Currencies
The Canadian dollar led the losses in the foreign exchange market, in terms of trading on Tuesday, followed by the New Zealand dollar, recording losses in second place, and then followed by its commodity counterpart, the Australian dollar, which recorded losses in third place, while the Swiss franc suffered the least losses on the list of currencies in fourth and final place.
In this regard, we will explain the most important reasons affecting the most losing currencies:
The Canadian dollar is the first currency to decline
The Canadian dollar suffered the highest losses during market transactions today, as it recorded a decline of 1.40% against other foreign currencies, affected by the fall in oil prices during market transactions today, because Canada is considered one of the largest oil producers in the world, and this means that any negative impact The movements in oil prices in the market also negatively affect the performance of the Canadian dollar against its counterparts in other currencies.
The New Zealand dollar is the second losing currency
As for second place on the list of currencies with the highest losses, the New Zealand dollar recorded a decline of about 1.02% compared to other foreign currencies, as the New Zealand dollar was affected by weak risk appetite during today’s transactions, which caused a decrease in demand for the New Zealand dollar in global currency market transactions, given that it It is classified as a commodity currency for which demand decreases in conjunction with risk aversion.
Also, the New Zealand dollar suffered clear losses in the foreign exchange market, amid a decline in inflation expectations within New Zealand during the fourth quarter of this year, according to a survey conducted by the Reserve Bank of New Zealand, where inflation expectations for one year decreased to 3.6%, and for the next two years also slowed to 2.76%, compared to estimates. A precedent of about 2.83%, and these expectations reinforced speculation about the possibility of the Reserve Bank of New Zealand stopping the process of raising interest rates, which negatively affected the New Zealand dollar’s trading during foreign exchange market transactions.
The Australian dollar is the third declining currency
In third place, the Australian dollar suffered losses of 0.94%, affected by the decline in risk appetite during today’s trading, which reduced demand for the Australian dollar in the markets as it is a commodity currency.
The Swiss franc is the currency with the least loss
In addition, the Swiss franc recorded the smallest loss in the foreign exchange market today, Tuesday, at a rate of only 0.41% against other currencies in circulation, affected by previous statements by the Deputy Governor of the Swiss National Bank, Martin Schlegel, who said that although interest rates are working On the other hand, it helps to curb inflation, but it raises rental prices on the other hand, and this means that real estate prices within Switzerland may rise during the coming period, which has increased speculation about the possibility that the bank will continue to stop raising interest rates, which has caused the Swiss franc to decline against other currencies. Other foreign.
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2023-11-14 14:07:41
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