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Day: July 30, 2010
July 302010
Franc Rises Against Euro on Signs of Improving Economy
The Swiss franc rose reached today the highest level this week against the euro after the leading economic indicators remained at the highest level in almost four years. The KOF Economic Barometer remained at 2.23 in July, the highest level since September 2006. The currency was also bolstered by the speculation that the Swiss National Bank began selling its dollar reserves. Daragh Maher, deputy head of global currency strategy at Credit Agricole […]
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July 302010
Dollar Weakens vs. Yen & Pound on GDP & Confidence Reports
The US dollar fell against the Japanese yen today to the lowest level since November 2009 after the economic report suggested that the US economic growth slows, decreasing the appeal of the US currency. The growth of the gross domestic product slowed in the second quarter of this year to the annual rate of 2.4 percent from the growth of 3.7 percent in the first quarter. The University of Michigan index of the U.S. consumer sentiment dropped sharply from 76.0 in June […]
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July 302010
Indian Rupee Boosted by Increase of Interest Rates
The Indian rupee rose today after the central bank increased the interest rates for the fourth time this year, raising the yield on local assets. The Reserve Bank of India raised the overnight borrowing rate by 50 basis points on July 27. The yield on the Indian securities maturing in 10 years rose to 7.8 percent. The currency also strengthened as the government plans to sell its shares of Engineers India Ltd. USD/INR fell to 46.5350 from 46.5370 […]
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July 302010
Mixed Economic Reports Causes Volatility of EUR/USD
EUR/USD fell at the start of today’s trading session, but later began to rise as some economic indicators suggested that the U.S. economy recovers. Some volatility can be expected as reports showed a mixed set of readings. Number of jobless claims decreased and manufacturing conditions improved. On the other hand, GDP contracted from the previous quarter and economic sentiment continues to decline. EUR/USD trades now near 1.3017. GDP (advance) increased at an annual […]
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July 302010
Brazil’s Real Rises on Better Consumer Sentiment
The Brazilian real advanced today against the euro on the speculation that demand for the South American exports would grow as the European economic outlook brightened. The currency declined versus the greenback. The index of consumer sentiment in the countries of the Eurozone rose from 99 to 101.3 in June. The resulting appetite for the risk on the markets helped the riskier currencies, including the real, to gain. USD/BRL rose to as 1.7600 of 8:50 GMT after opening at 1.7580. EUR/BRL traded at 2.2921 after it […]
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