Author: admin_mm

The Indian rupee dropped to the lowest level in almost seven weeks against the US dollar today after the reports showed that the industrial production grew with the slower pace, causing the concern that the foreign capital inflows would dwindle. Industrial output grew 4.4 percent in September from a year ago, the smallest gain since May 2009, while the median forecast was the 6.4 percent increase. The analysts say that the impact … “Slower Industrial Output Weakens Indian Rupee”

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The New Zealand dollar fell today as the Asian stocks dropped and the concerns about another debt crisis in Europe decreased the attractiveness of the higher-yielding currencies. The New Zealand dollar also weakened on the speculation that the report will show the US retail sales increased, reducing the flow of the funds to the other markets. The currency jumped, reducing its losses, after the report showed that the retail sales in New Zealand itself grew 0.8 percent in September. … “Kiwi is Influenced by US & New Zealand Retail Sales”

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This weak was marked by return of the concerns about Europe’s sovereign-debt crisis and the weakness of the euro. The currency rose on Friday slightly, but overall this was a bad week for the euro. With the quantitative easing happened in the US the attention of the traders returned to Europe. And it turned out that the economical situation there hasn’t improved much. Still the so-called peripheral economies remain burdened by the debt, still talks about Ireland’s bailout persist, … “Week of Weakness for Euro, Volatile Swings on Friday”

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The Chinese yuan strengthened on the speculation that the central bank may increase the interest rates in order to slow the rapidly growing inflation, which may create an asset bubble. The rapid growth of the Chinese economy attracted investors, boosting the consumer prices to 4.4 percent in October from a year ago. The accelerating inflation troubles the Chinese officials, who may prefer the stronger currency to the risk of the asset bubble. The policy makers are taking steps to curb … “Chinese Yuan Rises on Outlook for Further Interest Rates Hike”

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The euro jumped today on the speculation that the European Union would support its most indebted nations. The euro resumed its decline later as the traders weren’t convinced. The speculations suggested that Ireland’s government discussed with the EU leaders the possibility of the bailout for Ireland. The EU officials dismissed such suggestions as mere rumors. The traders weren’t much convinced by the attempts of the EU leaders to improve confidence in the European economy, therefore the euro’s gains were … “Euro Posts Gains, but Trend Remains Bearish”

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The Canadian dollar extended its losses against its US counterpart today as the stocks fell, decreasing the risk appetite and damping demand for the growth-related assets. The Standard & Poor’s 500 Index slipped 0.4 percent and the S&P/TSX Composite Index went down 0.1 percent. Futures on crude oil, Canada’s key export, traded at $87.75 per barrel, following the advance to the highest level in two years of $88.63. USD/CAD advanced from 1.0030 … “Falling Stocks Lead to Decline of Canada’s Dollar”

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The Great Britain pound dropped today after the report showed that the UK consumer confidence slipped, showing the concerns of Britons about the planned spending cuts. The Nationwide Consumer Confidence fell from 53 to 52 in October, while it was expected to rise to 55. The report said that “the decrease in sentiment during October was led by continued pessimism towards the future situation”. GBP/USD dropped from 1.6121 to 1.6030 as of 10:12 GMT … “Pound Drops as Britain’s Consumer Confidence Slips”

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