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Day: October 15, 2010
October 152010
Loonie Declines with Commodities and US Consumer Confidence
The Canadian dollar slumped today against the US dollar after crude oil and other commodities declined and the US consumer confidence deteriorated, damping the demand for the currencies tied to the economic growth. The Dow Jones Industrial Average fell 0.6 percent and the MSCI Global Index of equities dropped 0.5 percent. November delivery for crude oil went down 0.5 percent to $82.25 per on NYMEX. The Preliminary Reuters/University of Michigan Consumer Sentiment unexpectedly fell […]
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October 152010
Aussie Retreats After Reaching Parity with Greenback
The Australian dollar traded at parity with its US counterpart today before retreating on the speculation that the Aussie rallied too fast. The weakness of the greenback and the concerns for the US economy allowed the Australian dollar reach parity against the US currency for the first time. It looks like the traders haven’t got used to the idea of parity between these two currencies and unwilling to buy the Aussie at such high prices. The fundamentals haven’t changed, though, […]
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October 152010
Dollar Head to 15-Year Low vs. Yen Before Bernanke Speaks
The US dollar headed today to the lowest level in 15 years before the speech of the Federal Reserve Chairman Ben Bernanke, which may make clearer the steps intended by the Fed for the quantitative easing. The Federal Open Market Committee signaled this week about additional stimulus for the US economy, today’s Bernanke speech may provided more details about the intended measures. It looks like the traders put more attention to the US quantitative […]
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October 152010
EUR/USD Tumbles Despite More Signals About Easing
The Federal Reserve Chairman Ben Bernanke in his speech today signaled that the Fed indeed is going to stimulate the US economy. Instead an expected weakness of the dollar we’ve seen slump of the euro. There was many reports from the US today and economic data was somewhat mixed. EUR/USD trades now at 1.3957 after jumping as high as 1.4156. US retail sales expanded 0.6% in September, following a 0.7% (revise from […]
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October 152010
International Pressure Makes Yuan Rise to Record vs. Dollar
The Chinese yuan climbed against the US dollar today to its highest level since 1993 on the speculation the Chinese policy makers will submit to the international pressure to allow the currency appreciate with faster pace. China’s central bank set the reference rate at 6.6582 per dollar, the highest level since the end of the dollar-peg in July 2005. Timothy Geithner, the US Secretary of the Treasury, in his speech to the International Monetary Fund urged China to let […]
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