Main world currency on the first trimester of 2012

By Adina Moloman

Sources: Businessweek, Worldonlinebank.net

Even when Mexico peso fell 0.8 percent to 12.8122 per U.S. dollar, registered yesterday, Mexico’s peso and the Australian dollar are still among the 16 major currencies on demand for higher-yielding assets.

So the investors might still play safe to bet on Mexico Manufacturing.

The Mexico peso slipped after manufacturing slowed in China (for a fifth successive month) and Europe, most specifically German and French manufacturing suffered a sharp decline.

Even when China is passing through a slowing period, it is considerable that fact that China is Australia’s biggest trading partner, where the Australian currency is strong enough considering its evolution during this first trimester of 2012.

Analysts are considering that  the euro zone cannot avoid recession even when European Central Bank’s are having a massive cash injection to made it more attractive to use the euro as a funding currency, while China  was facing more downward pressure than expected.

It seems that the yen was the only currency which continued on climbing about 0.1 percent to around 82.63 per dollar, while the dollar slipped just a little bit, 0.1 percent against a number of major currencies.

As Mexico’s economy is extremely dependent to the US economy, considering that sends around 80 percent of its exports to its neighbor.

The Mexican peso dipped considerable with the dollar during the last weeks.

There is an optimistic situation in all of it, as generally investors are confidents in the global economic recovery.