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Day: October 14, 2010
October 142010
South Korea Keeps Interest Rates Unchanged, Won Jumps
The South Korean won jumped today to the highest level in 5 months after South Korea’s central bank refrained from raising the interest rates. The Bank of Korea left its seven-day repurchase rate unchanged at 2.25 percent for the third month today, after increasing it from the record low 2 percent in July. South Korea’s officials voiced the concern about the volatility of the interest rates across the world, which may harm […]
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October 142010
Loonie Trades at Parity with Greenback for First Time Since April
The Canadian dollar gained today, reaching parity with the US currency for the first time since April, on the rally of the commodity prices and as Canada expected to be the first nation among the Group of Seven to balance its budget. The weakness of the US currency itself also helped the loonie to reach parity. The meeting of Canada’s central bank policy makers on October 19th should has great impact on the moves of the Canadian currency, as on this meeting the interest rates […]
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October 142010
Aussie Hits New Record, Trades Near Parity with Greenback
The rally of the Australian dollar continues and the Aussie traded near the parity with the greenback today as the Asian stocks gained, suggesting the global recovery is gaining momentum. The MSCI Asia Pacific Index of regional shares advanced 1.8 percent today, while the Standard & Poorâs 500 Index gained 0.7 percent yesterday to the highest level since May 3rd. The riskier currencies, including the Australian dollar, were also supported by the forecast that […]
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October 142010
Dollar Extends Losses as Fundamentals Aren’t Supportive
The dollar continues its downfall against the euro in anticipation of another round of quantitative easing. Fundamentals don’t provide support for the US currency as reports about trade balance and jobless claims were somewhat worse than expected. EUR/USD surge today to 1.4121 and settled for now at 1.4069. Producer Price Index (PPI) increased 0.4% in September, seasonally adjusted, following a 0.4% rise in August. The expected value was 0.2% increase. Trade balance […]
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