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Day: August 13, 2010
August 132010
Japanese Yen Declines vs. Dollar & Pound
The Japanese yen weakened today against the US dollar and the Great Britain pound and traded near the opening level versus the euro as the traders consider the possibility of the intervention by the Bank of Japan in order to curb the currency’s gains. The Japanese currency gained on the concern for the global economic recovery, spurred by the dovish statement of the Federal Reserve this week. The problem is that the strong currency may hurt the Japanese exporters, and thus harm Japan’s economic growth. The BoJ […]
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August 132010
Swiss Franc Rises vs. Euro on Economic Prospects
The Swiss franc rose today against the euro on the speculation that the austerity measures would cripple the economic recovery in Europe and that the Swiss National Bank would raise the interest rates before the European Central Bank. The franc fell versus the US dollar. Manuel Oliveri, the strategist at UBS, said: Austerity measures will hamper growth in Europe, put pressure on the single currency and support the franc. Even if concerns have waned that […]
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August 132010
New Zealand Dollar Gains on Retail Sales & Stocks
The New Zealand dollar gained today against its US counterpart after the report showed that the retail sales grew with the fastest pace since 2007; the stocks rallied, adding to the attractiveness of the higher-yielding currencies. The retail sales in New Zealand grew by 0.9 percent in June, compared to the previous reading of 0.4 percent and the predicted value of 0.5 percent. The Standard & Poorâs 500 Index and the MSCI Asia Pacific Index of regional shares […]
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August 132010
Euro Rises vs. Dollar on German GDP, But Can It Sustain Its Gains?
The euro halted today it four-day losing streak against the US dollar after Germany’s economy grew with faster pace than anticipated, suggesting the Eurozone economy is more stable that was thought. The German gross domestic product rose by 2.2 percent in the second quarter of 2010. The median estimate was 1.3 percent growth. The result for the first quarter of 2010 was revised substantially upwards, now showing a 0.5 […]
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August 132010
EUR/USD Resumes Decline After Surge on GDP
EUR/USD jumped today at the start of trading session on good GDP values in Eurozone countries, especially Germany, but later resumed its decline. Reports from US hadn’t brought any surprise, as forecast correctly predicted changes of macroeconomic indicators. EUR/USD is trading now near 1.2761 after jumping as high as 1.2905. US retail sales posted an increase of 0.4% in July. The May to June 2010 percent change was revised […]
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