Day: June 30, 2010

June 30
2010

Pound Weakens on Fears of Double-Dip Recession

The Great Pound weakened today after the central bank’s policy makers suggested that the budget spending cuts might throw the Britain’s economy back into recession. The GfK NOP index of the consumer sentiment dropped to -19 this month from -18 last month. This drop added to the general opinion that the fundamentals in the U.K. remain weak. The concern among the economist is that the pound’s gains may actually lead to the double-dip […]

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June 30
2010

Euro Rises on Optimism for European Fiscal System

The euro strengthened today after the European Central Bank announced that it would lend the European banks less than was expected, fueling optimism for Europe’s fiscal system. Previously the euro dropped on the worries that the banks would require more loans, signaling that the weak European banking system wouldn’t survive without support. The ECB said, though, that it’d loan 131.9 billion euro to the banks, that’s more […]

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June 30
2010

Thai Baht Rises, but Remains Under Pressure

The Thai baht rose today after it previously fell as the political turmoil drove away the investors and prompted them to take away the fund from the nation’s equities. The foreign investors took away $1.88 billion from the nation’s stocks since March, following the $1.31 billion net purchases in the first three months of 2010. The analysts say that the baht would remain under pressure as the stocks falls and the concerns for China’s growth increase […]

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June 30
2010

Korean Won Weakens as Economic Recovery Slows

The South Korean won slid today after the U.S. consumer sentiment slumped more than forecast, fueling doubts about the strength of the global economic recovery. The MSCI Asia-Pacific Index of regional shares declined for a second day and the Standard & Poor’s 500 Index of the U.S. shares dropped to the lowest level in eight months. Most market participants expect that the forthcoming reports would show the slowdown of the U.S. and China’s economies. USD/KRW traded […]

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June 30
2010

EUR/USD Rises on Bad Employment Report & Lower ECB Lending

The euro strengthened today against the U.S. dollar as the Central European Bank would lend European bank less than was predicted, igniting hopes that European financial system recovers from crisis. ECB announced that it’d loan 131.9 billion euro to banks in a three-month tender, while forecasts spoke about 300 billion euro. The unfavorable report about U.S. employment also helped shared European currency to gain […]

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