Day: November 30, 2010

November 30
2010

Pound Surges vs. Euro as Concerns About Europe’s Debt Grow

The Great Britain pond climbed against the euro today on the mounting concerns about the debt crisis in the European Union. The pound traded near the opening level versus the US dollar as the UK consumer sentiment unexpectedly declined. The GfK NOP Consumer Confidence Barometer dropped from -19 to -21 in November, while it was expected to remain at the same level. The spread between the Italian securities, maturing in 10 years, and the German bunds surged to more […]

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November 30
2010

Brazilian Real Pares Losses as Central Bank May Raise Rates

The Brazilian real pared today its previous losses on the outlook for the central bank to increase the interest rates, attracting more investors to the country. The analysts say that the central bank may raise the interest rates to battle the high inflation, which reached 5.2 percent, the highest level in five months. The traders bet that the central bank’s policy makers would perform the interest rates hike on their next meeting on December 8th and they […]

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November 30
2010

EUR/USD Falls as PMI & Consumer Confidence Improve

EUR/USD today extended its decline to the lowest level since September, though currently recovered somewhat, on concerns about European sovereign-debt crisis and as US economy shows signs of recovery. The recovery is followed by improvement of consumer confidence. Tomorrow we’ll see if the recovery helped to increase the number of employed persons in the US. EUR/USD trades currently near 1.3021 after it reached the intraday low of 1.2969. S&P/Case-Shiller home price index […]

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November 30
2010

Australian Dollar Weakens as Business Profits Decline

The Australian dollar dropped today on the concerns about the Korean conflict and the European sovereign-debt. The currency also fell after the report showed that the business profits in Australia unexpectedly declined. The Australian Company Gross Operating Profits dropped 1.5 percent in the third quarter. It followed the huge increase by 17.0 percent in the second quarter. The median forecast was the increase by 4.3 percent. The Australian currency was also weakened by the concerns about the conflict between […]

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November 30
2010

Canadian Dollar Rises as Crude Oil Reaches Two-Week High

The Canadian dollar jumped against the euro today as Ireland’s bailout failed to reduce the fears about the European sovereign-debt crisis. The currency also slightly rose versus the US dollar after crude oil reached the highest level in two weeks. January futures on crude oil, the biggest Canada’s export, climbed as much as 2.4 percent to $85.78 per barrel after the prices rose to $85.83, the strongest intraday level since November 12th. The analysts […]

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