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Day: August 11, 2010
August 112010
Canadian Dollar Fall vs. Greenback to Three-Week Low
The Canadian dollar fell versus the greenback today to the lowest level since July 22nd after the Federal Reserve suggested that the US economy would grow with slower pace, reducing the appeal of the growth-linked currencies. The Canadian currency managed to outperform the euro. The Standard & Poorâs 500 Index dropped 1.5 percent. Crude oil, Canada’s key export, fell 1.2 percent to $79.32 per barrel in New York. The Fed said […]
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August 112010
Global Economic Outlook Remains Grim, Pushing Dollar Higher
The US dollar surged today versus the Great Britain pound and the euro as the signs of the global economy’s slowdown spurred the investors to look for the safer currencies. The yen outperformed the greenback as the concerns for the US economy made the Japanese currency more appealing as the safe currency. The Standard & Poorâs 500 Index went down by 2.1 percent and the Stoxx Europe 600 Index slipped 1.8 percent. The deficit of the US trade balance increased to $49.9 billion in June, […]
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August 112010
Sterling Declines as Confidence of Consumers Wanes
The Great Britain pound declined today against the US dollar and the Japanese yen as the concerns about the possible slowdown of the nation’s economic growth weakened the currency. The Nationwide consumer confidence index dropped to 56 in July from the previous value of 63. The median forecast value was 60. The pound was also weakened as the forecast of the Federal Reserve about the slower US economic growth increased the concerns about the global economic recovery. GBP/USD dropped […]
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August 112010
EUR/USD Drops to Lowest Level Since July 23rd
EUR/USD tumbled down today as yesterday’s dovish FOMC statement shook markets, seriously hurting outlook for the global economy. Today’s reports showed that trade balance deficit and treasury deficit increased, while US crude oil inventories continued to decline. EUR/USD trades now near 1.2874. US trade balance report today showed that a deficit increased to $49.9 billion in June, while analysts expected that the deficit would […]
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August 112010
Rand Weakens on Slower Manufacturing Growth
The South African rand dropped versus the US dollar today, following yesterday’s decline, on the speculation that the growth of the manufacturing output slowed in South Africa. The manufacturing growth fell to 6.7 percent in June, compared to 7.9 percent in May. The strikes continue to threaten the nation’s economic stability as about 31,000 workers from the automotive industry went to the strike to demand the higher wages. USD/ZAR rose from 7.200 to 7.254 today as of 8:24 GMT after […]
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August 112010
Aussie Weakens on Reduced Demand for Riskier Assets
The Australian dollar fell today as the signs of the slower economic growth, particularly in the US and China, damped the demand for the riskier currencies. The Federal Open Market Committee said in the statement after its meeting that “the pace of economic recovery is likely to be more modest in the near term than had been anticipated”, significantly reducing hopes for the strong economic recovery in the US and in the whole world. China’ government was trying to cool the nation’s overheated […]
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