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Day: June 1, 2010
June 12010
Canadian Dollar Drops After Central Bank’s Announcement
The Canadian dollar fell today on the uncertainty about the future increases of the interest rates as the central bank suggested that it’ll be cautious to increase the rates after it raised the target rate today. The Bank of Canada raised its target rate for the overnight loans between the banks from the record low level of 0.25 percent to 0.50 percent. Canada is the first nation from the Group of Seven to perform such move since the global […]
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June 12010
Germany’s President Resigns, Euro Plunges
The euro went down today after Germany’s president unexpectedly resigned and on the concerns that the measures taken to contain the debt crisis may hurt the European economy. Horst Koehler announced yesterday the decision to leave his post as the President of Germany, making it harder for the Chancellor Angela Merkel to fight with the EU troubles. The unemployment rate in the Eurozone rose from 10 percent in March to 10.1 percent in April, the highest rate since June […]
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June 12010
Australian Dollar Goes Down as Interest Rates Left Unchanged
The Australian dollar was weakened by the central bank’s decision to leave the interest rates unchanged and after yet another unfavorable news have come from Europe. The concerns about the European economy renewed, having its impact on the global markets, after Germany’s president unexpectedly resigned. The ensuing uncertainty made the policy makers of the Reserve Bank of Australia less willing to make any significant moves, like the changes of the interest rates. China’s manufacturing […]
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June 12010
Swiss Franc Falls with Slower Economic Growth
The Swiss franc fell against the U.S. dollar today as the decrease of the investment and the government spending caused the deceleration of the economic growth. The Swiss gross domestic product grew 0.4 percent in the first quarter of this year, compared with the growth of 0.9 percent in the fourth quarter of the last year. Nevertheless, the Swiss economy steadily recovers from the economic recession, boosted by the exports. USD/CHF traded near 1.1673 as of 11:27 GMT today, rising from the opening […]
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June 12010
Automated Trading Championship 2010 Registration Starts
MetaQuotes has announced the official start of the registration for the Automated Trading Championship 2010 today. It will last for more than three months (until September 22nd) and is open to everyone. The official rules of this Forex tournament have been released too. Like for the last contest (year 2008; 2009 championship wasn’t held) the total prize fund is $80,000 with $40,000 for the 1st place, $25,000 for the 2nd place and $15,000 […]
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June 12010
Germany’s President Resignation Drives EUR/USD Down
EUR/USD currency pair is heading down today after Germany’s president unexpectedly resigned, giving another reason for doubts about strength of the European economy and weakening the euro. On the other hand, the problems with the oil spill in the Gulf of Mexico are weighting on the U.S. economy still, which may show its influence on the U.S. currency in the future. EUR/USD trades currently near 1.2249. ISM PMI indicator (manufacturing sector survey) registered […]
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