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Day: August 31, 2010
August 312010
CAD Extends Decline, Economy Shows No Signs of Improvement
The Canadian dollar extended its decline for the second day as the poor macroeconomic data continues to undermine the attractiveness of the currency to the global investors. This month can be the worst for the Canadian currency since June 2009. Canada’s gross domestic product grew 0.2 percent in June, less than some analyst predicted. The real gross domestic product grew by 0.5% in the second quarter, after increasing by 1.4% in the first quarter. The reports also showed […]
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August 312010
Thai Baht Demonstrates Best Performance Since February 2008
The Thai baht strengthened today, showing this month the best performance since February 2008, after the central bank raised the borrowing costs and as the pace of the nation’s economic growth was the fastest in 15 years. The Bank of Thailand raised the borrowing costs last week for the second time this year. The policy makers suggested that the rates remain “very low compared to the economic growth even after the increase”. The nation’s gross domestic product […]
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August 312010
EUR/USD Falls on Rising Home Prices and Consumer Confidence
EUR/USD currency pair was rising this trading session but began to decline after reports showed that home prices and consumer confidence increased more than expected. The dollar weakened previously as a report showed that US personal income rose less than analysts estimated. EUR/USD is currently trading near 1.2668. S&P/Case-Shiller home price index increased at a seasonally adjusted rate of 4.2% in June. In the monthly perspective […]
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August 312010
South Korean Won Drops on Concern for Lower Export Demand
The South Korean won dropped today on the concern that the slower economic growth in the US would diminish the demand for the Asian exports. The US is the third biggest foreign market for South Korea. The personal income in the US rose 0.2 percent, less than predicted value of 0.3 percent. The nation’s industrial production expanded 15.5 percent in July, slower than in June (17.7 percent). The won remains the worst performing currency among the Asian […]
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August 312010
Signs of Canadian Economy’s Weakness Push Loonie Down
The Canadian dollar fell today as the macroeconomic data slashed the forecasts for Canada’s economic expansion and curbed the demand for the Canadian currency. This month can become the worst month for the loonie since May 2010. The Canadian economy, which was previously considered very stable, continues to show the signs of weakness. The current account deficit widened by $2.6 billion to reach C$11.0 billion in the second quarter, compared to the forecast value of C$10.2 billion. The Industrial Product […]
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