Canadian job figures surprised once again – 24,700 jobs were gained, 50% more than expected. The unemployment rate remained unchanged at 8.1%. No surprise here, but this is still great. The Canadian dollar wasn’t excited. The Canadian Department of Labour Force Survey showed that gains were mostly seen in the services industries, and included gains … “Strong Canadian Job Growth Leaves Loonie Unexcited”
Month: June 2010
European Debt Crisis Continues to Bury Euro
The euro weakened today as the debt crisis undermines the economy of the European Union, while the U.S. economy shows the signs of the accelerating recovery, lessening the impact of the European woes on the global markets. The good news emerged from the U.S. labor market as the initial unemployment claims decreased by 10,000 to 453,000 in the week ending May 29 from 463,000 the week before. The economic activity in the non-manufacturing sector, which make up almost 90 percent of the U.S. economy, … “European Debt Crisis Continues to Bury Euro”
NZ Dollar Rises in Spite of Bollard’s Desire for Depreciation
The New Zealand strengthened today as the favorable data from the U.S. added to the signs of the economic recovery, while the New Zealand’s trade surplus may prompt the central bank to increase the interest rates; against the U.S. dollar the kiwi experienced volatility and currently fell. The predictions that the U.S. employers offered more jobs last month together with the rising equities (Standard and Poorâs 500 Index rose by 0.5 percent) add to the evidences of the global … “NZ Dollar Rises in Spite of Bollard’s Desire for Depreciation”
Higher Tensions towards the Non-Farm Payrolls
The tension in the markets is rising towards the release of May’s Non-Farm Payrolls. The already high expectations were raised on new data that has emerged. Updated towards the big event. EUR/USD returned back to the range after making a dip earlier this week. Another move after today’s figures was also contained. The markets are … “Higher Tensions towards the Non-Farm Payrolls”
Global Recovery Makes Yen Less Attractive
The Japanese yen extended today its yesterday’s decline versus the U.S. dollar and the euro as the signs of the accelerating global recovery diminished the appeal of the Japanese currency as the safe haven. The forecasts about the improving situation on the U.S. labor market add to the signs of the widening economic recovery. In the same time, the speculations that the new Japan’s leader will encourage the depreciation of the yen make the currency less attractive to the investors. USD/JPY rose to about 92.69 as of 12:12 GMT … “Global Recovery Makes Yen Less Attractive”
House Prices & Equities Helped Pound to Rise
The Great Britain pound extended its advance against the U.S. dollar today as the growing house prices and the rising nation’s equities, which previously fell, signaled that the economic recovery accelerates. The average cost for a house rose by 0.5 percent the last month to the highest level in almost two years. It’s still early to say whether the recovery is sure, but it looks like the environment become somewhat more favorable to the risk. … “House Prices & Equities Helped Pound to Rise”
Gold ATMs Going Global – A Sign for Currencies?
Gold to Go, the manufacturer of gold ATMs, is working hard to meet the demand for its vending machines. From a gimmick of two machines operating now, their business will grow to 50 quite soon. This is the result of the rising prices in gold. Is this is a sign for the Euro? For the … “Gold ATMs Going Global – A Sign for Currencies?”
Brazilian Real Bolstered by Favorable U.S. Economic Data
The Brazilian real rose today as the favorable economic data from the U.S. caused the speculations that the Europe’s problems won’t be affecting the nation’s economy that much. The pending home sales have risen for the three consecutive months, reaching the highest level since last October and reflecting the broad impact of the home buyer tax credit and the favorable housing affordability conditions. The Pending Home Sales Index rose 6.0 percent in April, following … “Brazilian Real Bolstered by Favorable U.S. Economic Data”
Loonie Boosted by Employment Outlook, Oil & Stocks Prices
The Canadian dollar gained today against its U.S. counterpart and the euro, paring its yesterday’s losses, on the outlook for the rising employment and the increasing prices of the equities and crude oil. Canadian employers added 108,700 jobs in April; the report for the previous month will be released on Friday this week. The Standard & Poorâs 500 Index rose 0.3 percent. Futures for crude oil went up as much as 0.5 percent. The analysts expect that … “Loonie Boosted by Employment Outlook, Oil & Stocks Prices”
Kiwi Drops vs. Aussie on Lower Interest Rates
The New Zealand dollar dropped today against its Australian counterpart on the concerns that the Aussie will be more attractive to the investors, interested in carry trade, because of the higher interest rates in Australia. John Key, the Prime Minister of New Zealand, said: The carry trade is there although one could make the case it is less attractive at the moment than Australia where interest rates are a full 2 percentage … “Kiwi Drops vs. Aussie on Lower Interest Rates”