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Day: February 24, 2011
February 242011
Swiss Franc Rise to Record as Traders Shun Risk
The Swiss franc rallied to the record against the US dollar as the attempts of Libyan leader Muammar al-Gaddafi caused traders to avoid risk. The Swiss franc is considered to be a safe currency, attractive in times of uncertainties, and the conflicts in Libya and other countries of the region bring a lot of uncertainty on the markets. The MSCI World Index of shares fell 0.2 percent and the Stoxx Europe 600 Index dropped 0.6 percent. Futures on crude oil climbed to $119.79 per […]
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February 242011
Rally of Oil Bolsters Russian Ruble
The Russian ruble advanced today as oil rallied to the highest level in 30 months on the concerns about supplies from Africa and Middle East. Brent crude oil, the largest export revenue earner of Russia, jumped as much as 7.7 percent to $119.79 per barrel, the highest level since August 2008, on the concerns that the conflict in Libya, Africaâs third largest producer, will reduce supplies. Oil has risen 24 percent this year […]
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February 242011
EUR/USD Advances as ECB May Raise Interest Rates Before Fed
EUR/USD rose today for the second day on the speculation that the European Central Bank will raise the interest rates before the Federal Reserve. The currency pair also advanced on the speculation that the high oil prices can bolster the euro. The euro advanced sharply versus the dollar in the first half of the day, but later the rally stalled. EUR/USD currently trades near 1.3788. Initial jobless claims decreased to 391k from the previous week’s revised […]
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February 242011
Rand Strengthens as Government Won’t Intervene
The South African rand advanced as the South African officials said that they’re not planning a particular rate of exchange for the currency and are more worried about a depreciation than about an appreciation. Central bank’s Governor Gill Marcus said: The objective for us is to address the volatility of the currency and we do not target a particular rate of exchange. Finance Minister Pravin Gordhan said that a sharp depreciation of the nation’s currency can spur […]
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February 242011
Aussie Gains as Australian Economy Improves
The Australian dollar rose today against 15 of 16 most-traded currencies as the reports showed that the private capital expenditures increase and the leading indicators rose in December. The seasonally adjusted capital expenditure rose 1.3 percent in the last quarter of 2010. The growth was slower than in the previous quarter because of the impact of the flooding in Queensland. The Conference Board Leading Economic Index increased 0.7 percent in December. That’s compared to 0.2 percent in November. The good […]
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