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Day: July 12, 2010
July 122010
New Zealand Dollar Down vs. Yen, Up vs. Euro
The Australian dollar fell against the Japanese yen and experienced the volatility versus the U.S. currency today on the concerns for the global economic growth; the kiwi outperformed the euro as the New Zealand economy might be in a better shape than Europe’s one. Bill English, the Minister of Finance of New Zealand, voiced hope that the nation’s budget would return to the surplus before 2016 as New Zealand shows fiscal discipline. The budget deficit already reported to be […]
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July 122010
Aussie Falls After It Rallied Too Much Last Week
The Australian dollar weakened today, following the huge leap up in the last week, on the speculation that the currency has rallied too much, while the global economic growth might slow. The U.S. retail sales estimated to decline by 0.3 percent in June, while the consumer price index expected to drop by 0.1 percent. There were the good news also, limiting the losses of the Aussie. The Standard & Poorâs 500 companies’ profits estimated to increase […]
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July 122010
Euro Drops vs. Dollar on Debt Crisis Concerns
The euro experienced the second day of losses today as the stress tests failed to convince the investors in the ability of the European banking system to withstand the sovereign-debt crisis. The threat of the fiscal crisis’ expansion beyond the boundaries of Greece and Spain turns away the investors from the euro to the relative safety of the U.S. currency. Some economists say that the euro is even overvalued now and the $1.14 level required to bolster the regional exports. EUR/USD traded at about 1.2567 as of 13:22 […]
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July 122010
Pound Falls as Current Account Deficit Widens
The Great Britain pound dropped today below the $1.50 threshold for the first time from the beginning of this month amid the signs that Britain’s economy falters. The U.K. current account recorded the deficit of £9.6 billion in the first quarter of 2010, down from the revised surplus of £0.5 billion in the previous quarter. That was more than twice of the originally expected value of £4.5 billion deficit. GBP/USD dropped to 1.5028 today as of 11:38 GMT […]
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