The 16-nation European currency showed the strong performance this summer, just as most traders lost any confidence in the currency. The questions, which of course sits in many minds, is: can the euro sustain its rally? Everything can happen, as the euro showed by its rally, but few economists believe that the currency will continue its rally for the long time. The main reason for the concerns is the austerity measures, taken by the European governments … “Can Euro Sustain Its Rally? Unlikely”
Month: August 2010
Pound Rises as UK Economy Grows
The Great Britain pound strengthened today against the US currency to the highest level in almost six months as the economic data showed that Britain’s economy expanded faster than the analysts anticipated. The gross domestic product increased 1.1 percent in the second quarter of 2010, compared with the increase of 0.3 percent in the previous quarter. The experts predicted the 0.6 percent growth. The manufacturing PMI posted 57.3 in July, down from 57.6 in June. Even … “Pound Rises as UK Economy Grows”
Swiss Franc Fall Despite Record Industrial Activity
The Swiss franc fell today against the US dollar and the euro, as the rally of the equities damped the demand for the currency as the safe haven, despite of the favorable fundamentals. The Stoxx Europe 600 Index climbed as much as 1.9 percent. The rally of the stocks outweighed the data, showing that the industrial activity reached the all-time record. The SVME PMI rose from 65.7 in June to 66.9, the all-time highest level, the last month. USD/CHF rose from 1.0402 to 1.0441 today … “Swiss Franc Fall Despite Record Industrial Activity”
Jobs Hangover Continues? Non-Farm Payrolls Preview
It’s the first week in the month, and Friday brings the king of forex – Non-Farm Payrolls. We’re expecting to see another significant drop in jobs – still the after-effect of the government census, but also a reflection of the slowdown. Here’s a preview for this major release, including things to watch out for, and … “Jobs Hangover Continues? Non-Farm Payrolls Preview”