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Day: December 10, 2010
December 102010
Canadian Dollar Heading for Weekly Decline Despite Today’s Gains
The Canadian dollar rose today as the Canadian trade balance deficit shrank and the consumer confidence in the US, the biggest Canada’s trading partner, improved. Still, the currency is heading for the weekly decline. Canada’s trade balance deficit shrank from C$2.3 billion in September to C$1.7 billion in October. The median forecast was C$2.0 billion. The preliminary University of Michigan consumer sentiment index rose from 71.6 to 74.2. The analysts’ estimate was 72.4. The currency […]
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December 102010
Euro Fluctuates on Disagreement How to End Europe’s Crisis
The euro slipped against the Japanese yen today as the division of the European leaders on the measures necessary to deal with the sovereign-debt problems may hamper the attempts to battle the crisis. The European currency fluctuated against the US dollar. Vitor Constancio, the Vice-President of the European Central Bank, said yesterday that the European Union need to increase the size of the bailout fund to be ready to deal with the fiscal crisis. The German Chancellor Angela Merkel and the French President Nicolas […]
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December 102010
Higher House Prices Bolster Britain’s Pound
The Great Britain pound climbed today as the house prices rose and the European debt crisis increased the attractiveness of the sterling as the safe currency. The house prices grew 0.2 percent in November, posting the gains for the seventh month, according to the report of the Acadametrics Ltd. and LSL Property Services Plc. The pound also rose as the fiscal problems in the European Union increased the appeal of Britain’s assets. The UK central bank kept the interest rates unchanged at 0.5 percent yesterday. […]
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December 102010
EUR/USD Fluctuates, Heading to Weekly Drop
EUR/USD fluctuated today and currently trades near opening level. Earlier the currency pair fell as European policy makers divided in their opinion on how to battle the fiscal crisis. The dollar was further supported by favorable reports about declining trade balance deficit, growing import and export prices and improving consumer confidence. But later US currency weakened after a report showed that treasury budget deficit increased. EUR/USD now […]
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December 102010
Downgrade of Ireland’s Credit Rating Makes Euro Weaker
The euro dropped today as the European sovereign-debt crisis continues undermine the confidence in Europe’s economy and after Ireland’s credit rating was downgraded. The Dollar Index, which tracks the US currency versus the currencies of six biggest US trading partners, rose 0.1 percent to 80.099. Fitch downgraded yesterday Irelandâs credit rating from A+ to BBB+. The President of the European Central Bank Jean-Claude Trichet and the ECB Governing Council member Miguel Angel […]
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December 102010
Canadian Dollar Rises with Crude Oil Prices
The Canadian dollar rose today after crude oil, the main Canadian export, climbed to the highest level in 26 months and as the optimism for the global economic recovery boosted the currencies linked to the growth. January delivery for crude oil gained as much as 1.3 percent to $89.42 per barrel in New York. One of the reasons for gains of crude was the decline of the US jobless claims, which caused speculation that the US economy improves and the demand for oil would […]
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