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Day: April 23, 2010
April 232010
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 […]
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April 232010
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 […]
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April 232010
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 […]
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April 232010
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 […]
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April 232010
EUR/USD Rises After Reaching New Low in a Year
EUR/USD continued its fall today during the early Forex trading session but then managed to go up above the opening level as Greece adopted a bail-out plan offered by the European Union. Fundamental reports were mixed today, with a huge surprise from the U.S. real estate market. The currency pair is now trading near 1.3308 after going down to as low as 1.3201 — the lowest level since April 2009. […]
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