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Day: September 30, 2010
September 302010
Aussie Drops from Two-Year Record, Remains Strong
The Australian dollar fell today, after reaching the highest level in two years against the US dollar, as the report showed that the new home approvals declined in August, causing the speculation that the central bank wouldn’t raise the interest rates next week. The Australian Bureau of Statistics reported today that the number of the new building approvals dropped 4.7 percent in August, compared with 0.1 percent increase in the month before. The experts expected […]
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September 302010
Canadian Dollar Goes Up After Report on GDP
The Canadian dollar rose today for the first time in four days against the dollar and in five days versus the euro after the report showed that the decline of Canada’s economy was in line with the forecasts. Jim Flaherty, Canada’s Minister of Finance, said yesterday that the economic data may be negative and the analysts estimated that Canada’s economy shrank 0.1 percent. The report today about Canada’s gross domestic product proved these […]
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September 302010
Chinese Yuan Depreciates for First Time in 13 Days
The Chinese yuan went down today for the first time in 13 days on the speculation that China wouldn’t increase the pace of the yuan’s appreciation in the response to the US threats of the trade sanctions. The House of Representatives voted yesterday in a favor of the measures that would let the US companies to petition for the duties on the Chinese imports to compensate for the effect of the weak yuan. The Chinese government claims that too fast appreciation of the yuan may cause the job losses and the social instability […]
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September 302010
Euro Falls vs. Yen After Spain’s Credit Rating Downgraded
The euro slid against the Japanese yen on the concerns for the costs required to bailout Ireland’s banks and after Spain’s credit rating was downgraded. The currency rose against the US dollar. Ireland’s central bank said the Anglo Irish Bank Corp. and Allied Irish Banks Plc would require more money to bailout, perhaps as much as â¬14.4 billion ($19.6 billion). The Moodyâs Investors Service downgraded Spain’s debt rating from Aaa to Aa1, […]
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September 302010
Unexpectedly Good US Macroeconomics Bring EUR/USD Down
EUR/USD currency pair is falling after sharp advance as virtually all of the economic reports from the US were better than expected. At the same time concerns about Ireland’s banks are driving the euro down, as well as a downgrade of Spain’s debt rating. EUR/USD trades near it opening level of 1.3626 now. Initial jobless claims was at the seasonally adjusted rate of 453k, down from the previous week’s revised figure […]
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