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Day: April 21, 2010
April 212010
Canadian Dollar Falls vs. Greenback, but Remains Near Parity
The Canadian dollar retreated against its U.S. counterpart after reaching its highest level since June 2008 today, but remains near the parity level, supported by the speculation that the Bank of Canada will increase the interest rates faster than the Federal Reserve. The analysts predict that the Bank of Canada will increase the benchmark overnight rate to 1.25 percent by the end of the year, while the U.S. Federal Reserve will increase its […]
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April 212010
Concern for Budget Deficit Undermines Euro’s Strength
The euro continues its decline on concern that the rescue package, provided to Greece by the European Union government and which is valued as much as 45 billion euro, won’t be enough to deal with the nation’s debt. The Greeceâs budget shortfall is 12.9 percent of gross domestic product, which is four times the EU limit. The cost of insuring against the default on Greece’s debt increased today. At present time it looks like […]
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April 212010
Decreasing Jobless Claims May Boost Pound
The Great Britain pound advanced today against the other major currencies and may continue its rise further as the report showed that the number of the jobless benefits claimed is dwindling. The number of the unemployment claims decreased in March by 10,000 from the previous month, when it fell by 32,300. The pound was bolstered by the government report that the inflation grows with greater than predicted pace. The higher than expected earnings of the Apple Inc. […]
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April 212010
Demand for Dollar as Safe Currency Declines
The U.S. dollar dropped today after the demand for the currency as the safe haven was diminished today by the rising equities, boosted by the higher than expected company earnings. The Apple Inc. reported that its quarterly profit almost doubled, causing its shares to jump as much as 8.3 percent. The increasing confidence prompts the investors to seek the higher-yielding currencies, forgoing the safe ones. This trend also affected the Japanese yen. GBP/USD traded at about […]
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April 212010
EUR/USD Drops on Global Fears
The dollar strengthened against the euro today during the early Forex session as the investors become more afraid of the financial risks with the situation around Greece and Goldman Sachs. The pair traded with a volatility after the fundamental news on the U.S. crude oil reserves was released but didn’t show any momentum. EUR/USD is now trading near 1.3399. Crude oil inventories gained 1.9 million barrels last week, while […]
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