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Day: February 17, 2011
February 172011
US Dollar Falls as Unemployment Claims Rise
The US dollar weakened today against most other major currencies after the reports showed that the number of the unemployment claims in the US rose and the leading indicators increased less than was predicted. Analysts predicted that the claims for the unemployment benefits would increase from 385,000 to 401,000 in the previous week. The actual reading was higher than the prediction â 410,000. The Leading Index of the Conference Board Inc. posted the growth by 0.1 percent […]
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February 172011
Pound Rebounds as Sentance Insists on Rising Interest Rates
The Great Britain pound strengthened against the US dollar and the euro today after Bank of England policy maker Andrew Sentance explained in his today speech the necessity of raising the interest rates. In his speech at the Institute of Economic Affairs 2011 State of the Economy conference today Sentance said: One of the benefits which we might see from a policy of raising interest rates is a modest appreciation of sterling, which would mitigate the impact […]
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February 172011
Franc Gains as Unrest in Middle East Spurs Demand for Safety
The Swiss franc gained today, strengthening versus the US dollar for the fourth day and rising against other most-traded currencies, as the worries that the tensions will spread across the Middle East spurred demand for the safe currencies. The demonstrators in Bahrain demand resignation of Prime Minister Sheikh Khalifa bin Salman al-Khalifa, protesting for the third day. The protests have left at least three people dead. The people are also protesting in Yemen and Libya. USD/CHF […]
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February 172011
EUR/USD Rises on Jobless Claims & Leading Indicators
EUR/USD advanced today for the second day as the unemployment claims rose and the leading indicators grew less than predicted in the US. On the bright side, the report about the business activity was very optimistic. The currency pair was slowly declining throughout the day, but began to rise after the reports. EUR/USD trades now at 1.3598. Initial jobless claims increased to was 410k last week from the previous week’s revised figure of 385k. Forecast […]
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