The U.S. dollar weakened today on the signs that the economic recovery in the U.S. might slow and as the European fiscal system showed the signs of recovery, damping the appeal of the U.S. currency as the safe haven. The initial jobless claims unexpectedly increased to 472,000 from 459,000, while the forecasts promised the decline to 454k. The manufacturing sector continued to grow during June; however, the rate of growth as indicated by the ISM PMI, which dropped to 56.2% in June from 59.7% in the month … “Dollar Goes Down on Signs of Faltering Recovery”
Author: admin_mm
Canadian Dollar Declines as Economic Growth Halts
The Canadian dollar fell today to the lowest level since July 7th against the U.S. currency and to the lowest level in more than a month versus the euro after the report showed that Canada’s economic growth halted in April and the U.S. employers added fewer jobs than was expected. Canada’ gross domestic product was unchanged in April after seven consecutive monthly increases, while the analysts predicted 0.2 percent growth. The U.S. … “Canadian Dollar Declines as Economic Growth Halts”
Chilean Peso Falls on Low Economic Activity
The Chilean peso weakened today against the euro as the industrial output and sales rose less than forecast and the mining production fell. Industrial sales grew 0.5 percent compared to the previous year, while the median forecast was 3.1 percent. Industrial output rose 4.2 percent, compared to the predicted 4.7 percent. The less-then-expected economic activity together with the concern for the global economy dragged down the peso. EUR/CLP traded near 671.5200 as of 9:13 … “Chilean Peso Falls on Low Economic Activity”
Forex in Banks – Essential for Bringing Forex to the
Having the ability to trade currencies using regular banks will be a big step forward in bringing forex trading to the masses. This is the second article in a series of articles about forex coming to the mainstream. Previous article: Forex Education – The First Step to Make Forex More Mainstream. Most people make investments … “Forex in Banks – Essential for Bringing Forex to the”
Pound Weakens on Fears of Double-Dip Recession
The Great Pound weakened today after the central bank’s policy makers suggested that the budget spending cuts might throw the Britain’s economy back into recession. The GfK NOP index of the consumer sentiment dropped to -19 this month from -18 last month. This drop added to the general opinion that the fundamentals in the U.K. remain weak. The concern among the economist is that the pound’s gains may actually lead to the double-dip … “Pound Weakens on Fears of Double-Dip Recession”
Euro Rises on Optimism for European Fiscal System
The euro strengthened today after the European Central Bank announced that it would lend the European banks less than was expected, fueling optimism for Europe’s fiscal system. Previously the euro dropped on the worries that the banks would require more loans, signaling that the weak European banking system wouldn’t survive without support. The ECB said, though, that it’d loan 131.9 billion euro to the banks, that’s more … “Euro Rises on Optimism for European Fiscal System”
Thai Baht Rises, but Remains Under Pressure
The Thai baht rose today after it previously fell as the political turmoil drove away the investors and prompted them to take away the fund from the nation’s equities. The foreign investors took away $1.88 billion from the nationâs stocks since March, following the $1.31 billion net purchases in the first three months of 2010. The analysts say that the baht would remain under pressure as the stocks falls and the concerns for China’s growth increase … “Thai Baht Rises, but Remains Under Pressure”
Korean Won Weakens as Economic Recovery Slows
The South Korean won slid today after the U.S. consumer sentiment slumped more than forecast, fueling doubts about the strength of the global economic recovery. The MSCI Asia-Pacific Index of regional shares declined for a second day and the Standard & Poorâs 500 Index of the U.S. shares dropped to the lowest level in eight months. Most market participants expect that the forthcoming reports would show the slowdown of the U.S. and China’s economies. USD/KRW traded … “Korean Won Weakens as Economic Recovery Slows”
Education – The First Step to Make Forex More Mainstream
Currency trading is growing rapidly worldwide, yet it’s still far from the mainstream. Education has a primary role in making a change. This is the first article in a series of articles about forex coming into the mainstream. Many newcomers to forex trading don’t know what they’re doing. This is no secret. This lack of … “Education – The First Step to Make Forex More Mainstream”
Fundamental Overview – Market Movers This Week – 6/28/2010
Although the U.S. Dollar was more or less neutral versus the Euro on the week, the British Pound Sterling was up 1.6% as the market reacted favorably to the new Conservative/Lib Dem government’s Emergency Budget. The Greenback sold off even further last week against the Aussie, Kiwi and Yen in the wake of an important … “Fundamental Overview – Market Movers This Week – 6/28/2010”