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Day: September 2, 2010
September 22010
Yuan Appreciation Continues, May Persist in Next Year
The Chinese yuan appreciated today as the macroeconomic data signaled about the worldwide economic growth and after the central bank set the daily reference rate higher in response to the dollar’s declines. The Chinaâs Purchasing Managersâ Index went up to 51.7 in August from 51.2 in the previous month. The median estimate of the experts was 51.5. The Dollar Index, which monitors the greenback’s performance versus the six major currencies, slumped the most in six weeks yesterday. Reacting […]
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September 22010
CAD Falls on Concern that Yesterday’s Rally was Overdone
The Canadian dollar slipped today on the concern that yesterday’s rally was overdone in the light of the expected nonfarm payroll’s decline and as the fundamentals in Canada signal about the slower economic growth. The tomorrow’s report on the US nonfarm employment change expected to show the decline by 101,000. In Canada itself the employment change posted the decline by 9,300 in July. Crude oil, the main Canada’s export, dropped 0.7 percent today to $73.42 per barrel on NYMEX. The probability of the rates […]
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September 22010
Swiss Franc are Heading to Parity with Dollar on Swiss GDP
The Swiss franc is heading to the parity with the US dollar as the pace of Switzerland’s economic growth was faster than the economists estimated. The currency also gained against the euro. The Swiss gross domestic product grew by 0.9 percent in the second quarter of this year, following the 1.0 percent advance in the previous quarter. The median estimate was the 0.8 percent growth. Now, as the threat of the deflation considered being gone and the Swiss National Bank is […]
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September 22010
Chilean Peso Goes Up as Demand for Copper Increases
The Chilean peso rose today as the outlook for the exports of the raw materials improved after the US and China reported about the better-than-expected growth of the manufacturing. The MSCI World Index of stocks climbed as much as 2.8 percent after the US ISM PMI advanced from 55.5 to 56.3 in August. December delivery for copper, the main export of Chile, rose 3.3 percent to $3.481 per pound on the COMEX. USD/CLP fell from 496.75 to 496.50 today as of 10:04 GMT. […]
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September 22010
EUR/USD Swings, May Decline as US Home Market Improves
The euro was declining at this Forex session against the dollar, than surged and now falling again. Values of jobless claims and nonfarm productivity in the US were near forecasts, but pending home sales presented a pleasant surprise for traders, growing significantly. On the other hand, factory orders rose less than expected. EUR/USD trades near 1.2824 now after it reached the daily low of 1.2777 and high of 1.2846. US initial […]
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