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Day: December 14, 2010
December 142010
Canada’s Currency Strengthens on Good Fundamentals
The Canadian dollar rose today on the good fundamentals in Canada and the US, the nation’s largest trading partner, and as the prices for crude oil, the biggest Canadian export, pared losses. Canada’s leading index rose 0.3 percent in November, the same as in October. The seasonally adjusted US Producer Price Index rose 0.8 percent in November. This increase followed the 0.4 percent advance in both October and September. The retail sales in the US posted the increase by 0.8 percent […]
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December 142010
Aussie Reaches Parity with Greenback on China’s Interest Rates
The Australian dollar jumped, reaching parity with the US currency, today as China refrained from increasing its interest rates, boosting the commodities and the stocks and increasing the attractiveness of the currency. China was expected to increase the interest rates after the inflation reached 5.1 percent in November. The requirement for the banks to increase their reserves further fueled to the expectation of the interest rates hike. The unexpected decision to hold the rates shook the markets and they still are trying […]
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December 142010
Dollar Falls on Talks About Additional Bonds Buying
The US dollar slid today after the Federal Reserve signaled that it may extend its bonds purchasing program and on concerns that the US economic recovery may stall. The currency regained some strength after the favorable macroeconomic reports. The Federal Reserve Chairman Ben S. Bernanke voiced his concerns that the recovery may not be self-sustaining and the additional stimulus may be required to support the economy. These words […]
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December 142010
Taiwan Dollar Gains, Will Government Intervene?
The Taiwan dollar rose today as the foreign capital inflows and the rapid economic growth in Asia bolstered the attractiveness for the currency. Previously the Taiwan dollar fell from the highest level in 13 years on the speculation that the government may intervene to slow the currency’s appreciation. The intervention may yet happen and there are rumors that the government already sold the currency to curb the gains. For now, the Taiwan dollar remains the best-performing Asian currency this quarter. USD/TWD […]
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December 142010
EUR/USD Fluctuates on Reports from US & FOMC Statement
EUR/USD jumped today in the first half of today’s trading session on speculation that the Federal Reserve is going to expand its bonds purchasing program, but later the currency pair dropped as reports from the US bolstered the dollar. Today virtually all reports were favorable for the US currency. The Fed didn’t changed its plans for bonds buying, but said that it “will regularly review the pace of its securities purchases […]
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December 142010
Canadian Dollar Gains vs. Greenback on Chinese Interest Rates
The Canadian dollar jumped today against its US counterpart as China kept interest rates unchanged, resulting in the advance of the commodities and the stocks and gains of the commodity currencies. The currency declined versus the euro as the North American equities and crude oil pared gains. The interest rates hike in China was already priced in and the markets now try to adjust themselves after the rates increase hasn’t happened. Mark Carney, the Governor of the Bank of Canada, voiced his […]
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