Gold to Go, the manufacturer of gold ATMs, is working hard to meet the demand for its vending machines. From a gimmick of two machines operating now, their business will grow to 50 quite soon. This is the result of the rising prices in gold. Is this is a sign for the Euro? For the … “Gold ATMs Going Global – A Sign for Currencies?”
Author: admin_mm
Brazilian Real Bolstered by Favorable U.S. Economic Data
The Brazilian real rose today as the favorable economic data from the U.S. caused the speculations that the Europe’s problems won’t be affecting the nation’s economy that much. The pending home sales have risen for the three consecutive months, reaching the highest level since last October and reflecting the broad impact of the home buyer tax credit and the favorable housing affordability conditions. The Pending Home Sales Index rose 6.0 percent in April, following … “Brazilian Real Bolstered by Favorable U.S. Economic Data”
Loonie Boosted by Employment Outlook, Oil & Stocks Prices
The Canadian dollar gained today against its U.S. counterpart and the euro, paring its yesterday’s losses, on the outlook for the rising employment and the increasing prices of the equities and crude oil. Canadian employers added 108,700 jobs in April; the report for the previous month will be released on Friday this week. The Standard & Poorâs 500 Index rose 0.3 percent. Futures for crude oil went up as much as 0.5 percent. The analysts expect that … “Loonie Boosted by Employment Outlook, Oil & Stocks Prices”
Kiwi Drops vs. Aussie on Lower Interest Rates
The New Zealand dollar dropped today against its Australian counterpart on the concerns that the Aussie will be more attractive to the investors, interested in carry trade, because of the higher interest rates in Australia. John Key, the Prime Minister of New Zealand, said: The carry trade is there although one could make the case it is less attractive at the moment than Australia where interest rates are a full 2 percentage … “Kiwi Drops vs. Aussie on Lower Interest Rates”
Yen Dropped as New Prime Minister May Encourage Depreciation
The Japanese yen tumbled today to the lowest level in two weeks on the speculation that Naoto Kan, who is currently the Finance Minister, will succeed the present Prime Minister Yukio Hatoyama. Hatoyama resigned because of the growing public criticism, which increased on Hatoyama’ handling of U.S. troop deployments in Okinawa. The traders expect the further decline of the yen as Kan expressed opinion that the weaker currency is better for the business. USD/JPY traded near … “Yen Dropped as New Prime Minister May Encourage Depreciation”
Aussie Still Suffering from European Problems
The Australian dollar is edging lower, after major fundamental news came out as expected. It’s now hovering over an important support line. Will it continue suffering from global fear? Australian GDP grew by 0.5% in the first quarter of 2010. This was slightly short of the 0.6% growth rate that was expected. Looking beyond the … “Aussie Still Suffering from European Problems”
Canadian Dollar Drops After Central Bank’s Announcement
The Canadian dollar fell today on the uncertainty about the future increases of the interest rates as the central bank suggested that it’ll be cautious to increase the rates after it raised the target rate today. The Bank of Canada raised its target rate for the overnight loans between the banks from the record low level of 0.25 percent to 0.50 percent. Canada is the first nation from the Group of Seven to perform such move since the global … “Canadian Dollar Drops After Central Bank’s Announcement”
Germany’s President Resigns, Euro Plunges
The euro went down today after Germany’s president unexpectedly resigned and on the concerns that the measures taken to contain the debt crisis may hurt the European economy. Horst Koehler announced yesterday the decision to leave his post as the President of Germany, making it harder for the Chancellor Angela Merkel to fight with the EU troubles. The unemployment rate in the Eurozone rose from 10 percent in March to 10.1 percent in April, the highest rate since June … “Germany’s President Resigns, Euro Plunges”
Australian Dollar Goes Down as Interest Rates Left Unchanged
The Australian dollar was weakened by the central bank’s decision to leave the interest rates unchanged and after yet another unfavorable news have come from Europe. The concerns about the European economy renewed, having its impact on the global markets, after Germany’s president unexpectedly resigned. The ensuing uncertainty made the policy makers of the Reserve Bank of Australia less willing to make any significant moves, like the changes of the interest rates. China’s manufacturing … “Australian Dollar Goes Down as Interest Rates Left Unchanged”
Swiss Franc Falls with Slower Economic Growth
The Swiss franc fell against the U.S. dollar today as the decrease of the investment and the government spending caused the deceleration of the economic growth. The Swiss gross domestic product grew 0.4 percent in the first quarter of this year, compared with the growth of 0.9 percent in the fourth quarter of the last year. Nevertheless, the Swiss economy steadily recovers from the economic recession, boosted by the exports. USD/CHF traded near 1.1673 as of 11:27 GMT today, rising from the opening … “Swiss Franc Falls with Slower Economic Growth”