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Day: May 6, 2010
May 62010
Swiss Franc at Record High Level Against Euro
The Swiss franc performed the huge leap against the euro today and rose against the U.S. dollar on the speculation that the Swiss National Bank will stop to contain the currency’s appreciation. In the previous month the currency was falling against the greenback and remained at approximately the same level against the euro. The SNB tried to prevent the appreciation of the frank in an attempt to contain deflation and to help the recovery of the nation’s economy. But now the economists start talking about the possible relaxation […]
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May 62010
Polish Zloty Drops to Lowest Level Since July 2009
The Polish zloty dropped today against the U.S. dollar to the lowest level since July 2009 on the speculation the fiscal crisis in the European Union may lead to slower global economic recovery, eroding appeal of the developing nation’s currencies. Some analysts are unsure why the only economy in the EU, which avoided the recession, drawing the interest of the foreign investors, should be so heavily hit by the European troubles. Yet other investors claim that […]
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May 62010
NZ Dollar Rise with Improving Jobless Rate
The New Zealand dollar strengthened today after the jobless rate improved and Alan Bollard, governor of the Reserve Bank of New Zealand, suggested that the central bank may increase the interest rates as the economy become “less fragile”. New Zealandâs jobless rate fell to 6 percent in the first quarter, compared to 7.1 percent in the previous three months, the lowest level since 1986. Bollard declared that: Financial markets currently expect the Reserve […]
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May 62010
Nonfarm Business Supports Greenback vs. Euro
EUR/USD extended its slump today for the fourth consecutive day. The report nonfarm business sector labor productivity increased, just at slower pace, supported the U.S. currency, while the euro was hurt by the news that the protests in Greece caused fatal incident. On the other hand, the increasing number of the jobless claims makes us wonder if the U.S. economy can continue its growth in the long term. EUR/USD trades currently at 1.2736 Initial […]
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May 62010
Does Parity Between Loonie and Greenback Remain in Past?
The Canadian dollar continues to weaken against its U.S. counterpart as the turmoil in Greece increased the global demand for the safety and pushed down the appeal of the currencies tied to growth for investors. The loonie, as the Canadian currency nicknamed for the image of the aquatic bird on the C$1 coin, tends to follow the moves of the commodity prices and the stocks. The Standard & Poorâs 500 Index dropped 0.6 percent, while previously it fell 1.3 percent. June delivery for crude oil, the biggest […]
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