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Day: October 21, 2010
October 212010
Falling Leading Index & Economic Confidence Drive Loonie Down
The Canadian dollar resumed its decline versus the US currency and extended its losses versus the euro today after the leading indicators dropped and the report showed that the economic confidence deteriorated. The leading index went down 0.1 percent in September, its first decrease since April 2009. In August the index rose 0.6 percent and the analysts promised it to rise this month by 0.2 percent. The Nanos Economic Mood Index dropped […]
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October 212010
China’s Growth Boosts Singapore Dollar
The Singapore dollar rose today on the speculation that the accelerating China’s economic growth would attract the investors to Asia, increasing the appeal of the region’s currencies. The Chinese gross domestic product grew 9.6 percent in the third quarter of 2010 from a year earlier. Consumer prices went up 3.6 percent last month, the fastest growth in 23 months. The economic growth may be subdued a little by the interest rates, which were increased this […]
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October 212010
Unexpected Manufacturing Growth Helps Euro to Rise
The euro gained today for the second day against the US dollar and also rose versus other currencies after the Eurozone Manufacturing PMI unexpectedly increased. The Markit Purchasing Managers’ Index rose from 53.7 in September to 54.1 in October. The expected valued was 53.2. The improving manufacturing caused the speculation that the euro isn’t overvalued and that the strong currency wouldn’t harm the region’s economic recovery. EUR/USD rose from 1.3963 to 1.4022 as of 10:32 […]
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October 212010
US Economy Improves Less than Predicted, EUR/USD Goes Up
EUR/USD rose today as economic data from the US was less encouraging than expected. On the other hand, the data wasn’t very bad by itself: jobless claims decreased, manufacturing conditions improved a little and leading indicators rose. EUR/USD currently trades at about 1.4027 after it dropped to the intraday low of 1.3872. Initial jobless claims went down from 475k (revised from 462k) to 452k last week. The actual value […]
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October 212010
Loonie Rises vs. Greenback, Can It Sustain Its Strength?
The Canadian dollar rose against its US counterpart on the gains of the stocks and raw materials, but the future of the currency amid the economic turbulence across the world remains unclear. Canada’s currency slipped versus the euro. The Standard & Poorâs 500 index advanced as much as 1.1 percent and the MSCI World Index rose 1.2 percent. Futures for crude oil went up 2.9 percent. It looks like the markets recovered very quickly […]
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