The Canadian dollar was rising against the US dollar, than sharply dropped, and now is trying to rebound as the global and the domestic fundamentals looks favorable for the currency. The currency slipped against the euro. Mark Carney, the Governor of the Bank of Canada, voiced his concern about the strength of the Canadian currency last week in the interview at the World Economic Forumâs annual meeting: One of the risks to the Canadian economy is persistent strength to the Canadian dollar. We have … “Loonie’s Strength Threatens Canadian Economy Carney Says”
Month: January 2011
Israel Hit By Grad Rockets from Gaza
Grad rockets have hit the Israeli southern towns of Ofakim and Netivot. They were sent by the Hammas controlled Gaza strip, following the uprising in Egypt. No injuries were reported. On Monday evening, one Grad missile fell near Netivot and caused serious damage to a car. Another rocket hit Ofakim. A few people were terrified, … “Israel Hit By Grad Rockets from Gaza”
NZD Benefits from Recovering Economy
The New Zealand dollar rose slightly against its US counterpart as the New Zealand economy slowly recovers from its previous recession. The currency slipped against its Australian counterpart. The economy of New Zealand was hurt by the earthquake in Christchurch region last year, as well as the global recession earlier, and now attempts to recover, benefiting from rising commodity prices. Alan Bollard, the Governor of the Reserve Bank of New Zealand, said: “We … “NZD Benefits from Recovering Economy”
Muslim Brotherhood Wants War With Israel
Mohamed Ghanem, one of the leaders of the Muslim Brotherhood in Egypt, calls Egypt to stop pumping gas to Israel and prepare the Egyptian army for a war with it’s eastern neighbor. Speaking with Iranian television station Al-Alam, Mohamed Ghanem blamed Israel for supporting Hosni Mubarak’s regime. Ghanem also said that the Egyptian police and … “Muslim Brotherhood Wants War With Israel”
Euro Rises with Consumer Prices
The euro rose against the US dollar today after the report showed consumer prices in the Eurozone advanced more than the analysts forecast. The annual inflation in the Eurozone is expected to be 2.4 percent in January 2011 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was 2.2 percent in December 2010. The median estimate of the economists on Bloomberg was 2.3 percent. EUR/USD advanced today from 1.3578 to 1.3652 … “Euro Rises with Consumer Prices”
Martin Weale Less Supportive of Rate Hike
Last week’s meeting minutes from the MPC revealed that there’s one more member, Martin Weale, that is supportive of a rate hike. Weale joined Sentance that has voted for a hike for quite a long time. But Weale’s vote came before the horrible GDP figure which showed that the British economy squeezed by 0.5% in … “Martin Weale Less Supportive of Rate Hike”
Fitch Warns About Spanish Mortgage Ruling
Rating agency Fitch became aware of a court case in which the judge denied the bank of its will to continue getting the mortgage after getting the house. If the appeal won’t reverse this ruling, it could be a precedent that could hurt the Spanish banking system. Tracy Alloway reports: In a Friday statement, the … “Fitch Warns About Spanish Mortgage Ruling”
Egyptian Army Against Mubarak
The Egyptian army seems to side with the protesters. They don’t seem to have any will to break the demonstrations, and they are held aloft the masses. The demonstration in Tahrir square in Cairo came out about alongside US-made tanks. The army just made sure no weapons were brought into the square. Also in Alexandria, … “Egyptian Army Against Mubarak”
US Dollar Declined This Week on Poor Macroeconomic Reports
This week was rather bad for the US currency even as the US economy demonstrated a moderate growth, which nevertheless wasn’t as good as the economists anticipated. The economic reports were for the most part worse than the forecasts promised, even though the data showed growth. One example of such reports was the report about the gross domestic product. Even as GDP expanded 3.2 percent in the fourth quarter of 2010, compared to the 2.6 percent growth … “US Dollar Declined This Week on Poor Macroeconomic Reports”
When Everybody’s Short, Who’s Left to Sell?
Speculators increased their bets against the dollar to the highest level since the beginning of November. Remember what happened then? Are the tables about to turn in favor of the dollar and against the Euro? The weekly report by the CFTC showed that the net short positions against the greenback jumped from 15.06 to 18.2 … “When Everybody’s Short, Who’s Left to Sell?”