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Day: July 16, 2010
July 162010
U.S. Dollar Weakens vs. Yen; Advances vs. Euro & Pound
The U.S. dollar weakened versus the Japanese yen to the lowest level since the beginning of this year on the signs of the slower economic growth; the bad news from the U.S. fueled concerns for the global economic recovery, causing the euro and the Great Britain pound to drop against the U.S. currency. The Standard & Poorâs 500 Index dropped 2 percent. The University of Michigan preliminary index of the consumer sentiment fell much more than anticipated, to 66.5 in July […]
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July 162010
Pound Falls on Global Economic Outlook
The Great Britain pound slipped today amid speculations that the slowing global economic recovery would decrease the attractiveness of the currencies tied to the growth. The consumer sentiment and the consumer prices in the U.S. expected to fall, fueling concern that the economic recovery would falter. The analysts predict that the house prices in the U.K. would also decline because of the spending cuts. GBP/USD traded at about 1.5384 as of 10:39 GMT today, falling from its opening […]
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July 162010
Pessimistic Outlook for U.S. Economy Bolsters Yen
The Japanese yen rose today on the speculation that the Federal Reserve would keep the interest rates at current record low level as the U.S. economic growth shows signs of the slowdown. The analysts estimated that the confidence of the U.S. consumers dropped from 76.0 to 74.2, according to the University of Michigan preliminary index, which will be released today. The investors cut bets to 14 percent that the Fed would raise the benchmark rate on its meeting […]
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July 162010
EUR/USD Trades Near Opening Level After Reaching 2-Month High
EUR/USD extended its rally at the start of today’s trading session and reached highest level since May 5, but paired its gains and currently trades near the opening level. It may yet rebound as today’s report suggested that confidence of U.S. consumers fell significantly. EUR/USD trades near 1.2938 now. Seasonally adjusted CPI rate declined 0.1% in June, while Forex traders expected it to remain at the same […]
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