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Day: November 15, 2010
November 152010
Pound Gains vs. Euro on Greece’s Debt Concerns, Falls vs. Dollar
The Great Britain pound strengthened today after the European Union’s officials raised the estimates of Greece’s debt, prompting the traders to seek the perceived safety of the UK currency. The pound slipped versus the US dollar. Greece’s budget deficit in the previous year was revised from 13.6 percent of the gross domestic product to 15.4 percent. The nationâs debt was revised from 115.1 percent of the GDP to 126.8 percent. The theme of Greece again returned to the news, […]
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November 152010
Slower Industrial Output Weakens Indian Rupee
The Indian rupee dropped to the lowest level in almost seven weeks against the US dollar today after the reports showed that the industrial production grew with the slower pace, causing the concern that the foreign capital inflows would dwindle. Industrial output grew 4.4 percent in September from a year ago, the smallest gain since May 2009, while the median forecast was the 6.4 percent increase. The analysts say that the impact […]
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November 152010
Kiwi is Influenced by US & New Zealand Retail Sales
The New Zealand dollar fell today as the Asian stocks dropped and the concerns about another debt crisis in Europe decreased the attractiveness of the higher-yielding currencies. The New Zealand dollar also weakened on the speculation that the report will show the US retail sales increased, reducing the flow of the funds to the other markets. The currency jumped, reducing its losses, after the report showed that the retail sales in New Zealand itself grew 0.8 percent in September. […]
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November 152010
EUR/USD Declines as Debt Crisis Threatens Europe
EUR/USD extended its decline today as Europe remains plagued by fears of a sovereign-debt crisis. Reports from the US were mixed as retail sales grew more than expected, but manufacturing unexpectedly slumped. EUR/USD trades at 1.3591 now. US retail sales posted an increase by 1.2% in October, according to advance estimates. Median forecast promised sales to stay at previous revised value of 0.7%. NY Empire State Manufacturing index fell […]
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