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Day: November 17, 2010
November 172010
Canadian Dollar Weakens on Concerns About US Economic Health
The Canadian dollar dropped today as the poor economic reports from the US caused the concerns about the effect of the quantitative easing on the US economy and decreased the attractiveness of the currencies related to the economic growth. The Federal Reserve announced on November 3rd the so-called quantitative easing. The Fed said it plans to purchase $600 billion in Treasuries through June to bolster the employment and the inflation. These plans received the tremendous amount of the criticism as many economists thought that the excessive […]
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November 172010
Dollar Falls as CPI & Housing Starts Decline, Jobless Claims May Rise
The US dollar declined today as the reports from the US signaled that the recovery of the US economy may be slowing, decreasing the attractiveness of the US currency as the safe haven. The Consumer Prices Index increased 0.2 percent in October, while it was expected to rise by 0.3 percent. The housing starts were at the seasonally adjusted annual rate of 519,000 in October, while the September reading was 588,000. The tomorrow’s report expected to show the growth of the jobless […]
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November 172010
Decline of Unemployment Claims Bolsters Pound
The Great Britain pound gained today after the jobless claims in the UK unexpectedly declined and the concerns about the Irish debt crisis spreading to other countries of the European Union increased the demand for the relative safety of the UK currency. The number of the unemployment claims in Britain fell by 3,700 from September to October. The expected reading was the growth by 5,100. The quarterly unemployment rate decreased by 0.1 percent from the previous quarter to 7.7 percent in September. GBP/USD rose […]
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November 172010
EUR/USD Rises as US Economy Performs Worse Than Expected
EUR/USD pared its losses today as economic reports from the US continues to be worse than economists predicted. The currency pair still may decline in the near future as experts from the International Monetary Fund and the European Union prepares to scan books of Ireland’s debt-laden banks. EUR/USD currently trades near 1.3549. Building permits were at seasonally adjusted annual rate of 550k in October, above the revised rate of 547k in September and frustrating […]
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November 172010
Loonie Falls on Stocks, Oil & Concerns for European Debt Problems
The Canadian dollar declined today as the concerns about the sovereign debt in the European countries caused the investors’ sentiment to shift toward the risk aversion, damping the appeal of the commodities and the stocks and decreasing demand for the growth-related currencies. The futures on crude oil, Canadaâs key export, dropped as much as 3.3 percent to $82.10 per barrel, the lowest level this month. The MSCI World Index of equities in developed nations posted the decline for the seventh day, tumbling 2.1 percent […]
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