The Canadian dollar gained versus the US dollar today, after reaching yesterday the lowest level in more than three months, as crude oil slowed its decline and stock advanced. Futures for delivery of crude oil in August slumped as much as 1.7 percent to $89.61 per barrel in New York, before rebounding to $90.81 a barrel, resulting in the 0.4 percent loss. The Standard & Poorâs 500 Index gained 0.9 percent, the first advance … “Canadian Dollar Rebounds vs. Greenback on Stocks & Oil”
Month: June 2011
Shrinking Trade Surplus Makes Kiwi Weaker
The New Zealand dollar fell against most its major peers today after the government report showed that the nation’s trade surplus shrank to almost half of its previous size. The New Zealand trade balance surplus narrowed to NZ$605 million in May from NZ$1.15 billion in April. The expected value was NZ$1.00 billion. The increase in imports was led by petroleum and related products. The main contributors to the export increase were ships, … “Shrinking Trade Surplus Makes Kiwi Weaker”
TransferUnion Getting Closer With Guaranteed Greek Bonds
Will Greece issue AAA bonds? This is a possibility discussed now. Greek bonds may carry a European Investment Bank guarantee, possibly giving it the perfect rating. With rich countries directly guaranteeing Greek bonds, there is no other way to look at it but as a TransferUnion that Germans are wary of. The current schemes for … “TransferUnion Getting Closer With Guaranteed Greek Bonds”
US Dollar Rallies Ahead of Vote in Greek Parliament
The US dollar gained against most of its major counterparts as the concerns about the outcome of Greece’s vote for the bailout. The hopes for Greece among some investors allowed the euro to bounce after the decline. The European Union leaders approved the â¬78 billion package for Greece, but now the Greek parliament should accept the measures necessary to get the loan. Many investors don’t believe that the austerity will pass the vote and such outlook drives them … “US Dollar Rallies Ahead of Vote in Greek Parliament”
Pound Regains Strength After Week of Losses
The Great Britain pound rose today against most major currencies, following the significant drop last week, on the speculation that the decline was overdone and the state of the UK economy isn’t bad enough to warrant such sell-off. Analysts expect that tomorrow’s government report will show that Britain’s current account deficit narrowed from £10.5 billion to £5.0 billion in the first quarter of this year. The final revision of the UK GDP … “Pound Regains Strength After Week of Losses”
US Dollar Index Recovering, USD/CHF Threatening to Resume Downtrend
Dollar Index: Recovery Sets Up For 76.36 Level. US Dollar Index: With a third week of recovery strength seen the past week, further bull pressure is likely to continue in the new week. The Index’s present offensive is coming on the back of a halt in its long term declines at the 72.62 level in … “US Dollar Index Recovering, USD/CHF Threatening to Resume Downtrend”
Week of Worries â Week of Gains for Franc
The Swiss franc gained almost every day against other currencies this week, resulting in an impressive weekly gain for the safe currency. Last week the franc was loser even as market participants were worried about Greece and the upcoming vote of confidence. The Prime Minister won the vote and behold: the concerns intensified and the franc rallied unstoppably. This twist can be explained by the future vote for the austerity measures that is even more … “Week of Worries â Week of Gains for Franc”
US Dollar Rises vs. Euro on Greece, Falls vs. Yen on GDP
The US dollar gained today against the euro as Greece’s problems still undermine the shared European currency. The greenback weakened against the Japanese yen as the US economic growth slowed in the first quarter of this year. The growth of the US gross domestic product slowed to 1.9 percent in the first quarter of 2011 from 3.1 percent in the fourth quarter of 2010. The US currency attempted to rally against the yen despite the unfavorable report, but wasn’t able … “US Dollar Rises vs. Euro on Greece, Falls vs. Yen on GDP”
UK Economic Outlook Causes Weakness of Pound
The Great Britain pound went lower today as the outlook for the UK economy suggests that the nation’s central bank will stick to accommodative policy. The Bank of England minutes suggested that the prospects for Britain’s economy stays dim and the bank will be forced to keep the borrowing costs low to stimulate economy. The pound dropped 7.3 percent versus the euro, making it the worst-performing among 10 currencies of major economic after the US and Canadian … “UK Economic Outlook Causes Weakness of Pound”
Best Retail FX Platform Goes to CitiFX Pro
The readers of the British magazine Profit & Loss have voted CitiFX Pro to be the best retail FX Platform. Over 10,000 readers voted. Apart from this vote, CitiFX Pro also won 5 other awards in the bank provider categories. This joins previous news from CitiFX Pro, regarding fast expansion plans for 2011. In the … “Best Retail FX Platform Goes to CitiFX Pro”