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Day: December 15, 2010
December 152010
Dollar Strengthens on European Crisis & Favorable Fundamentals
The US dollar rose today against most of its major counterparts on the concerns that the financial crisis may spread across the Eurozone and as the macroeconomic reports signaled that the economic recovery in the US persists. The industrial production in the US increased 0.4 percent in November after the decline of 0.2 percent in October. The Consumer Prices Index rose 0.1 percent in November, following the 0.2 percent growth in October. The Dollar Index, which tracks the performance of the greenback […]
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December 152010
Swiss Franc Gains vs. Euro on Debt Concerns, Declines vs. Dollar
The Swiss franc rose against the euro today as the concerns for about the European debt crisis increased the demand for the currency as the safe haven, but dropped versus the US dollar as the yesterday’s reports signaled about the stronger economic growth in the US. The concerns about the state of the Eurozone economy remain in place and strengthened on the prospect of the downgrade of Spain’s credit rating. The dollar was weakened by the expectations of the increase of the Federal Reserve’s bonds purchasing program, but the Fed didn’t […]
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December 152010
Euro Falls as Moody’s May Downgrade Spain’s Credit Rating
The euro dropped today after the Moodyâs Investors Service said that Spainâs debt rating is reviewed for the possible downgrade, renewing the concerns about the spreading of the sovereign-debt contagion across the Eurozone. The Moody’s said that it may downgrade the credit rating because of Spain’s “vulnerability to funding stress”. The leaders of the European Union will meet at the two-day summit in Brussels tomorrow to discuss the permanent system to prevent the fiscal crises. The German Chancellor Angela […]
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December 152010
EUR/USD Declines as Spain’s Credit Rating May Be Downgraded
EUR/USD fell today as Moody’s Investors Service said that Spainâs debt rating may be downgraded. There were plenty of reports from the US today and they showed a mixed picture. EUR/USD currently trades near 1.3347 after it dropped previously as low as 1.3285. CPI rose 0.1% in November, while the same 0.2% growth as in October was expected. NY Empire State index climbed to 10.6 in December after […]
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