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Day: August 2, 2010
August 22010
Aussie Strengthens on Economic Growth
The Australian dollar reached today the highest level in almost three months versus its US counterpart and advanced against the Japanese yen as the signs of the robust economic growth supported the outlook for the unchanged interest rates and spurred the demand for the higher-yielding assets. The currency fell versus the euro. The Australian retail sales in June, which will be reported tomorrow, estimated to rise by 0.4 percent after previous increase of 0.2 percent. The Chinese economy may […]
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August 22010
Can Euro Sustain Its Rally? Unlikely
The 16-nation European currency showed the strong performance this summer, just as most traders lost any confidence in the currency. The questions, which of course sits in many minds, is: can the euro sustain its rally? Everything can happen, as the euro showed by its rally, but few economists believe that the currency will continue its rally for the long time. The main reason for the concerns is the austerity measures, taken by the European governments […]
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August 22010
Pound Rises as UK Economy Grows
The Great Britain pound strengthened today against the US currency to the highest level in almost six months as the economic data showed that Britain’s economy expanded faster than the analysts anticipated. The gross domestic product increased 1.1 percent in the second quarter of 2010, compared with the increase of 0.3 percent in the previous quarter. The experts predicted the 0.6 percent growth. The manufacturing PMI posted 57.3 in July, down from 57.6 in June. Even […]
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August 22010
Swiss Franc Fall Despite Record Industrial Activity
The Swiss franc fell today against the US dollar and the euro, as the rally of the equities damped the demand for the currency as the safe haven, despite of the favorable fundamentals. The Stoxx Europe 600 Index climbed as much as 1.9 percent. The rally of the stocks outweighed the data, showing that the industrial activity reached the all-time record. The SVME PMI rose from 65.7 in June to 66.9, the all-time highest level, the last month. USD/CHF rose from 1.0402 to 1.0441 today […]
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August 22010
Your Way to Forex
I bet that nowadays the majority of the new traders comes to Forex market after seeing some on-line advertisements. Several years ago, the currency trading wasn’t so popular as it is now — the majority of traders was into the foreign exchange from the other markets or after visiting some seminars or off-line courses dedicated to the modern retail financial markets. It’s quite interesting how the main attracting power for the industry switches from […]
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August 22010
US Manufacturing Growth Slows, Driving Dollar Down
The EUR/USD rises steadily today after a report showed that European manufacturing is expanding, while US manufacturing growth was slowing. The trend may change, though, as analyst expected even worse results in manufacturing and also were pleasantly surprised by growth of construction spending. EUR/USD trades currently near 1.3163. ISM PMI index declined to 55.5 in July from 56.2, while Forex analysts expected a drop to 54.2. Construction […]
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