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Day: January 5, 2011
January 52011
US Dollar Rises with Employment & Services Index
The US dollar surged today, experiencing a very good beginning of the year as the macroeconomic reports post good results virtually every day. Today we had the reports about employment and services industries in the US, which confirmed the positive trend. The ADP National Employment Report showed that private-sector employment increased by 297,000 in December from the revised November increase of 92,000. The analysts predicted the increase to only 101,000. The Report On Business of the Institute for Supply […]
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January 52011
Euro Declines on German Unemployment & Greece’s Troubles
The euro slipped today on the speculation about Greece’s default and after the report showed that the unemployment in Germany rose, renewing the talks about collapse of the Eurozone. The unemployment rate in Germany, which was steadily declining through 2010, unexpectedly rose by 3,000 in December, following the decline by 8,000 a month earlier. It was expected to drop by 12,000 in December. Greece’s finance minister stated that Greece is not discussing the debt restructuring, resulting […]
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January 52011
Intervention Causes 20-Year Record Decline of Chilean Peso
The Chilean peso dropped today most in twenty years after the central bank announced its intention to purchase $12 billion in the foreign-exchange market. Jose De Gregorio, the Governor of the Central Bank of Chile, also presented yesterday the plan to purchase $50 million per day from January 5th to February 9th. Previously the peso surged as the rally of copper prices improved the outlook for Chile’s economy. USD/CLP climbed today from 487.85 to 492.50 […]
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January 52011
Great New Year for Dollar as All Fundamentals Look Positive
The beginning of the new year looks good for the dollar as virtually all reports from the US so far showed positive results and today’s reports weren’t different. The reports showed that employment improved and services industries expanded in the US. As a result, EUR/USD dropped heavily from the opening rate of 1.3307 and trades currently near 1.3144. ADP employment change report showed an increase by 297k in December from November increase of 92k (revised from […]
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January 52011
Canadian Dollar Falls with Crude Oil Prices
The Canadian dollar dropped against its US counterpart after crude oil, the main Canada’s export, declined together with other commodities, decreasing attractiveness of the currency. February delivery for crude oil fell down 2.5 percent to $89.23 per barrel. Yesterday it traded at $92.58, the highest level since October 7th, 2008. The stronger US dollar weakened other commodities too, damping demand for the growth-related currencies, including the loonie. […]
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January 52011
Risk Appetite Saps Strength of Swiss Franc
The Swiss franc was little changed after it dropped yesterday as the rally of stocks caused investors to turn their attention from the safe currencies to the higher-yielding ones. The Stoxx Europe 600 Index rose as much as 1.3 percent, while the Swiss equities gained. The franc advanced 8.1 percent in the previous year versus the basket of 10 major currencies amid demand for safety. It looks like now investors began favor risk. […]
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