwide currencies...and a few commodities! Should you require a free money transfer at best rates and no fees please click here CURRENCY RATES Base Currency: INR         Rates Taken: Mon, 2nd Jan 12 08:55 ** If you need to change base currency, email frequency/time sent or pause these emails click here ** Top 10 Currencies Currency Unit Units per INR INR per Unit GBP British Pound 0.0122 82.1438 EUR Euro 0.0146 68.6185 USD US Dollar 0.0189 53.0012 AUD Australian Dollar 0.0185 54.1821 CAD Canadian Dollar 0.0192 51.997 NZD New Zealand Dollar 0.0243 41.2333 CHF Swiss Franc 0.0177 56.4543 JPY Japanese Yen 1.4523 0.6886 INR Indian Rupee 1.0000 1.0000 AED United Arab Emirates Dirham 0.0692 14.4417 Popular Other Currencies Currency Unit Units per INR INR per Unit BRL Brazilian Real 0.0352 28.3836 BGN Bulgarian Lev 0.0287 34.8698 DKK Danish Krone 0.1085 9.2192 EGP Egyptian Pound 0.114 8.774 HKD Hong Kong Dollar 0.1465 6.8241 HUF Hungarian Forint 4.6042 0.2172 IDR Indonesian Rupiah 171.50 0.0058 ILS Israeli Sheqel 0.072 13.8965 IQD Iraqi Dinar 22.114 0.0452 IRR Iran Rial 211.04 0.0047 ISK Icelandic Krona 2.3203 0.431 KES Kenyan Shilling 1.609 0.6215 KRW South Korean Won 21.930 0.0456 LKR Sri Lankan Rupee 2.1538 0.4643 MAD Moroccan Dirham 0.162 6.1712 MUR Mauritius Rupee 0.5551 1.8014 MXN Mexican Peso 0.2638 3.7911 MYR Malaysian Ringgit 0.0599 16.6849 NOK Norwegian Krone 0.1128 8.8624 PHP Philippine Peso 0.8295 1.2055 QAR Qatari Riyal 0.0689 14.5205 RUB Russian Rouble 0.6058 1.6507 SAR Saudi Riyal 0.0709 14.1027 SEK Swedish Krona 0.1298 7.7023 SGD Singapore Dollar 0.0245 40.8462 THB Thai Baht 0.5959 1.6781 TRY Turkish Lira 0.0357 27.9737 TWD Taiwan Dollar 0.5725 1.7466 ZAR South African Rand 0.1525 6.5588 Live Commodities Commodity Unit INR per Unit XAU Gold 82958.7328 XAG Silver 1476.3472 OIL Crude Oil 5242.6092 BRT Brent Oil 5686.2289 HEO Heating Oil 154.8853 NEED TO SEND MONEY ABROAD? If you need to send money abroad for any reason,such as regular overseas payments, purchasing overseas property, money transfers over £5,000, emigrating overseas, corporate transfers etc., then we recommend the UK's leading currency provider, TorFX. Please click here to request more information. EASY WAY TO MAKE REGULAR PAYMENTS This service is an extremely cost effective and simple way to transfer money abroad, and is aimed at clients who need to transfer between £500 - £10,000 on a regular basis. TorFX can offer an extremely competitive exchange rate on your transfers helping our clients save an average of 3% compared with exchange rates offered by High Street Banks.click here to request more information. Copyright © 2011 Exchangerates.org.uk. All Rights Reserved. Unsubscribe

Your Latest Currency Update INR - Exchange Rates UK - Sun, 1st Jan 12 09:00 (UK)

Welcome to your Currency Update by Exchange Rates UK! Your chosen base currency converted to our top 40 worldwide currencies...and a few commodities! Should you require a free money transfer at best rates and no fees please click here CURRENCY RATES Base Currency: INR         Rates Taken: Sun, 1st Jan 12 08:55 ** If you need to change base currency, email frequency/time sent or pause these emails click here ** Top 10 Currencies Currency Unit Units per INR INR per Unit GBP British Pound 0.0122 82.2192 EUR Euro 0.0146 68.5337 USD US Dollar 0.0189 52.8863 AUD Australian Dollar 0.0185 53.9861 CAD Canadian Dollar 0.0193 51.7864 NZD New Zealand Dollar 0.0243 41.1123 CHF Swiss Franc 0.0178 56.3377 JPY Japanese Yen 1.454 0.6878 INR Indian Rupee 1.0000 1.0000 AED United Arab Emirates Dirham 0.0694 14.4104 Popular Other Currencies Currency Unit Units per INR INR per Unit BRL Brazilian Real 0.0352 28.3835 BGN Bulgarian Lev 0.0287 34.8698 DKK Danish Krone 0.1085 9.2192 EGP Egyptian Pound 0.114 8.774 HKD Hong Kong Dollar 0.1469 6.8092 HUF Hungarian Forint 4.6042 0.2172 IDR Indonesian Rupiah 171.50 0.0058 ILS Israeli Sheqel 0.0721 13.8749 IQD Iraqi Dinar 22.114 0.0452 IRR Iran Rial 211.04 0.0047 ISK Icelandic Krona 2.3203 0.431 KES Kenyan Shilling 1.609 0.6215 KRW South Korean Won 21.930 0.0456 LKR Sri Lankan Rupee 2.1538 0.4643 MAD Moroccan Dirham 0.162 6.1712 MUR Mauritius Rupee 0.5551 1.8014 MXN Mexican Peso 0.2638 3.7901 MYR Malaysian Ringgit 0.0599 16.6849 NOK Norwegian Krone 0.1131 8.8432 PHP Philippine Peso 0.8295 1.2055 QAR Qatari Riyal 0.0689 14.5206 RUB Russian Rouble 0.6058 1.6507 SAR Saudi Riyal 0.0709 14.1028 SEK Swedish Krona 0.1301 7.6873 SGD Singapore Dollar 0.0245 40.7926 THB Thai Baht 0.5959 1.6781 TRY Turkish Lira 0.0357 27.9794 TWD Taiwan Dollar 0.5725 1.7466 ZAR South African Rand 0.153 6.5372 Live Commodities Commodity Unit INR per Unit XAU Gold 82778.9816 XAG Silver 1472.8839 OIL Crude Oil 5231.2498 BRT Brent Oil 5673.9083 HEO Heating Oil 154.5497 NEED TO SEND MONEY ABROAD? If you need to send money abroad for any reason,such as regular overseas payments, purchasing overseas property, money transfers over £5,000, emigrating overseas, corporate transfers etc., then we recommend the UK's leading currency provider, TorFX. Please click here to request more information. EASY WAY TO MAKE REGULAR PAYMENTS This service is an extremely cost effective and simple way to transfer money abroad, and is aimed at clients who need to transfer between £500 - £10,000 on a regular basis. TorFX can offer an extremely competitive exchange rate on your transfers helping our clients save an average of 3% compared with exchange rates offered by High Street Banks.click here to request more information. Copyright © 2011 Exchangerates.org.uk. All Rights Reserved. Unsubscribe