The Russian slid today as Russia’s central bank kept its main interest rates unchanged and crude oil, the main nation’s export, traded near the lowest level in six months. Bank Rossii left its key refinancing rate at the same level today. The bank said in the statement: The decision was supported by the assessment of inflation risks and risks of economic growth slowdown, including those associated with the global economic uncertainty. The statement mentioned … “Ruble Decline After Bank Rossii Keeps Rates Unchanged”
Month: February 2012
Services PMI Eases Concerns About UK Economy, Pound Gains
The Great Britain pound gained today after a report showed that UK service industries advanced last month, easing concerns about recession of Britain’s economy and making the sterling again viable haven from Europe’s crisis. The Markit/CIPS UK Services PMI rose from 54.0 to 56.0 in January from December. Service sectors demonstrated the strongest growth since March 2011. Business confidence and outlook also improved. The positive data … “Services PMI Eases Concerns About UK Economy, Pound Gains”
USD/CAD: Trading the Canadian Jobs Feb 2012
The Canadian employment change is an important leading indicator which has a significant impact on the markets. Traders and analysts carefully scrutinize employment figures, and a reading higher than forecast could is bullish for the loonie. Here are the details and 5 possible outcomes for USD/CAD. Published on Friday at 12:00 GMT. Indicator Background Job creation is one of … “USD/CAD: Trading the Canadian Jobs Feb 2012”
USD Gains vs. EUR & GBP on Positive Outlook for US Economy, Retreats
The US dollar rose yesterday against the euro and the Great Britain pound on positive macroeconomic data from the United State and comments of Federal Reserve Chairman Ben Bernanke, but was somewhat weaker today. The currency was flat versus the Japanese yen today, as well as yesterday. US jobless claims fell from 379,000 to 367,000 jobs last week, more than experts predicted. The positive data eased concerns caused by the worse-than-expected … “USD Gains vs. EUR & GBP on Positive Outlook for US Economy, Retreats”
Franc Flat as Trade Balance Decreases Even as Export Grows
The Swiss franc was flat today as Swiss exports advanced, easing concerns about a new intervention by the Swiss National Bank, but trade balance surplus decreased anyway. The Swiss Federal Statistical Office reported that nation’s exports advanced by 6.1 percent in December from a month ago, following the drop by 4.8 percent in November. The growth of exports decreased concerns about a negative impact of the strong franc on Swiss exporters and reduced probability … “Franc Flat as Trade Balance Decreases Even as Export Grows”
Government Set To Weigh on Job Growth – Non-Farm
US Non-Farm Payrolls are expected to rise nicely in January, following the consistent trend of recent months. Nevertheless, there are quite a few reasons for worries, mostly coming from Washington. The US dollar has been under pressure since Bernanke’s recent softness. There is little chance that this trend will change. NFP Preview. The US gained … “Government Set To Weigh on Job Growth – Non-Farm”
Canadian Dollar Edges Higher even with Uncertainty
Canadian dollar is edging higher on market uncertainty today, gaining a bit even as risk aversion creeps into currency trading. Loonie does remain near parity with the greenback, though. Gains have been limited by some of the uncertainty experienced by the financial markets. In the United States, jobless data has shown that unemployment claims have dropped. Additionally, in Europe, leaders are insisting that progress is being made … “Canadian Dollar Edges Higher even with Uncertainty”
Euro Heads Lower after Recent Rally
Euro has been showing strength against the US dollar recently, but uncertainty is creeping into the markets. As a result, risk aversion is making an appearance, and the euro is heading lower against the US dollar, as well as heading lower against the Japanese yen and even the Great Britain pound. This lower euro comes amidst protests by German Chancellor Angela Merkel that the eurozone is on its way to recover. In visit … “Euro Heads Lower after Recent Rally”
Spain Already Completed Around 25% of 2012 Bond Isuance
The euro-zone’s fourth largest economy, Spain, continues distancing itself from the crisis. Yet another bond auction saw lower yields with a full coverage. As of the beginning of February, Spain has managed to cover nearly 25% of all funding needs. There are 3 reasons for that. Bonds for 2015, 2016 and 2017 all got lower yields than … “Spain Already Completed Around 25% of 2012 Bond Isuance”
Pound Down as Construction in Britain Slows
The Great Britain pound erased its gains versus the US dollar and fell against the Japanese yen today after the report showed that UK construction growth slowed last month. The Markit/CIPS UK Construction PMI was down from 53.2 in December to 51.4 in January. The expected value was 52.8. The report followed yesterday’s unfavorable data about UK housing market: the Nationwide HPI dropped 0.2 percent last month. … “Pound Down as Construction in Britain Slows”