The Canadian dollar declined today amid the concerns for the economic recovery, which prompted the traders to cut the bets on the increase of the interest rates by the central bank. The concerns were strengthened by the U.S. nonfarm payrolls, which dropped to 125,000 in June, compared to the expected decline by 106,000. The Canadian economy hasn’t showed the very good results either, as its growth had stalled in April. August delivery for crude oil, the main nation’s export, dropped by $1.18 cents … “Canadian Dollar Drops on Outlook for Rates & Growth”
Month: July 2010
Dollar Drops on Lower Than Expected Nonfarm Payrolls
The U.S. dollar dropped today against the euro as the macroeconomic indicators added to the evidences that the U.S. economic recovery is slowing, decreasing the appeal of the greenback as the safe currency. Nonfarm payrolls were worse than expected, posting the 125,000 decline in June, compared to the forecast drop by 106,000. New orders for manufactured goods decreased 1.4 percent in May, following eight consecutive monthly increases, while the median forecast was a decline by only 0.5 … “Dollar Drops on Lower Than Expected Nonfarm Payrolls”
Risk Sentiment Improves, Driving Yen Down
The Japanese yen fell today against other most-traded currencies after the Australian government agreed to review the mining taxes, improving the global risk sentiment. The previous Australian Prime Minister Kevin Rudd had proposed a 40 percent tax on all resources. The current Prime Minister Julia Gillard proposed that the mineral resources rent tax would be set at 30 percent, applying to iron ore and coal, while the rent tax … “Risk Sentiment Improves, Driving Yen Down”
Mexican Peso Weakens on Bad News From U.S.
The Mexican peso weakened today, falling against the dollar for the whole week, after the reports showed that the index of the pending home sales in the U.S. fell and the jobless claims unexpectedly increased. The U.S. is Mexico’s biggest trading partner. Therefore, the troubling news about the U.S. house market and the employment had its negative impact on Mexico’s currency. USD/MXN traded near 13.017 as of 8:39 GMT today after it opened at 13.004. If you … “Mexican Peso Weakens on Bad News From U.S.”
Proper Money Management Will Make Forex More Mainstream
In the third article about making forex more mainstream, we’ll examine the role of money management – a buzzword often heard but rarely practiced. Previous article: Forex Education – The First Step to Make Forex More Mainstream. Previous article 2: Forex in Banks – Essential for Bringing Forex to the Masses With stock portfolios, people are … “Proper Money Management Will Make Forex More Mainstream”
Franc Falls, Causing Talks About SNB Intervention
The Swiss franc dropped today against the euro, leading to the speculation that the Swiss National Bank renewed its selling of the franc to prevent the strong currency from harming the economy; the U.S. dollar demonstrated the worse performance, therefore against the greenback the Swiss currency rose. Previously the franc grew as the report indicated that the Swiss manufacturing expanded for the 10th month. The SNB said on June 17th that the pressure of the deflation has mostly gone, hinting … “Franc Falls, Causing Talks About SNB Intervention”
Dollar Goes Down on Signs of Faltering Recovery
The U.S. dollar weakened today on the signs that the economic recovery in the U.S. might slow and as the European fiscal system showed the signs of recovery, damping the appeal of the U.S. currency as the safe haven. The initial jobless claims unexpectedly increased to 472,000 from 459,000, while the forecasts promised the decline to 454k. The manufacturing sector continued to grow during June; however, the rate of growth as indicated by the ISM PMI, which dropped to 56.2% in June from 59.7% in the month … “Dollar Goes Down on Signs of Faltering Recovery”
Canadian Dollar Declines as Economic Growth Halts
The Canadian dollar fell today to the lowest level since July 7th against the U.S. currency and to the lowest level in more than a month versus the euro after the report showed that Canada’s economic growth halted in April and the U.S. employers added fewer jobs than was expected. Canada’ gross domestic product was unchanged in April after seven consecutive monthly increases, while the analysts predicted 0.2 percent growth. The U.S. … “Canadian Dollar Declines as Economic Growth Halts”
Chilean Peso Falls on Low Economic Activity
The Chilean peso weakened today against the euro as the industrial output and sales rose less than forecast and the mining production fell. Industrial sales grew 0.5 percent compared to the previous year, while the median forecast was 3.1 percent. Industrial output rose 4.2 percent, compared to the predicted 4.7 percent. The less-then-expected economic activity together with the concern for the global economy dragged down the peso. EUR/CLP traded near 671.5200 as of 9:13 … “Chilean Peso Falls on Low Economic Activity”
Forex in Banks – Essential for Bringing Forex to the
Having the ability to trade currencies using regular banks will be a big step forward in bringing forex trading to the masses. This is the second article in a series of articles about forex coming to the mainstream. Previous article: Forex Education – The First Step to Make Forex More Mainstream. Most people make investments … “Forex in Banks – Essential for Bringing Forex to the”