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Day: September 23, 2010
September 232010
Poor Economic Reports Signal About Slower Recovery, CAD Down
The Canadian dollar fell today as the investors’ sentiment shifted to the risk aversion after the reports from the US, Europe and Canada itself signaled that the global recovery is faltering, decreasing the appeal of the growth-related currencies. The currency rose against the euro. The claims for the unemployment benefits unexpectedly rose last week in the US from 453,000 to 465,000. The manufacturing and services industries in the European countries, including Germany and France, declined noticeably more than predicted. The reports […]
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September 232010
Will Yuan Appreciate? Yes. Slowly.
The clash between the US and China over the freedom of the yuan’s movement continues. China indeed allowed its currency to appreciate but the US are obviously unpleased with pace of the appreciation and demand from China to let the yuan float more freely. Is the yuan really undervalued and will it appreciate in the future? The US officials claim that China’s currency is below the level, which can be considered the fair market value, […]
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September 232010
Rand Drops as Central Bank & Importers Buy Dollars
The South African rand weakened today as the rand’s gains encouraged the central bank and the importers to take advantage of the stronger currency and buy the US dollars. The rand’s rally may hurt the country’s exports but the central bank has limited resources to curb the currency’s gains. Gill Marcus, the central bank’s governor, said that there is no “easy solution” and the measures to trim the advance of the rand can be “hugely costly”. The currency surged […]
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September 232010
New Zealand Dollar Slumps as GDP Grows Less Than Forecast
The New Zealand dollar slumped today after the government reported that the nation’s economy expanded less than expected, damping the prospect for the interest rates hikes. The New Zealand gross domestic product rose 0.2 percent in the third quarter of this year, following the 0.5 percent growth in the second quarter. The actual growth was much smaller than the forecast 0.8 percent increase. The slow economic growth reinforced the outlook that there […]
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September 232010
EUR/USD Down on Good Reports from US, Bad Data from EU
EUR/USD currency slipped today as economic data from Europe suggested about struggling recovery, while reports from the US, including existing home sales and leading indicators, were encouraging. Number of unemployment claims unexpectedly increased, though. EUR/USD trades currently near 1.3332. Initial jobless claims posted an increase from 453k to 465k last week, instead of an expected decline to 451k. Existing home sales increased to a seasonally adjusted […]
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