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Day: May 25, 2010
May 252010
Spain and Korea Bring Anxiety on Markets, Aussie Suffers
The Australian dollar extended the decline against its U.S. counterpart and dropped against the euro as the banking crisis in Spain and the conflict between North and South Korea destabilize the markets. The regulators in Spain, supported by the request of the International Monetary Fund to reform the nation’s financial institutions, press the lenders to unite with larger partners, causing four banks announce about merging. The U.S. plans to perform anti-submarine exercises with South Korea. After the announcement of such […]
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May 252010
European Woes Lead to Loonie’s Weakness
The Canadian dollar declined today after the equities and the commodities, including crude oil, fell on the concerns for the European banking system, making the investors less willing to risk and weakening the currencies tied to growth. The MSCI World Index of stocks fell 1.5 percent. Crude oil futures lost 3.1 percent to $68.06 per barrel on the New York Mercantile Exchange. Crude oil is the biggest export of Canada. The yield on the 10-year security dropped 8 […]
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May 252010
NZ Dollar Down on Risk Aversion Sentiment
The New Zealand dollar dropped versus its U.S. counterpart today to the lowest level since July 2009 as the European troubles and the concerns about the possible escalation of the conflict between North and South Korea increased the risk aversion sentiment and caused the investors to turn away from the higher-yielding currencies. Some good news for the currency appeared too. Fonterra, the world’s largest exporter of dairy products, is expected to pay the farmers for milksolids NZ$6.60 ($4.40) […]
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May 252010
EUR/USD Declines on Signs of Growing Consumer Confidence in U.S.
EUR/USD declined today amid signs of economic growth in U.S. and concerns for European economic stability. The central bank in Spain took over the savings bank CajaSur, that was heavily harmed by the property-loan defaults, causing concern about resilence of European banking system. At the same time, reports from U.S. showed that consumer confidence increased and conditions on house market improved, adding to signs of U.S. economic recovery. EUR/USD trades near […]
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May 252010
Rand Weakened by European Troubles & Workers’ Strike
The South African rand tumbled today against the U.S. dollar, erasing its previous gains, as the concerns about sovereign-debt crisis in the European Union made metal prices decline and after the two-week wedge strike. The state-owned rail and ports operator said that the container backlog will be cleared in the South Africa’s ports as many employees returned to work, yet the Workersâ Union announced it issued secondary strike notices. Today’s report […]
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