The euro rose against the U.S. dollar and the Japanese yen as the expanding Asian economies suggested that the global economic recovery wouldn’t be slowed by the troubles in Europe, boosting the stocks and easing the volatility on the global markets. Chinese exports rose by almost 50 percent compared to the previous year, while Japan reported that the consumer spending and the exports helped to expand the nation’s economy more that expected. The Standard & Poorâs 500 Index rose … “Asia Helped Euro Regain Its Strength”
Month: June 2010
New Zealand Dollar Rises with Interest Rates
The New Zealand dollar rose today after the central bank increased the interest rates, hinting that it’s more concerned with the inflation that with the appreciation of the nation currency. The Reserve Bank of New Zealand raised the official cash rate to 2.75 percent from the record-low 2.5 percent. The economists expect further increases of the interest rates as inflation predicted to jump to 5.3 percent in 2011 after the sales tax rose, increasing the prices. … “New Zealand Dollar Rises with Interest Rates”
Mexican Peso Rises as Consumer Prices Slow
The Mexican peso gained today for a third straight day against the U.S. dollar as the crude oil prices rose and on the expectation that the central bank won’t rise the interest rates after the consumer prices fell more than predicted. The consumer prices dropped 0.63 percent in May from April. The prices for crude oil, which is Mexico’s biggest export, rose 3.3 percent to $74.38 per barrel today. The analysts think that … “Mexican Peso Rises as Consumer Prices Slow”
Economic Recovery Bolsters Canadian Dollar
The Canadian dollar’s rally extended today for the second straight day against the U.S. dollar and the Japanese yen and for the third consecutive day versus the euro as the equities gained and the prices for crude oil, the main nation’s export, increased, spurring the demand for the currencies tied to growth. The Standard and Poorâs 500 Index rose by 1.1 percent. The expanding U.S. economic recovery drained the oil inventories, boosting the demand. July delivery for crude oil advanced by 3.8 percent. … “Economic Recovery Bolsters Canadian Dollar”
Euro Gains for Second Day, but Will Rally Be Sustained?
The euro rose today against the U.S. dollar and the Japanese yen for the second straight day on the rising commodity prices and the equities. The European stocks gained on the report that China’s exports jumped 50 percent from the previous year, giving hope that the global economic recovery will continue despite of the European woes. Germany and France attempts to convince other EU leaders to ban the naked short sales of some stock and bonds as Angela Merkel … “Euro Gains for Second Day, but Will Rally Be Sustained?”
Yen Strengthens of European Concerns
The Japanese yen strengthened today as the traders worry about the impact of the sovereign-debt crisis in Europe, increasing the appeal of the safer currencies. The investors are concerned about the U.K. economy after Fitch Ratings said that the formidable challenges lay ahead for the Britain’s economic recovery. The European Union problems also boost the risk aversion sentiment, as the efforts of the European leaders to stem the spread of the fiscal crisis haven’t convinced the traders, driving them to seek the perceived … “Yen Strengthens of European Concerns”
Hungarian Forint Gains on Pledge to Avoid Default
The Hungarian forint gained today for the third consecutive day after Hungary’s government pledged to cut the budget shortfall, easing the concerns about the possible default. Hungary, the first member of the European Union received the international bailout, needs to cut the budget deficit to 3.8 percent in 2010 from the last year’s 4 percent. The government’s pledge to take actions in order to avoid the default eased the concerns somewhat, but not all economists were convinced … “Hungarian Forint Gains on Pledge to Avoid Default”
NZ Dollar Rises on Speculations About Increasing Rates
The New Zealand dollar rose today after two days of decline against its U.S. counterpart, the euro and the Japanese yen as the Asian stocks gained and the commodity prices increased, boosting the demand for the higher-yielding assets. The New Zealand currency also strengthened on the speculation that the Reserve Bank of New Zealand will raise its record low interest rates on June 10. The central bank expected to raise the official cash rate from a record … “NZ Dollar Rises on Speculations About Increasing Rates”
Canadian Dollar Gains as Traders Seek Safety
The Canadian dollar gained today as the robust Canadian economy increases the appeal of the currency as the safe have, therefore drawing the investors, who seek the safety from the European debt crisis. Canada, together with the U.S., has the fastest growing economy this year among the Group of Seven nations and the the lowest net debt-to-output ratio. The report last week, which showed the increasing employment and the stable unemployment rate, also added to the signs of Canada’s economic … “Canadian Dollar Gains as Traders Seek Safety”
Hungarian Forint Gains on Government’s Budget Plans
The Hungarian forint, which dropped previously on the speculations about the possible default in Hungary, strengthened today for a second day after Hungarian government pledged to stick to the budget deficit goal. Mihaly Varga, the state secretary of the Prime Minister’s Office and the former Minister of Finance, said that the government plans to meet the 3.8 percent target agreed with the International Monetary Fund and the European Union. According to his words: Calmly, but firmly, we must … “Hungarian Forint Gains on Government’s Budget Plans”