Canadian Imperial Bank of Commerce — News Archive


Franc Falls as Bernanke Improves Sentiment on Markets

The Swiss franc slumped today after Federal Reserve Chairman Ben. S. Bernanke spoke today, improving sentiment on markets, while rumors abound that Switzerland’s policy makers are preparing another action to weaken the Swiss currency.

Stocks & Commodities Helps Loonie Erase Losses

The Canadian dollar jumps today for the fourth day, erasing its monthly losses against the US dollar, as the positive outcome of the second Greek vote boosted commodities and stocks, increasing appeal of higher-yielding currencies.

Euro Falls After Confidence Vote

The euro dropped today even after Greece’s Prime Minister George Papandreou won the confidence vote as traders think that he’ll struggle to implement austerity measures.

Risk Appetite Saps Strength of Swiss Franc

The Swiss franc was little changed after it dropped yesterday as the rally of stocks caused investors to turn their attention from the safe currencies to the higher-yielding ones.

Poor Economic Reports Signal About Slower Recovery, CAD Down

The Canadian dollar fell today as the investors’ sentiment shifted to the risk aversion after the reports from the US, Europe and Canada itself signaled that the global recovery is faltering, decreasing the appeal of the growth-related currencies. The currency rose against the euro.