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Day: July 7, 2010
July 72010
Second Day of Gains vs. Greenback for Canadian Dollar
Today was the second day of gains against the U.S. currency for the Canadian dollar, as the rebound of the stocks and the rising prices for crude oil increased the attractiveness of the growth-linked currencies. The Standard & Poorâs/TSX Composite Index, Canadaâs main gauge, went up 0.9 percent, while the Dow Jones Industrial Average rose by 1.4 percent. Futures on crude oil, the biggest nation’s export, gained 2.2 percent to $73.55 per barrel on the New York Mercantile […]
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July 72010
Dollar Falls on Bright Global Outlook and Grim U.S. Prospects
The U.S. dollar dropped today against some currencies as the gains of the global stocks and the increasing commodity prices brightened the outlook for the global growth, while the prospect for the growth of the U.S. economy remains less optimistic, damping the appeal of the U.S. currency as the safe haven; the euro performed even worse than greenback, though, falling against the dollar. The Standard & Poorâs 500 Index rose by 1.5 percent, following its decline by 5 percent last […]
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July 72010
Pound Falls on Concerns for Budget Cuts
The Great Britain pound weakened today as the shop prices rose in June less than in may, adding to the concern that the budget cuts would slow the economic growth. According to the British Retail Consortium, the overall shop price index declined to 1.5% in June from 1.8% in May. Does that mean that the fears of the austerity measures strangling the economy proved true? We should yet to see, but for now, the sterling reacts badly […]
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July 72010
Yen Reinforced by Increasing Concern for Global Recovery
The Japanese yen gained today as the renewed concerns for the global economic recovery draws the investors to the relative safety of the Japanese currency. The Australian Industry Group construction index went down from 53.2 to 46.4 in June, signaling about a decline of the construction. Germany’s factory orders expected to increase by as low as 0.5 percent, compared to the previous reading of 2.8 percent. The uninspiring nature of the economic news put the traders’ sentiment in the risk-aversion mode, boosting the Japanese currency. […]
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July 72010
Canadian Dollar Gains with Rebound on Global Markets
The Canadian dollar rose today against its U.S. counterpart and some other currencies as the growth of the global stocks and the advance of the commodities increased the attractiveness of the growth-related currencies. The loonie, as the Canadian currency is commonly nicknamed because of the image of the waterfowl on the C$1 coin, as the currency, tied to growth, has tendency to rise and fall with the equities and the commodity prices. Therefore, today’s rebound on the global markets was positive for the currency. September futures for copper rose as much […]
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