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Day: September 28, 2010
September 282010
Franc Heads to Record vs. Dollar
The Swiss franc rose to the highest level since March 2008 against the US dollar as the report showed that the consumer confidence in the US dropped, increasing the appeal of the Swiss currency as the safe haven. The franc also surged against the euro before retreating to the opening level. The consumer confidence retreated in September to 48.5 from 53.2 in August. That’s compared to the median forecast of 52.5. The prospect for more quantitative easing by the Federal Reserve also weakens the dollar […]
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September 282010
Poor US Macroeconomic Reports Increase Appeal of Yen
The Japanese yen rose today to the highest level against the US dollar since the intervention as the US macroeconomic reports today were worse than most pessimistic forecast promised, increasing the attractiveness of the Japanese yen as the safe haven. The currency slipped against the euro. The Conference Board consumer confidence declined from 53.2 to 52.5 this month, while the traders expected the drop to only 48.5. The Richmond Fed Index of Manufacturing Activity tumbled 11 […]
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September 282010
Dollar Down vs. Euro on Outlook for Poor US Economic Reports
The US dollar weakened today against the euro, trimming the previous gains on the concerns about Europe’s economy, as the analysts expect the reports today to show that the house price declined and the consumer confidence deteriorated in the US. The analysts estimated that the Standard & Poor’s Case-Shiller House Price Index dropped from 4.2 percent to 3.1 percent in July. According to their predictions, the Conference Board consumer sentiment dropped from 53.5 to 52.5 in September. […]
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September 282010
Concerns for Europe’s Economy Make Zloty Weaker
The Polish zloty fell today on the renewed concerns for the Europe’s fiscal condition and the ability to fight the budget deficits. For now the currency tries to regain its strength but encountered the resistance. The Standard & Poorâs said that the downgrades of the credit rating most likely would continue as the deficits and the demographics put pressure on the finances. It looks like Ireland now added to the list of countries, which are causing strongest concerns. USD/PLN traded near […]
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September 282010
US Economic Reports Worse Than Forecast, EUR/USD Down
EUR/USD rose today as the reports from the US were far worse than expected, even though the expectations themselves were rather pessimistic. The currency pair most likely won’t be able to retain its rally for long time as it tends to decline after being boosted by good news. EUR/USD now trades at about 1.3486 after falling to the intraday low of 1.3381. S&P/Case-Shiller home price index declined slightly in month-to-month […]
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September 282010
Canadian Dollar Falls with Stocks & Oil Prices
The Canadian dollar fell today after the stocks and the crude oil prices declined, erasing the demand for the growth-related currencies, and as the speculation, that the Bank of Canada would refrain from rising the interest rates further, decreased the appeal of the Canadian currency. The Standard & Poorâs 500 Index fell 0.6 percent. November delivery for crude oil dropped as much as 1.3 percent to $75.52 per barrel on the New York Mercantile Exchange. The equities and the oil prices […]
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