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Day: July 1, 2010
July 12010
Franc Falls, Causing Talks About SNB Intervention
The Swiss franc dropped today against the euro, leading to the speculation that the Swiss National Bank renewed its selling of the franc to prevent the strong currency from harming the economy; the U.S. dollar demonstrated the worse performance, therefore against the greenback the Swiss currency rose. Previously the franc grew as the report indicated that the Swiss manufacturing expanded for the 10th month. The SNB said on June 17th that the pressure of the deflation has mostly gone, hinting […]
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July 12010
Dollar Goes Down on Signs of Faltering Recovery
The U.S. dollar weakened today on the signs that the economic recovery in the U.S. might slow and as the European fiscal system showed the signs of recovery, damping the appeal of the U.S. currency as the safe haven. The initial jobless claims unexpectedly increased to 472,000 from 459,000, while the forecasts promised the decline to 454k. The manufacturing sector continued to grow during June; however, the rate of growth as indicated by the ISM PMI, which dropped to 56.2% in June from 59.7% in the month […]
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July 12010
Canadian Dollar Declines as Economic Growth Halts
The Canadian dollar fell today to the lowest level since July 7th against the U.S. currency and to the lowest level in more than a month versus the euro after the report showed that Canada’s economic growth halted in April and the U.S. employers added fewer jobs than was expected. Canada’ gross domestic product was unchanged in April after seven consecutive monthly increases, while the analysts predicted 0.2 percent growth. The U.S. […]
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July 12010
Chilean Peso Falls on Low Economic Activity
The Chilean peso weakened today against the euro as the industrial output and sales rose less than forecast and the mining production fell. Industrial sales grew 0.5 percent compared to the previous year, while the median forecast was 3.1 percent. Industrial output rose 4.2 percent, compared to the predicted 4.7 percent. The less-then-expected economic activity together with the concern for the global economy dragged down the peso. EUR/CLP traded near 671.5200 as of 9:13 […]
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July 12010
EUR/USD Extends Gains on Unexpectedly Bad Economic Indicators
The EUR/USD currency pair extended its gains today as U.S. macroeconomic indicators left a very unpleasant impression today. The manufacturing sector showed a slowdown in the economic activity and home market confirmed its tremendous weakness, as pending home sales dropped a way more than was expected. Unexpected increase of jobless claims wasn’t supportive either. Is the economic recovery in the U.S. is over? EUR/USD trades near 1.2435 now. The advance […]
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