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Day: December 28, 2010
December 282010
Poor Economic Data & Rising Commodities Weaken US Dollar
The US dollar slipped today against the commodity currencies on the unfavorable macroeconomic reports from the US and on the rally of the commodities. The S&P/Case-Shiller Home Price index posted an annual decline in October by 0.8 percent, compared to the expected reading of 0.1 percent. The Conference Board Consumer Confidence Index decreased to 52.5 in December after rising to 54.3 in November. The predicted value was 56.2. The poor economic data makes the traders to believe that the Federal Reserve would […]
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December 282010
Outlook for Declining US House Prices Bolsters Swiss Franc
The Swiss franc rallied today versus the US dollar on the speculation that the declining house prices would prompt the Federal Reserve to keep the interest rates near zero. The experts estimated that the Standard & Poor’s Case-Shiller (CS) House Price Index would show a decline by 0.1 percent in tomorrow’s report. The lackluster demand for the housing signals that the economy of the US isn’t strong enough yet to survive without stimulus. USD/CHF dropped […]
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December 282010
Ruble Climbs on Record Oil Prices & Higher Interest Rates
The Russian ruble jumped today to the highest price in two months, heading to the best monthly performance this year, after the crude oil prices touched the highest level in two years and as Russia’s central bank increased the interest rates. Bank Rossii, Russia’s central bank, raised the rate charged on the ruble deposits kept with the central bank by 25 basis points to 2.75 percent on December 24th. Crude oil climbed today 0.4 […]
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December 282010
EUR/USD Falls Despite Worsening US Consumer Confidence
EUR/USD fell today on the speculation that the European Central Bank would perform quantitative easing to support the struggling European economy. Manufacturing data provided an additional reason for the dollar to rally, yet home prices and consumer confidence reports were less encouraging. EUR/USD trades now at 1.3108. S&P/Case-Shiller Home Price index (seasonally-adjusted) declined in October to 143.52 from 144.95 in September. It fell by 0.8% on year-over-year basis, compared to the forecast value […]
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