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Day: November 24, 2010
November 242010
Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite
The Canadian dollar surged today, erasing losses against its US counterpart, as the signs of the economic recovery outweighed the risk aversion sentiment, spurring the loonie. The Canadian consumer prices rose 0.7 percent in October, on the seasonally adjusted monthly basis, the largest increase since January 2006. This follows the 0.3 percent increase in September. The retail sales in Canada increased for the fourth consecutive month, rising 0.6 percent in September. The retail sales in the volume […]
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November 242010
Japanese Yen Strengthens vs. Euro on Korean Conflict
The Japanese yen rose today against the euro after it declined previously as the United Nations called for the talks with North Korea about its attack on the South Korean island, supporting the Asian equities and reducing the demand for the haven. The MSCI Asia Pacific Index of shares reduced its losses to 0.4 percent after it previously fell as much as 1.3 percent. The experts say that if the Korean conflict wouldn’t continue the incident […]
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November 242010
New Zealand Dollar Rebound After Decline
The New Zealand dollar strengthened today after two days of decline on the speculation that the previous drop was exaggerated and the global economic growth would bolster the kiwi. The New Zealand currency dropped yesterday on the concerns for the European debt crisis and the Korean conflict. The economists said that the currency dropped too much and the economic growth should outweigh the bad news, improving the markets sentiment and spurring the commodity currencies. NZD/USD advanced from 0.7587 […]
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November 242010
EUR/USD Rebounds as Demand for Safety Wanes
EUR/USD rebounded today from an initial decline on speculation that yesterday’s drop was overdone and as demand for a safety waned. Today we had a day rich on a macroeconomic data ahead of holidays. There will be no more economic reports this week. EUR/USD trades now at 1.3375. Initial jobless claims decreased to 407k last week from the previous week’s revised figure of 441k. The expected value was 434k. Durable […]
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November 242010
Dollar Strengthens as US GDP & Manufacturing Expands
The US dollar advanced after the report showed that the US GDP and manufacturing expanded and on concerns for the European debt crisis and the Korean conflict. The preliminary report on the US gross domestic product showed that the US economy grew 2.5 percent in the third quarter of this year. The analysts expected the growth by 2.3 percent. The Manufacturing Activity Index of the Federal Reserve Bank of Richmond rose to 9 in November from October’s reading of 5. The expected value […]
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