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Day: December 9, 2010
December 92010
Yuan Appreciates as China’s Trade Surplus Grows
The Chinese yuan gained today on the speculation that the growing trade surplus would prompt the Chinese government to allow faster appreciation of the currency. China’s trade surplus exceeded $21 billion in November. The excess of the exports over imports rose to $114 billion in the second half of this year, more than double compared to $55 billion in the first half. The yuan may appreciate 6.2 percent by the end of the next year as China’s government attempts to slow […]
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December 92010
Aussie Goes Up on Good Employment Data
The Australian dollar gained today after the government report showed that the Australian employers added twice as many jobs as was predicted by the experts. The number of the employed persons in Australia grew by 54,600 from October to November, following the increase by 36,900 in October from September. The analysts forecast the growth by 21,300. The unemployment rate remained unchanged at 5.2 percent as was predicted. AUD/USD rose from 0.9794 to 0.9841 as of 9:53 GMT today after it […]
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December 92010
EUR/USD Falls Further as US Jobless Claims Declines
EUR/USD extended its decline today as US claims for unemployment benefits posted a better reading than was expected, adding to optimism about US economy. EUR/USD currently trades near 1.3199. Initial jobless claims dropped from 438k to 421k last week, compared to an expected value of 426k. US wholesale inventories rose 1.9% from September to October, compared to an increase by 2.1% from August to September. They were expected […]
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