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Day: December 22, 2010
December 222010
Dollar Drops vs. Yen, Rises vs. Euro on US GDP & Home Sales
The US dollar weakened versus the Japanese yen today after the reports showed that the US GDP and the existing home sales grew less than was predicted by the analysts. The dollar managed to erase losses against the euro. The US gross domestic product grew 2.6 percent in the third quarter, while the forecasts promised the growth by 2.8 percent. The existing home sales expanded by from 4.43 million in October to 4.68 million in November. The Forex […]
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December 222010
Slower Growth of British GDP Makes Pound Weaker
The Great Britain pound extended its losses today after the final revision of the GDP report showed that the economic growth was slower that the experts previously estimated. The growth of the UK gross domestic product has been revised down to 0.7 percent in the third quarter from the previously published estimates of 0.8 percent. The GDP in the third quarter of this year is 2.7 percent higher compared to the third quarter of 2009. GBP/USD […]
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December 222010
Euro Gains on German Import Prices & Italian Retail Sales
The euro gained today as the reports showed that the import prices in Germany rose and the retail sales in Italy increased. The currency struggles to maintain gains as the concerns about the debt crisis undermine the confidence in the European economy despite the good reports. The index of the German import prices increased by 1.2 percent from October to November, compared to the expected value of 0.5 percent. The Italian retail trade index increased by 0.3 percent in October, following the 0.3 percent […]
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December 222010
EUR/USD Erases Gains as US GDP Grows
EUR/USD rose today, but later erased gains as reports showed growth of gross domestic product and existing home sales. The readings were lower than analysts forecast, though. EUR/USD trades now at 1.3086 after jumping to the intraday high of 1.3180. US GDP increased at an annual rate of 2.6% in the third quarter of 2010. That’s higher than growth in the third quarter of 2009 and the previous estimate (1.7% and 2.5% respectively), but below […]
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December 222010
Pound Declines as UK Budget Deficit Grows
The Great Britain pound dropped today as the report showed that the budget deficit climbed to the record, surpassing the analysts’ forecast and causing concerns about the future of the UK economy. The net borrowing in November was £23.3 billion, compared with the borrowing of £17.4 billion a year ago. The forecast value was a deficit of £16.8 billion. The current budget showed the deficit of £19.9 billion in November 2010, while it was £14.0 billion in November 2009. […]
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