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Day: November 10, 2010
November 102010
Britain’s Inflation Stay Above Target, Boosting Pound
The Great Britain pound advanced against the US dollar today after the Bank of England said that the inflation may stay above the 2 percent target, decreasing the probability of the quantitative easing by the bank and bolstering the pound. The Bank of England raised its near-term forecast for the inflation and expects it to stay above the target through the next year. The bank said that it “stood ready to respond in either direction as the balance of risks evolved”. GBP/USD […]
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November 102010
Dollar Gains vs. Euro & Yen as Treasuries Yield Increases
The US dollar rose today against the euro and the Japanese yen as the increasing yield of the Treasuries raised the attractiveness of the dollar-priced assets. The dollar also strengthened as the reports showed that the US trade deficit narrowed and the unemployment claims decreased. The concerns that the European economy would struggle after the European Central Bank would remove stimulus drove the euro further down against the greenback. EUR/USD dropped from 1.3772 to 1.3692 as of 15:11 GMT today […]
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November 102010
EUR/USD Near Opening Level After Dropping Previously
EUR/USD currency pair dropped today on good economic reports from the US before rebounding. Virtually all US reports were favorable for the dollar, yet for now the euro is trading slightly above the opening level of this session. It’s not likely to gain much as renewed concerns for debt problems in peripheral European nations sap strength out of the euro. EUR/USD trades currently near 1.3780 after it opened at 1.3772 […]
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November 102010
Swiss Franc Posts Gains vs. Euro, Losses vs. Dollar
The Swiss franc strengthened versus the euro on the renewed concerns for the European economy, threatened by the budget deficits of the peripheral economies. The franc fell against the US dollar after the reports showed the consumer confidence in Switzerland decreased. The yield on the Irish 10-year bond compared to the German bunds increased to the record 5.54 percentage points. The spread between the Portuguese and the German bonds rose 13 basis points to the record 4.52 percent. It looks like the European debt […]
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November 102010
Canadian Dollar Falls vs. US Currency, Rises vs. Euro
The Canadian dollar dropped from parity with the US dollar after commodities, including crude oil, and the stocks fell, decreasing the appeal of the growth related currencies. The loonie gained versus the euro. The equities and the commodities fell after the US auctioned Treasuries. The yield on 10-year Treasuries increased 12 basis points to 2.67 percent. The Standard & Poorâs 500 Index slipped 0.8 percent after it rose earlier 0.3 percent. December […]
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