The Canadian dollar rose against its U.S. counterpart by the end of this week, erasing the previous losses, after Jim Flaherty, the Canada’s Minister of Finance, said about the possible $8 billion capital inflow into Canada after it was designated by China as the country where the China’s financial institutions can make the investments. The previous decline was caused by the report about the unexpected slowdown of the annual inflation rate to 1.4 percent in March from … “Loonie at Highest Level vs. Greenback since June 2008”
Author: admin_mm
Pound Falls vs. Euro as Economy Expanded Less then Predicted
The Great Britain pound declined versus the euro after the report that the U.K. economy’s growth was lower by half compared to the pace of the expansion forecasted by the experts in the first three months of this year. The gross domestic product in the U.K. rose 0.2 percent in the first quarter of 2010, while the average estimate was 0.4 percent. The concern for the result of the forthcoming election and the threat of the possible budget shortage have negative impact on the sterling. The economists say … “Pound Falls vs. Euro as Economy Expanded Less then Predicted”
Signs of Economic Recovery in U.S. Support Dollar
The U.S. dollar rose today, leaving its Canadian counterpart below the parity level, after the government reported about the March increase in the sales of the new houses and the orders for the manufactured durable goods. The sales of the new single-family houses jumped 26.9 percent to 411,000 in March 2010 from the February rate of 324,000. New orders for the manufactured durable goods, excluding transportation, increased 2.8 percent in March. The reports signaled that the recovery of the U.S. economy … “Signs of Economic Recovery in U.S. Support Dollar”
Euro Rebounds vs. Dollar, but Is This for Long?
The euro rebounded against the U.S. dollar after Greece announced that it’s going to activate the rescue package, provided by the European Union and the International Monetary Fund, to deal with the nation’s budget shortage and pay its debts. The yield on the Greek 10-year bonds dropped 0.8 percentage point to 8.17 percent. The current situation with the Greece’s budget deficit tests the reliability of the euro as the reserve currency. And while at the present time the concern for the euro’s strength somewhat … “Euro Rebounds vs. Dollar, but Is This for Long?”
Will Brazilian Real Decline Even More?
The Brazilian real declined today and may drop 8 percent by the end of the year as the unnecessary excessive government spending increased the inflation. The government spending increased to 63 percent of gross domestic product in February from 59 percent in December 2008. The inflation is expected to reach 5.32 percent in 2010. The experts say that the Brazil’s economy looks sufficiently recovered and additional government stimulus isn’t really necessary. USD/BRL traded at 1.7650 as of 10:50 … “Will Brazilian Real Decline Even More?”
Britain Hardly Grows – Support Line at Risk
British GDP rose by 0.2% in the first quarter of 2010, half the early expectations. GBP/USD reacts with a drop around the support line. Economists expected a rise of 0.4% in Britain’s GDP, exactly as in Q4 of 2009. This is the first release of GDP for this period, and it may be revised. In … “Britain Hardly Grows – Support Line at Risk”
Loonie Resumed its Rise Against U.S. Dollar
The Canadian dollar resumed today the rise against its U.S. counterpart, after it dropped yesterday, on speculation that the central bank will increase the interest rates, signaling about the waning need for stimulus measures. The Bank of Canada reported that the economic growth will expand by 5.8 percent through the first quarter, while inflation will rise to 2 percent in the third quarter of 2010 and remain near that level until the end … “Loonie Resumed its Rise Against U.S. Dollar”
Fear of Budget Shortage Strangles Euro
The euro sank today to almost the lowest level in a year against the U.S. dollar as the possibility that Greece will be forced to activate the rescue package increased after the announcement that the Greece’s deficit the last year was higher than previously estimated. After the meeting of the European leaders with their Greek counterparts, which was held to discuss the proposed bailout, the report showed that the nation’s budget shortage was 13.6 percent … “Fear of Budget Shortage Strangles Euro”
Dollar Index Shooting Up
Many signs of recovery seen in the US send the dollar higher across the board. With a little help from Greece as well. A look at the big picture. After an alarming rise in unemployment claims last week, they dropped back down – from 480K to 456K, getting back in the zone. This breaks the … “Dollar Index Shooting Up”
Pound Rises vs. Euro with Increase of Mortgage Approvals
The Great Britain pound advanced against the euro today after the Bank of England reported about the higher than expected increase of the mortgage approvals in the previous month. The number of loans for the house purchases rose to 52,000 in the previous month, from 48,000 in February. The number of Britons willing to make a first time purchase of a property has dropped in the previous month to the lowest level in almost two decades, making the government to scrap the tax on the house purchases if … “Pound Rises vs. Euro with Increase of Mortgage Approvals”