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Day: July 2, 2010
July 22010
Canadian Dollar Drops on Outlook for Rates & Growth
The Canadian dollar declined today amid the concerns for the economic recovery, which prompted the traders to cut the bets on the increase of the interest rates by the central bank. The concerns were strengthened by the U.S. nonfarm payrolls, which dropped to 125,000 in June, compared to the expected decline by 106,000. The Canadian economy hasn’t showed the very good results either, as its growth had stalled in April. August delivery for crude oil, the main nation’s export, dropped by $1.18 cents […]
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July 22010
Dollar Drops on Lower Than Expected Nonfarm Payrolls
The U.S. dollar dropped today against the euro as the macroeconomic indicators added to the evidences that the U.S. economic recovery is slowing, decreasing the appeal of the greenback as the safe currency. Nonfarm payrolls were worse than expected, posting the 125,000 decline in June, compared to the forecast drop by 106,000. New orders for manufactured goods decreased 1.4 percent in May, following eight consecutive monthly increases, while the median forecast was a decline by only 0.5 […]
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July 22010
Risk Sentiment Improves, Driving Yen Down
The Japanese yen fell today against other most-traded currencies after the Australian government agreed to review the mining taxes, improving the global risk sentiment. The previous Australian Prime Minister Kevin Rudd had proposed a 40 percent tax on all resources. The current Prime Minister Julia Gillard proposed that the mineral resources rent tax would be set at 30 percent, applying to iron ore and coal, while the rent tax […]
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July 22010
EUR/USD Extends Gains on Low Nonfarm Payrolls & Factory Orders
EUR/USD currency pair extended its gains today as lower-than expected nonfarm payrolls and decreasing factory orders added to signs that the U.S. economic growth slows. While the employment in the U.S. was showing troubling results for some time, the manufacturing sector previously supported the optimism for the U.S. And even it can’t support positive outlook anymore. EUR/USD trades currently at 1.2592. Nonfarm payrolls were reported today, showing a loss of 125k […]
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July 22010
Mexican Peso Weakens on Bad News From U.S.
The Mexican peso weakened today, falling against the dollar for the whole week, after the reports showed that the index of the pending home sales in the U.S. fell and the jobless claims unexpectedly increased. The U.S. is Mexico’s biggest trading partner. Therefore, the troubling news about the U.S. house market and the employment had its negative impact on Mexico’s currency. USD/MXN traded near 13.017 as of 8:39 GMT today after it opened at 13.004. If you […]
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