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Day: June 29, 2010
June 292010
Pound Falls as Concern for China’s Growth Spurs Risk Aversion
The Great Britain pound weakened today after the stocks dropped on the concern that the economic growth of China may slow, damping the demand for the currencies, considered being riskier. The pound rose previously on the outlook that the emergency budget and spending cuts would reduce budget deficit without hurting the economic growth. Yet the concern, brought by the disturbing prospect for China’s economy, harmed many riskier currencies, regardless of the supportive domestic factors. MSCIWorld Index […]
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June 292010
Concerns for Global Economic Growth Rise, Hurting Loonie
The Canadian dollar today sank against its U.S. counterpart and weakened versus the euro on the concerns about the state of Europe’s economy and its banking system, causing the investors shun the higher-yielding stocks and commodities. The demand for the three-month loans, offered tomorrow by the European Central Bank, will show the state of the European banks, which are required need to repay as much as 442 billion euro on July 1st. The news from other parts of the world also […]
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June 292010
Yen Strengthens amid Concerns for Economic Recovery
The Japanese yen rose today against the U.S. dollar and the euro as the speculation that the global recovery is faltering increased the demand for the safety, boosting the Japanese currency. The pessimism about the European economy remains and now the confidence in the U.S. economy expected to worsen too. The yen tend to rise amid the economic instability as it’s less reliant on the foreign funds because of its trade surplus. USD/JPY traded at 88.75 as of 10:40 GMT after opening at 89.37 […]
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June 292010
Franc Appreciated as Deflationary Concerns Waned
The Swiss franc advanced against the euro today to the record high level after the Swiss National Bank said that it’s not likely to intervene to prevent the franc’s appreciation. Jean-Pierre Danthine, the Member of the Governing Board of the SNB, said that the concern about the deflation “practically disappeared”. He also added that if it would be necessary to increase the interest rates, the central bank “would be able to react very quickly”. […]
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June 292010
EUR/USD Fall, but U.S. Consumer Confidence Threatens Dollar
EUR/USD currency pair dropped for a second day after yesterday’s report about growth of personal spending and income in the U.S. The home price index also brought good news, doubly welcome news from very bearish market. Astounding slump in consumer confidence, though, threatens to erase any positive effect, which the good news brought. EUR/USD trades currently at 1.2152. S&P/Case-Shiller home price index rose in month-to-month comparison in April […]
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