Day: July 20, 2010

July 20
2010

Bank of Canada Raises Rate, CAD Reacts Positively

The Canadian dollar rose against all major currencies after the country’s central bank decided to increase the target overnight rate to 3/4 percentage point on its meeting today. The Bank of Canada announced in its statement that the interest rate is increased from 0.50 percent to 0.75 percent today. Although this decision has been expected by the majority of the market analysts, the resulting positive effect for the Canadian dollar was rather strong — […]

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July 20
2010

Near-Term Outlook for Decline of U.S. Dollar

The U.S. dollar was rising as the European crisis increased the demand for the safe currencies, but recently began to decline as the focus of the concerns turned to the U.S. themselves. While at the end of this week the greenback rebounded against some other major currencies, the future of the U.S. currency looks uncertain. The dollar will likely weaken in the near future unless some good news from the U.S. prove the strength of the currency. The lower number of the jobless claims may […]

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July 20
2010

Australian and N.Z. Dollars Rise on China’s Growth

The Australian and New Zealand dollars rose significantly against the other major currencies today as the Chinese stock market demonstrated growth on talks that the government may easy the investment regulations. The Aussie and the kiwi both rallied against the U.S. dollar and the Japanese yen today, with the former posting a second bullish day in a row. Analysts expect the Chinese consumer sector to be the major growth-factor for Australia’s largest and New Zealand’s second largest trade […]

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