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Day: June 17, 2010
June 172010
U.K. Retail Sales Beat Forecast, Pound Rises
The Great Britain pound strengthened today against the U.S. dollar and some other most-traded currencies after the retail sales rose more than expected, suggesting that Britain’s economic recovery is strengthening. The total retail sales volume increased by 0.6 percent between April and May, while the experts expected only the 0.1 percent growth. The Britain’s policy makers pledged to perform the spending cuts in the emergency budget on June 22nd. Mervyn […]
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June 172010
Malaysian Ringgit Falls on European Debt Concerns
The Malaysian ringgit weakened today as the threat of the spreading sovereign-debt crisis in Europe drove the investors to the safety of the U.S. dollar away from the Asian currencies. The Asia Dollar Index slid 0.2 percent and the MSCI Asia Pacific Index slipped 0.4 percent. The concerns about the European crisis strengthened after the European Commission said that the European nations urgently need to cut their budget deficits and the countries with the big debts may be […]
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June 172010
Dollar Weakens vs. Euro on Unfavorable Macroeconomic Reports
The euro erased its yesterday’s losses against the U.S. dollar as Spanish bond auction alleviated fears of the European debt crisis, while the dollar was weakened by some unfavorable macroeconomic reports. An unexpected increase of initial jobless claims and a sharp drop of Philadelphia Fed index were especially frustrating. EUR/USD currency pair trades currently near 1.2388. Initial jobless claims was 472k in the previous week, an increase from the previous week’s […]
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June 172010
Swiss Franc Gains as SNB Thinks Risk of Deflation Gone
The Swiss franc gained today, rising for a fourth day against the U.S. dollar, as the central bank think that the threat of the deflation has gone. The Swiss National Bank previously was attempting to rein the currency’s appreciation as the strong currency threatened to cause deflation. The central bank’s officials said that they are ready to intervene again if the gains of franc would pose threat to the nation’s economy. USD/CHF traded near 1.1182 as of 8:35 […]
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