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Day: October 5, 2010
October 52010
Loonie at Two-Month High on Stocks & Crude Oil Rally
The Canadian dollar traded today at the highest level in two months against its US counterpart as crude oil, Canada’s key export, hit the highest level in eight weeks and the global stocks rallied, increasing the appeal of the currencies tied to the economic growth. The euro managed to outperform the Canadian currency. November delivery for crude oil gained as much as 1.8 percent to $82.93 per barrel on NYMEX, the highest level since August 4th. The MSCI World […]
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October 52010
Services PMI Boosts Great Britain Pound
The report about the unexpected growth of the services industries also boosted the Great Britain pound, reducing the possibility that the central bank would be required to restart bond purchases in order to support Britain’s economy. The Markit/CIPS Business Activity Index rose to 52.8 in September from 51.3 in August. The economists expected the slight drop to 51.1. The benchmark FTSE 100 Index of stocks advanced 0.6 percent. The good data reduced the possibility of further quantitative […]
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October 52010
Euro Erases Losses on Services PMI Reports
The euro rose today, erasing the previous losses, against all of its most-trading counterparts after the report showed that the European services industries expanded, suggesting that concerns for Europe’s economy is exaggerated and the recovery gains momentum. The good data overshadowed the concerns that the Moodyâs Investors Service may downgrade Ireland’s credit rating. The Eurozone services purchasing managersâ index advanced to 54.1 in September from the previous estimate of 53.6. The separate […]
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October 52010
Canadian Dollar Falls on Employment & Interest Rates Outlook
The Canadian dollar weakened today against its US counterpart as the stocks dropped and on the outlook for the slower growth of the employment in Canada. The currency rose against the euro. The analysts estimated that the Canadian employers added 11,300 jobs last month after the 35,800 increase in August. The Standard & Poor’s 500 index dropped as much as 1.3 percent. Crude oil, the biggest Canada’s export, was little changed today, rising 1 percent and falling […]
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