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Day: September 9, 2010
September 92010
Sterling Declines as Interest Rates Remain Unchanged
The Great Britain pound weakened today after the Bank of England kept the interest rates unchanged and Nick Clegg, the Deputy Prime Minister of the United Kingdom, said that Britain’s economic recovery may be “uneven”. The Bank of England held the key rate at 0.50 percent and performed the quantitative-easing asset purchases at £200 billion ($310 billion). The UK deficit on trade in goods widened to £8.7 billion in July, compared with the deficit of £7.5 billion […]
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September 92010
Dollar Fluctuates After Release of Good US Macroeconomic Data
The US dollar slipped today as the concerns for the global economic recovery eased and the demand for the safer currencies decreased after the positive macroeconomic data from the US was released, but the currency gradually returns to the levels at which it started today’s trading session. The claims for the jobless benefits decreased from 478,000 to 451,000 last week. The median forecast was 470,000. The deficit of the US trade balance shrank to $42.8 billion in July. In June it […]
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September 92010
Canadian Dollar Will Rise Somewhat, But Gains Should Be Limited
The outlook for the Canadian dollar improved after Canada’s central bank raised the interest rates and issued the statement, which was much more hawkish than expected. Still, the uncertainty about the global economic growth will likely limit the potential loonie’s gains. The Bank of Canada decided to raise its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The bank mentioned in its statement that “the global economic recovery […]
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September 92010
AUD/USD at Highest Level Since May 4th
The Australian dollar surged to the highest level since May versus the US currency after the government report showed that the employment in Australia increased more than forecast and the unemployment rate dropped. The employers added 30,900 jobs in August, following the growth by 25,000 in the previous month. The forecast figure was 27,200 jobs. The 30,900 jobs in August decreased to 5.1 percent, compared to the previous reading of 5.3 percent and the predicted 5.2 percent. The report encouraged […]
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September 92010
Reports from US are Good, Euro Manages to Outperform Dollar
EUR/USD was falling at the start of today’s trading session, but later surged. It now fluctuates, but retain its upward trend. Reports from US were good today, yet they may actually aid the euro more than the dollar, as they eased concerns for global economic recovery. EUR/USD trades currently near 1.2735. US trade balance shrank to $42.8 billion in July from $49.8 billion in June. […]
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September 92010
Euro Drops on Doubts in Strength of European Banks
The euro slid today on the speculation that the banks of the European Union would have hard time to raise the funds amid the signs of the slower economic growth in the region. For now, the currency rose somewhat, but still weaker than yesterday. Juergen Stark, the member of the Executive Board of the European Central Bank, said that Germany’s bank require more capital, especially the Sparkasse savings banks, which werenât stress tested, and the state-owned Landesbanks. The industrial […]
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