The Swiss franc against most major currencies as stocks and commodities declined and on speculation that the central bank will raise the interest rates. The Standard & Poorâs 500 Index dropped 0.7 percent, while the Thomson Reuters/Jefferies CRB Index of raw materials lost 1.8 percent. The indebtedness of developed countries continues to restrain investors’ willingness to risk. Vice President of the Swiss National Bank Thomas Jordan said that the central bank will … “Swiss Franc Gains on Safety Demand, Rates Outlook”
Month: May 2011
Retail Sales Make Unpleasant Surprise, Sending AUD Down
The Australian dollar fell today, posting the fourth day of losses against its US counterpart, after the report showed an unexpected drop of the Australian retail sales. Australian retail sales fell 0.5 percent in March, after the four month of increases, including the rise by 0.8 percent in February. Forecast promised a growth by 0.6 percent. The decline of sales shows that the Australian consumers remain cautious in their spending and unsure about their economic … “Retail Sales Make Unpleasant Surprise, Sending AUD Down”
Employment Data from New Zealand Boosts Kiwi
The New Zealand dollar climbed today, reducing its previous losses, after the report demonstrated positive tendencies in the employment of Canada’s citizens. Canadian employers added 30,000 jobs in the first quarter of this year, resulting in the employment growth of 1.4 percent, compared to predicted 0.5 percent. In the previous three months the employment shrank by 0.4 percent. The unemployment rate was reduced to 6.6 percent, while it was expected to remain unchanged at 6.7 … “Employment Data from New Zealand Boosts Kiwi”
Canadian Dollar Falls, Yet Can Regain Strength on Employment
The Canadian dollar tumbled today as the decline of commodities and global stocks diminished appeal of currencies linked to economic growth, yet the Canadian currency may rebound if the employment reports this week would be favorable. The Standard & Poorâs 500 Index fell 0.7 percent and the MSCI World Index of stocks dropped 0.8 percent. Crude oil futures slid 2 percent to $108.81 per barrel in New York. Crude oil … “Canadian Dollar Falls, Yet Can Regain Strength on Employment”
Dow Jones FXCM Dollar Index Announced
A new tradable dollar index enters the scene: FXCM is collaborating with Dow Jones to provide an index that compares the greenback with the next four most traded currencies: the euro, pound, yen and the Aussie. Yes, the Aussie is in and the Swissy is out. This reflects the trends in trading for quite a … “Dow Jones FXCM Dollar Index Announced”
EUR/JPY Losing Downside Momentum
Although the EUR/JPY cross remains under pressure on correction, its present rejection of lower level prices in early trading today suggests an end to its corrective weakness may be developing. Guest post by www.fxtechstrategy.com However, the cross will have to climb above the 121.79 level, its April 28’2011 high and 123.29 level, its 2011 high … “EUR/JPY Losing Downside Momentum”
Will ECB Raise Interest Rates Tomorrow? Euro Bulls Hope So
The euro advanced versus 14 of 16 most traded currencies, including the US dollar, today as euro bulls hope that the European Central Bank will increase its interest rates tomorrow. The euro surged at the beginning of the trading session, but fell by 8:00 GMT. Yet currently the shared European currency is steadily pushing higher. The EUR/USD currency pair reached earlier this weak 1.4901, the highest level since December … “Will ECB Raise Interest Rates Tomorrow? Euro Bulls Hope So”
Lower UK House Prices Make Pound Weaker
The Great Britain pound slipped today after the report showed that the house prices in Britain unexpectedly decreased in April, confirming the weakness of the UK economy. The report by Nationwide showed today that the house prices in Britain dropped 0.2 percent in April, while experts hoped for an increase by 0.3 percent. That leaves the prices 1.3 percent lower than in the same period last year. The poor macroeconomic data reduces incentive for the Bank of England … “Lower UK House Prices Make Pound Weaker”
More Strong Vigilance? ECB Preview
The ECB is expected to leave the interest rate unchanged after the hike last month. The big question is which code words will Jean-Claude Trichet use at the press conference. Here are three factor pushing for a hawkish stance, and three factors pushing for a dovish one. ECB Preview. After two years, the European Central … “More Strong Vigilance? ECB Preview”
Canadian Dollar Extends Decline as Global Stocks Goes Down
Canada’s ruling party won majority in the Parliament, increasing confidence in the ability of Canada’s economy to sustain its growth, but that didn’t helped the Canadian dollar as the decline of global stocks outweighed the positive news. The ruling Conservative Party won majority in the Canadian Parliament, ending seven years of minority governments. Party leader and Canada’s Prime Minister Stephen Harper promised to fix the imbalances of Canada’s economy, even though he plans tax … “Canadian Dollar Extends Decline as Global Stocks Goes Down”