The euro extended its decline today against the U.S. dollar and the Japanese yen, plunging below $1.20 for the first time since March 2006, as the signs that the European fiscal crisis is widening caused the investor to abandon the shared 16-nation currency. The prospect for the default in Hungary added to already vast list of evidences, which confirm the expansion of the crisis. The spokesman Peter Szijjarto said: The moment of truth has already arrived in Greece and it has … “Euro Below $1.20, No Signs of Relief for European Currency”
Author: admin_mm
European Woes Weaken Loonie
The Canadian dollar weakened today against the U.S. dollar and the Japanese yen despite the good economic data as the worries about the debt problems in Europe overshadowed the favorable fundamentals. The announcement of the government spokesman Peter Szijjarto fueled the concerns that the crisis is spreading to Eastern Europe. Szijjarto stated: Itâs clear that the economy is in a very grave situation. I donât think itâs an exaggeration at all to talk about a default. This statement had … “European Woes Weaken Loonie”
Lower Amount of New Jobs Pushes Dollar Down vs. Yen
The U.S. dollar weakened today against the Japanese yen, erasing its yesterday’s gains, after the nonfarm payrolls showed the lower number of new employees hired than was expected, causing the concern for the economic recovery. The nonfarm payroll employment grew by 431,000 in May, compared with the estimated increase of 521,000. The low number of the new jobs makes one question if the U.S. economy recovers with the expected pace or it’s going to lag … “Lower Amount of New Jobs Pushes Dollar Down vs. Yen”
Swiss Franc at Record High Against Euro on Stronger Economy
The Swiss franc gained today versus the euro, reaching the record high level, on the signs that the nation’s economy expanding, while the European Union’s economy suffers from the sovereign-debt crisis. The fundamentals and the EU woes push the franc up, despite the interventions of the Swiss National Bank. This may cause the SNB to refrain from another intervention and let the currency appreciate. At least the speculations say so, and this is another reason for the franc to rise. … “Swiss Franc at Record High Against Euro on Stronger Economy”
Strong Canadian Job Growth Leaves Loonie Unexcited
Canadian job figures surprised once again – 24,700 jobs were gained, 50% more than expected. The unemployment rate remained unchanged at 8.1%. No surprise here, but this is still great. The Canadian dollar wasn’t excited. The Canadian Department of Labour Force Survey showed that gains were mostly seen in the services industries, and included gains … “Strong Canadian Job Growth Leaves Loonie Unexcited”
European Debt Crisis Continues to Bury Euro
The euro weakened today as the debt crisis undermines the economy of the European Union, while the U.S. economy shows the signs of the accelerating recovery, lessening the impact of the European woes on the global markets. The good news emerged from the U.S. labor market as the initial unemployment claims decreased by 10,000 to 453,000 in the week ending May 29 from 463,000 the week before. The economic activity in the non-manufacturing sector, which make up almost 90 percent of the U.S. economy, … “European Debt Crisis Continues to Bury Euro”
NZ Dollar Rises in Spite of Bollard’s Desire for Depreciation
The New Zealand strengthened today as the favorable data from the U.S. added to the signs of the economic recovery, while the New Zealand’s trade surplus may prompt the central bank to increase the interest rates; against the U.S. dollar the kiwi experienced volatility and currently fell. The predictions that the U.S. employers offered more jobs last month together with the rising equities (Standard and Poorâs 500 Index rose by 0.5 percent) add to the evidences of the global … “NZ Dollar Rises in Spite of Bollard’s Desire for Depreciation”
Higher Tensions towards the Non-Farm Payrolls
The tension in the markets is rising towards the release of May’s Non-Farm Payrolls. The already high expectations were raised on new data that has emerged. Updated towards the big event. EUR/USD returned back to the range after making a dip earlier this week. Another move after today’s figures was also contained. The markets are … “Higher Tensions towards the Non-Farm Payrolls”
Global Recovery Makes Yen Less Attractive
The Japanese yen extended today its yesterday’s decline versus the U.S. dollar and the euro as the signs of the accelerating global recovery diminished the appeal of the Japanese currency as the safe haven. The forecasts about the improving situation on the U.S. labor market add to the signs of the widening economic recovery. In the same time, the speculations that the new Japan’s leader will encourage the depreciation of the yen make the currency less attractive to the investors. USD/JPY rose to about 92.69 as of 12:12 GMT … “Global Recovery Makes Yen Less Attractive”
House Prices & Equities Helped Pound to Rise
The Great Britain pound extended its advance against the U.S. dollar today as the growing house prices and the rising nation’s equities, which previously fell, signaled that the economic recovery accelerates. The average cost for a house rose by 0.5 percent the last month to the highest level in almost two years. It’s still early to say whether the recovery is sure, but it looks like the environment become somewhat more favorable to the risk. … “House Prices & Equities Helped Pound to Rise”