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Day: April 22, 2010
April 222010
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 […]
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April 222010
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 […]
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April 222010
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 […]
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April 222010
Yen Advances Against Euro on Higher Risk Aversion Sentiment
The Japanese yen gained today as the demand for the Japanese currency as the safe haven increased, boosted by the speculation that the U.S. President will implement the new financial industry regulations. According to Barak Obama‘s spokesman the President will aim at ârisky decisionsâ taken on Wall Street. The White House press secretary Robert Gibbs said: “Financial reform is something that is born out of an economic collapse that started on Wall Street and spread […]
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April 222010
Euro Falls to April Low as Greek Budget Deficit Worsens
EUR/USD fell to it’s minimum level this month as the Greek budget deficit proved to be worse than expected while the fundamentals from U.S. supported the greenback. The currency pair is now trading near 1.3286 after hitting a daily bottom at 1.3276 today — the lowest level since March 26. PPI rose faster than expected in United States, gaining 0.7% in March compared to 0.5% forecast. The gain followed a drop […]
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