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World Currencies Mostly Up -- The Yen Sinks, The Krona Pops

Jan. 13, 2011 4:43 PM ETFXA, FXM, BZF, FXY, FXC, FXF, FXS, DBV, CYB, UDN, FXB, FXE
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MyPlanIQ tracks trends in multiple categories using ETFs. 

Most Currencies are up -- The Australian Dollar lead at the top continues to shrink as it slowly declines and the Peso continues its rise. The Krona jumps back into third spot having lost it for a week and the Yen tumbles three places.

At the bottom, the US Dollar and the pound jumped over the Yuan but the Real and Euro remain mired at the bottom of the table.

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 01/14
Australia Dollar FXA 4.81% 4.9% v
Mexican Peso FXM 4.72% 3.02% ^
Swedish Krona FXS 4.46% 0.65% ^
Canadian Dollar FXC 3.05% 2.49% ^
Swiss Franc FXF 3.03% 2.38% ^
Japanese Yen FXY 2.47% 3.05% v
G10 Carry Trade DBV 2.03% 1.05% ^
British Pound FXB 0.91% -1.06% ^
US Dollar Bearish UDN 0.84% -1.99% ^
Chinese Yuan CYB 0.4% 0.08% ^
Euro FXE -0.63% -4.34% ^
Brazilian Real BZF -4.32% -5.61% ^


The Australian Dollar is being a force of nature -- flooding and a force of economics -- rising inflation in China that leads to anti-inflation measures that also have a downward pressure on their currency. This is likely to be in play for a few more weeks yet so expect some continued easing of the recent highs.

The Mexican Peso continues to rise based on strength in the US and being well placed to produce the goods (cars, TV's) that are seeing growth. There is some concern with its link to the weaker dollar.

With record growth, healthy public finances, booming exports and a soaring krona, Sweden has  skirted Europe's debt woes, but with a worried eye on the aching eurozone observers say it could be rougher sailing ahead. "Crisis? What Crisis," was the headline used last week by a local newspaper reporting that only 20 percent of Swedes say they are at all affected by the ongoing European debt crisis.

The Brazilian Real, while at the bottom of the pile is starting to move up as interest rates are being raised. We expect to see a larger jump next week.

The Euro jumped as Analysts said investors were optimistic the European Union's rescue fund will ultimately offer a comprehensive solution to help euro zone countries finance mounting debts.

The Yuan is still mired in concerns about its value and the pressure of inflation within China. It's an up and coming currency but still has a way to go.

This was a good week for currencies except for the Yen.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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