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Day: November 16, 2010
November 162010
Ireland’s & Greece’s Debt Problems Continues to Weaken Euro
The euro dropped today as Ireland’s Prime Minister claimed that the nation doesn’t seek the external aid, the concerns about Greece’s debt intensified and the investors’ sentiment turned to risk aversion. Ireland continues to discuss its debt and the way out of it with the European Union and the International Monetary Fund. In the same time, Brian Cowen, the Prime Minister of Ireland, claimed that the nation doesn’t seek aid, but “a credible, efficient and above all […]
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November 162010
South Korean Won Climbs as Central Bank Raises Interest Rates
The South Korean won rose today, as well as other Asian currencies, after South Korea’s central bank increased its interest rates for the second time this year. The Bank of Korea raised its seven-day repurchase rate by 0.25 percentage point to 2.5 percent. The concerns remain that the government would take steps to trim the inflows of the foreign funds in the nation in order to prevent the consumer prices from rising. These concerns may […]
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November 162010
Australian Dollar Drops on Outlook for Interest Rates
The Australian dollar extended its losses against the US dollar today as the Asian stocks declined and on the speculation that the central bank would pause the interest rates increases. The Reserve Bank of Australia raised the cash rate by 0.25 percentage points to 4.75 percent on November 2nd. The analysts say that the minutes of the meeting, released today, suggest that the rates may be kept unchanged in the near future. The MSCI Asia Pacific Index of regional […]
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November 162010
EUR/USD Declines After It Rose on Talks About Ireland’s Bailout
EUR/USD currency pair jumped today in the first half of the trading session, but later returned to its opening level. That was an unexpected move as virtually all reports from the US were worse than forecasts promised. Speculations that Ireland would be able to inject funds into its banks after talks with EU and IMF officials also should supported the euro. Yet for now the European currency declines, […]
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November 162010
Dollar Gains on Europe’s Debt Concerns & US Retail Sales
The US dollar jumped today to the highest level in almost seven weeks against the euro as the concerns about the sovereign-debt continues to plague Europe and after the favorable economic data and the rising yield on the US Treasuries increased the appeal of the US currency. The discussion between Ireland and the European Union about the bailout continues. The markets clearly showed the necessity of the bailout by the rapid decline of the euro. The problem for the euro is that Ireland isn’t only country with the debt […]
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