Day: January 18, 2011

January 18
2011

CAD Drops Following BoC Decision to Leave Rate at 1%

The Bank of Canada left the overnight interest unchanged and stated its opinion on the possibility of future rate hikes, sending the Canadian dollar straight south against all other major currencies today. The loonie declined even against the US dollar, which is experiencing a rather bad day as of now. The CAD has been bullish before the rate decision was released by the BoC. While the market participants expected that the overnight rate target […]

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January 18
2011

Pound Up on Accelerated Inflation

The Great Britain pound rose against all other major currencies (except euro) today, as the December inflation in United Kingdom surged above the expectations. UK Office of National Statistics reported the consumer price index at 3.7 percent for December 2010 — above 3.3 percent November reading and 3.4 percent forecast by the major economists surveyed by Bloomberg. The value is also above the Bank of England target of 3 percent. Such inflation level […]

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January 18
2011

EUR/USD Rallies on Better US Fundamentals and New from EZ

The US dollar dropped against the euro today. It was falling during the early trading session but it declined even farther when the macroeconomic reports were released in the United States. The euro also benefited from the good news from Eurozone suggesting that the financial authorities will strengthen their counteraction against the debt turmoil. EUR/USD is now trading near 1.3439. NY Empire State manufacturing index […]

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