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Day: July 9, 2010
July 92010
Economic Growth Outlook Boosts Aussie vs. Euro
The Australian dollar rose against the euro and fluctuated versus the Japanese yen on the speculation that the global economic recovery gains momentum, attracting the investors to the higher-yielding currencies; the moves against the U.S. dollar currently ended with losses for the Aussie. Australiaâs S&P/ASX 200 Index gained 0.9 percent and the MSCI Asia Pacific Index of regional shares advanced 0.9 percent. The Reuters/Jefferies CRB Index of raw materials went up 0.5 percent yesterday. […]
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July 92010
Canadian Dollar Rises on Good Employment Data
The Canadian dollar gained for the fourth straight day against its U.S. counterpart and strengthened versus the euro today after the labor market posted the very positive set of results. The employers added 93,000 jobs in June, the astonishing number, which is about 5 times higher then the expected increase by just 17,900 jobs. The unemployment rate dropped to 7.9 percent from 8.1 percent in May, falling below 8 percent threshold […]
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July 92010
Rand Strengthens as Global Recovery Gains Momentum
The South African rand extended its gains against the U.S. dollar for the fourth consecutive day as the speculation that the global economic recovery is gaining momentum encourages the investors to purchase the higher-yielding assets. The International Monetary Fund forecast that the global economy would grow by 4.6 percent in 2010, the biggest increase since 2007. The investors bet on the increase of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded […]
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July 92010
South Korean Won Rises with Interest Rates
The South Korean won rose today after the central bank increased the interest rates for the first time since the beginning of the global economic recession. The Bank of Korea increased the seven-day repurchase rate to 2.25 percent from the record low level of 2 percent. The International Monetary Fund stated three days ago that South Korea’s monetary policy is “somewhat beyond what is necessary to support the recovery” and the nation needs to gradually […]
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