Author: admin_mm

The Canadian dollar extended its gains today, reaching parity with the US dollar, after the reports showed that employment improved in Canada and the US last month, improving the outlook for the economic growth. The unemployment rate in Canada went down from 8.0 percent to 7.9 percent in October, while the employment remained almost unchanged. The US nonfarm payrolls increased by 151,000, compared to the median forecast of the 63,000 increase and the 41,000 decline in the previous month. … “Canada’s Dollar Jumps on Good Employment Reports”

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The US dollar jumped against the euro today, erasing yesterday’s losses, after the reports showed that the US employers added last month more jobs than predicted, while the retail sails in the Eurozone unexpectedly declined in September, increasing concerns for Europe’s economy. The retail sales in the Eurozone fell 0.2 percent in September, while the 0.3 percent increase was expected. The nonfarm payrolls increased by 151,000 in October, following the 41,000 decline in the previous … “Dollar Rises vs. Euro on US Nonfarm Payrolls & Europe’s Retail Sales”

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The South African rand fell today as the central bank bought the foreign currencies in order to battle the excessive appreciation, which may hurt the exports. The rand jumped 38 percent since the beginning of 2009 as the interest rates in the developed nations were falling, while in South Africa the rates remained high, attracting the investors. The government voiced concerns about the impact of the overvalued currency on the nation’s economy and tried to curb the gains, increasing the net gold and currency … “South Africa Intervenes to Weaken Overvalued Rand”

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The Canadian dollar today rose against its US counterpart as the stocks and crude oil climbed and fluctuated against the euro after the bid for Potash Corp. was rejected. The BHP Billiton Ltd. planned the hostile takeover of the Potash Corp. of Saskatchewan Inc., the largest fertilizer company in the world. The anticipation of the money, which would be brought into the Canadian economy, improved Canada’s economic outlook and bolstered the loonie, as Canada’s currency is nicknamed. The Canadian … “BHP Billiton Bid for Potash Corp. Rejected, Making Loonie Fluctuate”

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The euro surged today after the European Central Bank held the interest rates unchanged. The 16-nation shared European currency now declines versus the US dollar and the Japanese yen. The Governing Council of the ECB decided at today’s meeting that the interest rate will remain unchanged at 1.00 percent. Jean-Claude Trichet, the president of the European Central Bank, said in his statement: Overall, the current monetary policy stance remains accommodative. The stance, the provision of liquidity … “ECB Keeps Interest Rates Unchanged — Euro Rises”

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The New Zealand dollar gained today as the reports showed the better-than-expected employment figures, increasing the possibility that the central bank would raise the interest rates. The employment in New Zealand grew 1.0 percent in September, compared to the expected value of 0.5 percent. The employment went down to 6.4 percent, while it was expected to be 6.7 percent. The improving labor market increases the prospect for the central bank to perform the rates hike. NZD/USD jumped … “Improving Employment in New Zealand Bolster Kiwi”

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The Great Britain pound jumped today as the Bank of England refused to follow the Federal Reserve in the quantitative easing and kept its bonds-purchase program unchanged. The Bank of England stuck to its plan to spend £200 ($324 billion) on buying the government bonds. The bank also left the interest rates at 0.5 percent. The minutes of the Bank’s policy makers meeting will be published on November 17th. GBP/USD jumped from 1.6101 to 1.6260 as of 12:20 GMT today, … “BoE Keeps Rates & Bonds Buying Unchanged, Pound Climbs”

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