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Day: February 10, 2011
February 102011
Loonie Moves in Tandem with Greenback
The Canadian dollar fell against its US counterpart, but advanced versus most other actively traded currencies, as the economic recovery in North America increased the attractiveness of the currency for the investors. The report of Canada Mortgage and Housing Corporation this week said that the seasonally adjusted annual rate of housing starts was 170,400 units in January. This is up from 169,000 units in December. Today’s report of Statistics Canada showed that […]
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February 102011
US Dollar Gains as Unemployment Claims Decline
The US dollar strengthened against most of its major counterpart after the report showed today that the number of unemployment claims in the US dropped significantly last week, despite Federal Reserve Chairman Ben Bernanke’ prediction of higher unemployment. Bernanke said in his testimony yesterday: Notable declines in the unemployment rate in December and January, together with improvement in indicators of job openings and firms’ hiring plans, do provide some grounds for optimism […]
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February 102011
Australian Dollar Drops with Decrease of Full-Time Employment
The Australian dollar declined today after the report showed that full-time employment of the Australians decreased in January, causing the speculation that Australia’s economy doesn’t grow fast enough to warrant an increase of the interest rates. Australian Bureau of Statistics reported today that the full-time employment decreased 8,000 to 8,022,400 in January. The report wasn’t completely negative, though, as the increase of the part-time employment caused the overall employment to increase by 24,000. AUD/USD declined today from […]
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February 102011
GBP Falls vs. USD, Rises vs. EUR As BOE Keeps Policy Unchanged
The Great Britain pound strengthened against the euro and fell versus the US dollar after the Bank of England decided today to leave the interest rates and its program of asset purchases unchanged today. The Bank of Englandâs Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. […]
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February 102011
EUR/USD Falls on Lower Jobless Claims & Budget Deficit
EUR/USD fell today as the report about the US jobless claims didn’t support the prediction of Federal Reserve Chairman Ben Bernanke that unemployment will remain elevated. The budget deficit also showed a pleasant surprise, decreasing much more than analysts expected. EUR/USD trades currently at 1.3599. Initial jobless claims decreased to 383k last week from the previous week’s revised figure of 419k. The decrease was bigger than the expected […]
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