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Day: June 11, 2010
June 112010
Canadian Dollar’s Rally Falters on Low U.S. Retail Sales
The Canadian dollar halted its four-day rally today after the report that the retail sales in the U.S. fell unexpectedly caused concern about the global economy and weakened the currencies tied to growth. The retail sales in the U.S. rose 0.6 percent in April and were expected to increase further by 0.2 percent in May. Therefore, the traders were completely unprepared for the 1.2 percent decline in May. The impact of this data is resounding throughout the markets and affecting […]
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June 112010
Declining U.S. Retail Sales Boosted U.S. Currency
The U.S. dollar rose against other major currencies today after the report showed the decrease of the retail sales, causing the doubt whether the global economic recovery would keep its pace. The U.S. retail sales provided an unpleasant surprise by declining 1.2% in May, while they were expected to increase by 0.2%. While these news might hurt the U.S. currency, the greenback managed to appreciate. The experts say that the currency actually benefited […]
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June 112010
Pound Weakens as Manufacturing Declines
The Great Britain pound weakened today after the set of unfavorable reports was released, causing concern that the budget cuts, planned in order to fight the budget deficit, would have negative impact on Britain’s struggling economy. Total production output decreased by 0.4 percent between March and April. Month on month the output prices measure for all manufactured products rose 0.3 percent in May, compared to the predicted increase of 0.6 percent and the 1.6 […]
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June 112010
Concern for Global Recovery Goes Away, Helping Euro
The euro extended its rally today as the concerns that the troubles in Europe would slow the global economic recovery eased and the risk sentiment among the investors improved. The economic growth in the U.S. and Asia weakens the impact of the European crisis on the global growth. The MSCI World Index of global stocks gained 0.3 percent, the fourth consecutive increase. Jean-Claude Trichet, the president of the European Central Bank, said yesterday that the bank would continue to buy the government […]
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June 112010
EUR/USD Rose, Fell and Now Returned to Where It Started
The euro suffers volatility today after three days of gains against the U.S. dollar as it initially rose, then experienced a sharp decline and now resides near the opening level. Today’s data from the U.S. should cause mixed feeling among traders as retail sales unexpectedly and sharply declined, yet consumer confidence expected to improve. EUR/USD trades currently near U.S. retail sales provided an unpleasant surprise by declining 1.2% […]
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