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Day: November 27, 2007
November 272007
Canadian Continues to Fall
Canadian dollar depreciated to its monthly lows today after global commodities prices went down. The OPEC warned that they might increase the oil output to counter the possible economical slowdown on oil-importing countries. That message caused a decline in oil prices. Canada is one of the world’s largest oil exporters which is not in OPEC. Decreasing oil prices make Canadian currency less attractive to foreign buyers. USD/CAD […]
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November 272007
Consumer Confidence Lowest Since 2005
In November Consumer Confidence Index, surveyed by the Conference Board Inc., fell by 8.3 points to its lowest value since 2005. It decreased from 95.6 in October to 87.3 this month. Consumer confidence is the important measure of the consumers’ readiness to spend money and take credits. When this index falls so sharply, it usually means that U.S. economy is experiencing a slowdown or even a recession. Contrary to the declining confidence […]
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November 272007
Indian Rupee Continues Decline
Indian rupee continued its decline against U.S. dollar started more than a 10 days ago. Fueled by the demand for foreign oil, dollar buying weakens rupee as the interbank Forex traders massively sell rupees. Rupee is falling since November 14, when the carry trade slump started to affect Indian economy. With higher global volatility investors decreased their appetites for the risky Indian equities and thus the Indian […]
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