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Day: August 3, 2010
August 32010
Yen Rises on Growing Concerns for US Economy
The Japanese yen went up to the highest level since November 2009 against the US dollar and advanced versus all other most traded currencies after the economic reports suggested that the US economy would require additional stimulus measures, spurring the risk aversion sentiment. The pending home sales in the US unexpectedly dropped 2.6 percent in June, while the economist expected growth by 0.5 percent. The factory orders declined by 1.2 percent, […]
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August 32010
Canadian Dollar Falls as Economic Outlook Worsens
The Canadian dollar weakened today as the bad economic data from the US, Canada’s biggest trading partner, caused the pessimism about Canada’ economic growth. The job reports from US and Canada should have great impact on the markets, and the traders aren’t very hopeful about these reports. Canada’s employers added 12,500 jobs in July, according to the analysts’ estimates, while in the US the non-farm payrolls expected to fall by 60,000 the last month. Today […]
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August 32010
Kiwi Strengthens on Positive Data from Asia
The New Zealand dollar strengthened today as the signs of improving global economy and the accelerating economic growth in Asia, particularly in China, causes the speculation that the demand for the currency will rise. The MSCI Asia Pacific Index of shares climbed 0.6 percent. China demonstrated the stable economic growth, bolstering the kiwi as China is New Zealand’s second biggest export market. The positive economic data encourages the analysts to say that the kiwi would jump […]
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August 32010
USD Rises vs. Euro, But May Reverse Trend on Bad Reports
The USD slumped at the start of today’s Forex trading session, but later began gradually to rise. Unfavorable reports may reverse this trend, though. EUR/USD trades now at 1.3189. Personal income and personal spending grew less than 0.1% in June. In May personal income increased by 0.3% (revised down from 0.4%), while personal spending rose by 0.1% (revised down from 0.2%). Analysts expected that income would […]
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August 32010
South Korean Won Climbs on Record Reserves
The South Korean won strengthened today, reaching the highest level in more than two months after the nation’s foreign-exchange reserves climbed to the record level. The nationâs reserves jumped to $285.96 billion in July from $274.22 billion in the month earlier. The reserves were boosted by the gains of the euro and the pound. The government announced that it’s going to take measures to stabilize the currency. USD/KRW dropped to 1,171.50 from 1,172.40 today as of 8:48 GMT. If you have […]
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