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Day: November 11, 2010
November 112010
Aussie Drops from Parity vs. Greenback on Unemployment Rate
The Australian dollar fell from parity with its US counterpart today as the unemployment rate increased, even though it was supposed to fall. The Aussie extended its gains against the euro. The Australian employers added 29,700 jobs in October, following the 49,600 increase in September. That was better than the expected 20,200 employment change. The better-than-expected employment change hasn’t helped to decrease the added 29,700 jobs in October, though, which […]
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November 112010
Yen Rebounds After Previous Decline as China May Cool Economy
The Japanese yen rose today, before returning to the opening level, on the speculation that the accelerating inflation in China would prompt the government to take steps to cool the economy. The consumer prices in China grew 4 percent in October, the biggest advance since October 2008, following the 3.6 percent increase in September. The rapidly growing prices and the increasing trade surplus caused concerns among the Chinese policy makers about the possible asset bubble. The concerns caused […]
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November 112010
Fed’s Easing Spurred Commodities and Bolstered Ruble
The Russian ruble posted gains today as the prices for crude oil rallied and the quantitative easing in the US spurred the demand for the riskier assets. The quantitative easing weakened the dollar and boosted commodities, including oil, the main source of Russia’s export revenue. Crude oil reached $87.63 per barrel yesterday, the highest price in more than two years. The ruble also strengthened as the Federal Reserve kept the interest rates near zero, prompting the investors to seek […]
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