The Canadian dollar strengthened today, rising for the first time this week against the U.S. currency and for the first time in four days versus the euro, as the crude oil gained and the U.S. economic growth were slower than expected, increasing the demand for the safe haven. The Canadian currency went up as the equities gained and the crude oil futures rose by 2.8 percent. The U.S. economy grew by 2.7 percent in the first quarter of this year, less then … “Canadian Dollar as Safe Currency? It May Be Possible”
Author: admin_mm
Dollar Weakens vs. Pound & Yen on GDP Report
The U.S. dollar weakened today against the Great Britain pound and the Japanese yen as the economic growth in the first quarter of this year were lower than expected; the concerns about the European debt crisis allowed the U.S. currency to rise versus the euro before returning to the opening level. The U.S. gross domestic product rose by 2.7 percent in the first quarter of this year, compared to 5.6 percent in the fourth quarter of 2009. The median forecast of the analysts … “Dollar Weakens vs. Pound & Yen on GDP Report”
Euro Fall on Grim Outlook for Global Economic Growth
The euro fell today on the speculation that on the forthcoming meeting the Group of Twenty nations’ leaders would fail too achieve agreement on the way to deal with the European crisis. The experts think that the U.S. politicians prefer the stimulus measures, while the European leaders lean to the austerity measures. Considering the radically different approaches, many don’t believe that the politicians would find the agreement. The U.S.gross domestic product rose by 2.7 percent, lower than … “Euro Fall on Grim Outlook for Global Economic Growth”
Yuan Rises Before G-20 Meeting
The Chinese yuan rose today as China set the daily reference rate to the record high level, giving the currency the chance to appreciate before the Group of Twenty nation’s meeting tomorrow in order to stop criticism for the yuan’s dollar peg. The Peopleâs Bank of China stated on June 19 that it would end the yuan’s two-year peg to the dollar. The other G-20 leaders seem to remain wary, though, about the sincerity of this promise. The yuan is … “Yuan Rises Before G-20 Meeting”
Canadian Dollar Fall on Global Growth Outlook
The Canadian dollar weakened today, the fourth straight session of declines versus the U.S. currency, as the concern for the global economic recovery drove the stocks and the commodity prices down. The Federal Open Market Committee said yesterday in the statement: Housing starts remain at a depressed level. Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad. This statement shows that the macroeconomic indicators suggest the slower economic growth. … “Canadian Dollar Fall on Global Growth Outlook”
New Zealand Dollar Drops After Yesterday’s Surge
The New Zealand dollar weakened today on the speculation that it rallied yesterday too much and after the forecast about the slow economic grow proved true. The New Zealand dollar surged yesterday after the Federal Reserve kept the interest rates at the record low level. This news ignited the optimism for the kiwi (as the New Zealand currency commonly nicknamed) as the difference between the low rates in U.S. (between 0 and 0.25 percent) and the high interest … “New Zealand Dollar Drops After Yesterday’s Surge”
Japanese Yen Rises on Concerns for Economic Recovery
The Japanese yen extended its gains against the euro and the U.S. dollar today as the concerns that the economic recovery in the U.S. and Europe may slow fueled the demand for the safety. The Stoxx Europe 600 Index of European shares dropped 1 percent. The Federal Open Market Committee said in its statement: Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad. The pace of economic recovery is likely … “Japanese Yen Rises on Concerns for Economic Recovery”
Aussie Gains on Outlook for Mining Tax Revision
The Australian dollar rose today against its New Zealand counterpart as the speculation arose that the government will make changes to the planned mining tax after the Prime Minister Kevin Rudd resigned. Ruddâs popularity was shattered after he proposed the 40 percent tax for the mining companies from 2012. Julia Gillard, Rudd’s successor, said that she was âthrowing open the governmentâs doorâ to negotiate the mining tax with … “Aussie Gains on Outlook for Mining Tax Revision”
Dollar Falls as Fed Keeps Rates Low, Home Sales Slump
The U.S. dollar weakened today against the euro and the Japanese yen after the new home sales unexpectedly plunged ant the Federal Reserve kept the interest rates at the record low level. The housing market in the U.S. was showing signs of the weakness recently and today’s report about the new home sales wasn’t optimistic either. In fact, it showed really depressing slump from 446,000 in April to as low as 300,000 in May. That’s even more … “Dollar Falls as Fed Keeps Rates Low, Home Sales Slump”
Pound Goes Up on Outlook for Interest Rates Increase
The Great Britain pound rose today against the U.S. dollar and the euro on the speculation that the planned budget cuts wouldn’t damp the economic growth and after the Bank of England signaled that it might raise the interest rates. The speculations say that the emergency budget, devised by, the Chancellor of the Exchequer George Osborne, should preserve Britain’s top credit rating without strangling the economic growth. According to the minutes of the recent BOE meeting, the policy … “Pound Goes Up on Outlook for Interest Rates Increase”