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Day: May 14, 2010
May 142010
Dollar Extends Gains vs. Euro Supported by Economic Recovery
The U.S. extended its gains against the euro for the fifth consecutive day after the reports showed that the retail sales and the consumer confidence in the U.S. increased while the debt troubles in the European Union cause concern about the future of the common European currency. The retail sales in the U.S. increased by 0.4 percent, more than expected, following the March growth of 2.1 percent. According to the estimates of the University of Michigan the consumer sentiment also improved. The reports show […]
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May 142010
EU Rescue Plans Undermine Oil — Canadian Dollar Sinks
The Canadian dollar fell today to the weekly low against its U.S. counterpart, erasing its gains this week, as the concerns about the debt crisis in the European countries erode the demand for the raw materials, including oil. June delivery for crude oil tumbled as much as 2.3 percent to $72.72 per barrel on NYMEX. Crude oil is the key export of the nation. The European troubles are resounding throughout the global markets, negatively affecting the trade. […]
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May 142010
Central Bank May Prevent Swiss Franc’s Appreciation
The Swiss franc dropped against the U.S. dollar for the fifth consecutive day and fell versus the euro after the four days of the appreciation on the speculation that the central bank will intervene to prevent the currency from advancing further. The franc reached the record high level yesterday as EUR/CHF traded at 1.4071. The Swiss National Bank has begun selling the currency in 2009 in order to aid the economy and contain the deflation. The bank may continue this policy, but […]
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May 142010
European Woes Bring Down New Zealand Dollar
The New Zealand dollar dropped today as the retail sales were lower than the analysts predicted and on the concern that the European debt crisis will dump the demand for the riskier currencies. New Zealand retail sales rose 0.5 percent compared to the month earlier, while the experts expected the 1.1 percent increase. The uncertainty about the European economy and the impact of its troubles on the global markets makes the traders nervous and the consumers less willing to spend their […]
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May 142010
EUR/USD Drops Below 1.25 Sparking Talks About Euro’s Collapse
EUR/USD fell today below 1.2500 prompting speculation about future parity between the dollar and the euro. The future of the common European currency looks really grim amid concerns that Greece won’t be able to repay its debts and rumors that France threatened to leave the euro. At the same time, reports showed increasing confidence and willingness to spend their money amongst U.S. consumers. EUR/USD is trading near 1.2448 now. […]
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