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Day: June 25, 2010
June 252010
Canadian Dollar as Safe Currency? It May Be Possible
The Canadian dollar strengthened today, rising for the first time this week against the U.S. currency and for the first time in four days versus the euro, as the crude oil gained and the U.S. economic growth were slower than expected, increasing the demand for the safe haven. The Canadian currency went up as the equities gained and the crude oil futures rose by 2.8 percent. The U.S. economy grew by 2.7 percent in the first quarter of this year, less then […]
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June 252010
Dollar Weakens vs. Pound & Yen on GDP Report
The U.S. dollar weakened today against the Great Britain pound and the Japanese yen as the economic growth in the first quarter of this year were lower than expected; the concerns about the European debt crisis allowed the U.S. currency to rise versus the euro before returning to the opening level. The U.S. gross domestic product rose by 2.7 percent in the first quarter of this year, compared to 5.6 percent in the fourth quarter of 2009. The median forecast of the analysts […]
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June 252010
Euro Fall on Grim Outlook for Global Economic Growth
The euro fell today on the speculation that on the forthcoming meeting the Group of Twenty nations’ leaders would fail too achieve agreement on the way to deal with the European crisis. The experts think that the U.S. politicians prefer the stimulus measures, while the European leaders lean to the austerity measures. Considering the radically different approaches, many don’t believe that the politicians would find the agreement. The U.S.gross domestic product rose by 2.7 percent, lower than […]
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June 252010
Yuan Rises Before G-20 Meeting
The Chinese yuan rose today as China set the daily reference rate to the record high level, giving the currency the chance to appreciate before the Group of Twenty nation’s meeting tomorrow in order to stop criticism for the yuan’s dollar peg. The Peopleâs Bank of China stated on June 19 that it would end the yuan’s two-year peg to the dollar. The other G-20 leaders seem to remain wary, though, about the sincerity of this promise. The yuan is […]
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June 252010
EUR/USD Experience Volatility on Mixed Macroeconomic Data
The dollar were rising today against the euro as the traders don’t expect that the forthcoming G-20 meeting would provide the agreement about the measures to battle the European troubles, but now experiencing volatility after the report showed lesser than expected economic growth. Consumer sentiment continues to improve despite unfavorable macroeconomic data. EUR/USD currency pair trades now at 1.2301. Final revision for the U.S. GDP in the first quarter of 2010 was […]
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June 252010
Canadian Dollar Fall on Global Growth Outlook
The Canadian dollar weakened today, the fourth straight session of declines versus the U.S. currency, as the concern for the global economic recovery drove the stocks and the commodity prices down. The Federal Open Market Committee said yesterday in the statement: Housing starts remain at a depressed level. Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad. This statement shows that the macroeconomic indicators suggest the slower economic growth. […]
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