The Australian dollar rose against the euro and fluctuated versus the Japanese yen on the speculation that the global economic recovery gains momentum, attracting the investors to the higher-yielding currencies; the moves against the U.S. dollar currently ended with losses for the Aussie. Australiaâs S&P/ASX 200 Index gained 0.9 percent and the MSCI Asia Pacific Index of regional shares advanced 0.9 percent. The Reuters/Jefferies CRB Index of raw materials went up 0.5 percent yesterday. … “Economic Growth Outlook Boosts Aussie vs. Euro”
Author: admin_mm
Canadian Dollar Rises on Good Employment Data
The Canadian dollar gained for the fourth straight day against its U.S. counterpart and strengthened versus the euro today after the labor market posted the very positive set of results. The employers added 93,000 jobs in June, the astonishing number, which is about 5 times higher then the expected increase by just 17,900 jobs. The unemployment rate dropped to 7.9 percent from 8.1 percent in May, falling below 8 percent threshold … “Canadian Dollar Rises on Good Employment Data”
Rand Strengthens as Global Recovery Gains Momentum
The South African rand extended its gains against the U.S. dollar for the fourth consecutive day as the speculation that the global economic recovery is gaining momentum encourages the investors to purchase the higher-yielding assets. The International Monetary Fund forecast that the global economy would grow by 4.6 percent in 2010, the biggest increase since 2007. The investors bet on the increase of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded … “Rand Strengthens as Global Recovery Gains Momentum”
USD/CAD Drops on Excellent Canadian Job Figures
Canadian unemployment rate fell to 7.9% and 93,200 jobs were gained. This huge surprise sends USD/CAD way down below the support line. Early expectations saw the unemployment rate unchanged at 8.1%, as it didn’t change last month. Not only did it fall, but it dropped below the round number of 8%. And similar to the … “USD/CAD Drops on Excellent Canadian Job Figures”
South Korean Won Rises with Interest Rates
The South Korean won rose today after the central bank increased the interest rates for the first time since the beginning of the global economic recession. The Bank of Korea increased the seven-day repurchase rate to 2.25 percent from the record low level of 2 percent. The International Monetary Fund stated three days ago that South Korea’s monetary policy is “somewhat beyond what is necessary to support the recovery” and the nation needs to gradually … “South Korean Won Rises with Interest Rates”
GBP/USD Stuck in a Range – Will it Fall?
GBP/USD is trading in an almost perfect range in the past week. The longer the range – the stronger the explosion, but in which direction? Here are some reasons for it to go down. Last Friday, GBP/USD enjoyed the weak Non-Farm Payrolls in the US to rise to new levels. Since then, it has traded … “GBP/USD Stuck in a Range – Will it Fall?”
Gains & Losses of U.S. Dollar Today
The U.S. dollar strengthened against the Great Britain pound and the Japanese yen, in the same time the greenback weakened versus the euro, as the macroeconomic indicators posted the mixed set of results today. The unemployment claims pleasantly surprised the market participants, declining to 454,000 in the previous week, compared to the median forecast of 461,000. The consumer credit contracted by $9.1 billion, compared to the expected value of $1.9 billion. The labor market showed signs of improvement, yet the improvement expected to be … “Gains & Losses of U.S. Dollar Today”
Euro Rises on Growth Outlook
The euro rose today to $1.27 for the first time since May 12th and gained versus the Japanese yen after the International Monetary Fund and the ECB President Jean-Claude Trichet said that the global economic growth accelerates. The shared 16-nation European currency also strengthened on the speculation that the planned stress tests for the European banks might assume the loss of 17 percent on the Greek bonds, less then expected by some investors. According to the IMF forecast, … “Euro Rises on Growth Outlook”
EUR/USD Out of Air?
EUR/USD continued pushing forward and touched 1.27. At this point, it seems that the heights aren’t easy for the pair, that still carries debt issues and gloomy forecasts. Update on this pair. Euro/Dollar continued the trend that began with the weak Non-Farm Payrolls on Friday and gradually edged up during the week – from the … “EUR/USD Out of Air?”
Great Britain Pound Falls on Concerns About Budget Cuts
The Great Britain pound fell today against the U.S. dollar and some other major currencies as the macroeconomic indicators spurred the concern that the budget cuts would hurt the Britain’s economy. According to the Halifax Home Price Index, the house prices fell by 0.6% in June following a similar decline in May, while the economists expected the prices to rise by the same value. The analysts think that the previous gains of the sterling have raised the currency too high, … “Great Britain Pound Falls on Concerns About Budget Cuts”