The US dollar slipped today as the concerns for the global economic recovery eased and the demand for the safer currencies decreased after the positive macroeconomic data from the US was released, but the currency gradually returns to the levels at which it started today’s trading session. The claims for the jobless benefits decreased from 478,000 to 451,000 last week. The median forecast was 470,000. The deficit of the US trade balance shrank to $42.8 billion in July. In June it … “Dollar Fluctuates After Release of Good US Macroeconomic Data”
Month: September 2010
Canadian Dollar Will Rise Somewhat, But Gains Should Be Limited
The outlook for the Canadian dollar improved after Canada’s central bank raised the interest rates and issued the statement, which was much more hawkish than expected. Still, the uncertainty about the global economic growth will likely limit the potential loonie’s gains. The Bank of Canada decided to raise its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The bank mentioned in its statement that “the global economic recovery … “Canadian Dollar Will Rise Somewhat, But Gains Should Be Limited”
AUD/USD at Highest Level Since May 4th
The Australian dollar surged to the highest level since May versus the US currency after the government report showed that the employment in Australia increased more than forecast and the unemployment rate dropped. The employers added 30,900 jobs in August, following the growth by 25,000 in the previous month. The forecast figure was 27,200 jobs. The 30,900 jobs in August decreased to 5.1 percent, compared to the previous reading of 5.3 percent and the predicted 5.2 percent. The report encouraged … “AUD/USD at Highest Level Since May 4th”
Euro Drops on Doubts in Strength of European Banks
The euro slid today on the speculation that the banks of the European Union would have hard time to raise the funds amid the signs of the slower economic growth in the region. For now, the currency rose somewhat, but still weaker than yesterday. Juergen Stark, the member of the Executive Board of the European Central Bank, said that Germany’s bank require more capital, especially the Sparkasse savings banks, which werenât stress tested, and the state-owned Landesbanks. The industrial … “Euro Drops on Doubts in Strength of European Banks”
Swiss Franc Drops on Lower Demand for Safety
The Swiss franc slumped today against the euro as the equities gained, decreasing the demand for the safe haven, provided by the Swiss currency. The franc fluctuated versus the dollar as the US currency also was affected by the weaker demand for the safety. The Standard & Poorâs 500 Index gained 0.8 percent, while the Stoxx Europe 600 Index rose as much as 1.2 percent. The concerns for the European economy were eased by the results of the Portuguese debt auction. The demand for the Swiss … “Swiss Franc Drops on Lower Demand for Safety”
Bank of Canada Raises Interest Rates, Loonie Rises
The Canadian dollar rebounded today against its US counterpart and rose versus the euro for the forth straight day as the Canadian central bank raised the interest rates and suggested that it may continue to raise the rates in the future as Canada’s economy still grows, albeit with the slower pace. The Bank of Canada increased the target rate from 0.75 percent to 1 percent. It said in its policy statement that “financial conditions in Canada … “Bank of Canada Raises Interest Rates, Loonie Rises”
Malaysian Ringgit Rises Together with Other Asian Currencies
The Asian currencies, including the Malaysian ringgit, gained today as the speculation, that the region’s economic growth would outpace the US and the European expansion, continues to attract the foreign investors to Asia. The analysts expect today’s report to show that Germany’s exports haven’t grown in July, fueling the concerns for the European economy. The Asia Dollar Index, tracking the Asian 10 most-traded currencies excluding the Japanese yen, gained 0.1 percent after it touched 112.56 … “Malaysian Ringgit Rises Together with Other Asian Currencies”
Rand Weakens for Third Day as Manufacturing Growth Stalls
The South African rand fell today for the third day against the US dollar as the economists predict that the report would show the slower pace of the manufacturing growth, signaling that South Africa’s economy declines. According to the analysts’ estimates, the manufacturing expanded 6 percent in July, compared with 8.8 percent in June. The manufacturing accounts for about 15 percent of South Africa’s economy. The nation’s economic growth slowed from 4.6 percent in the first … “Rand Weakens for Third Day as Manufacturing Growth Stalls”
EUR/USD Sep. 8 – Weber Contributes to Downfall
EUR/USD took a hard hit on the fresh news about the European debt crisis and deteriorated sharply. It ranges lower. Will it lose the critical support line? Here is a quick update on technicals, fundamentals and community trends. EUR/USD broke below two uptrend support channels. Click to enlarge. EUR/USD Technicals Asian session: Busy session, with … “EUR/USD Sep. 8 – Weber Contributes to Downfall”
Global Economic Environment is Bad for Canadian Dollar
The Canadian dollar slumped today against the US dollar on the concerns that the European sovereign-debt crisis may worsen and as the stocks and crude oil declined. The euro was hurt by the concerns about the sovereign debt more than the Canadian currency, therefore the loonie rose against the shared 16-nation European currency. The Standard & Poorâs 500 Index went down 0.8 percent and the MSCI World Index of stocks dropped 1 percent. October delivery … “Global Economic Environment is Bad for Canadian Dollar”