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Day: November 1, 2010
November 12010
Dollar Strengthens on PMI & Construction Spending
The dollar gained today after the reports showed that the construction spending and the manufacturing in the US unexpectedly grew and as the speculators closed some of their long positions on the euro ahead of the Federal Open Market Committee meeting this weak. The Institute for Supply Management Purchasing Managers’ Index rose to 56.9 in October, while it was expected to decline to 54.2. It was at 54.4 in September. The construction spending grew 0.5 percent in September. It dropped […]
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November 12010
China’s Manufacturing Bolsters Rand
China’s manufacturing growth also bolstered the South African rand as it has increased the appeal of the higher-yielding currencies. China Federation of Logistics and Purchasing Purchasing Managers’ Index advanced to 54.7 in October from 53.8 in September. The Hongkong and Shanghai Banking Corporation Purchasing Managers’ Index also gained, rising from 52.9 to 54.8 in October. Good news bolstered the stocks and the riskier currencies across the world. USD/ZAR jumped from 6.939 to 6.997 as of 11:30 […]
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November 12010
Franc Drops as China’s Manufacturing Curbs Demand for Safety
The Swiss franc declined today as the stocks gained and the Chinese manufacturing expanded, curbing the demand for the safer currencies. The franc also dropped after the report showed that Chinaâs Purchasing Managersâ Index rose from 53.8 to 54.7 in October. The MSCI World Index gained 0.3 percent and the Stoxx Europe 600 Index went up 0.5 percent. The reports from Switzerland itself weren’t so encouraging. USD/CHF rose from 0.9826 to 0.9881 […]
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November 12010
EUR/USD Falls as US PMI & Construction Spending Grows
EUR/USD dropped today as reports showed that construction spending and manufacturing in the US unexpectedly increased. Reports about personal income and spending were worse than expected, on the other hand. There are no releases tomorrow, yet the senate elections, which will occur tomorrow, may have far reaching consequences for the US. The EUR/USD currency pair trades now at 1.3880. Reports about personal income and spending posted lower-than-forecast values. […]
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