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Day: March 4, 2011
March 42011
Dollar Falls Despite Good Employment Numbers
The positive reports about the employment in the US weren’t been able to boost the dollar strong enough to help it to appreciate against other currencies. The good US economic data slowed the rally of the euro, but didn’t manage to reverse the upward momentum of the European currency. The non-farm payrolls grew by 192,000 in February, much better number compared with the previous month’s reading of 63,000 (revised up from 36,000). The payrolls were in line […]
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March 42011
Sterling Drops on Falling House Price
The Great Britain pound extended its losses versus the US dollar and the euro today after the report showed that the house prices in Britain decline more than forecast last month. The House Price Index of the Halifax Bank of Scotland declined 0.9 percent in February, offsetting the January’s gain by 0.8 percent. Some economists, including Chris Huddleston, the trader at Investec Bank Plc, think that this downward move of the sterling was […]
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March 42011
South Korean Won Rally with Other Asian Currencies
The Asian currencies, including the South Korean won, jumped today on the speculation that the policy makers won’t intervene to prevent gains. The Bloomberg-JPMorgan Asia Dollar Index rose 0.5 percent this week. The policy makers in Malaysia, Thailand and South Korea will make the decision about the interest rates next week. USD/KRW dropped from 1,116.00 to 1,113.95 as of 11:56 GMT today, following advance to 1,117.85. If you have any questions, comments […]
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March 42011
Euro Advances vs. Dollar in Spite of Good US Nonfarm Payrolls
Today we had a couple of positive reports from the US, yet the euro continued to rise versus the dollar. The optimistic predictions about the nonfarm payrolls proved true and the unemployment rate declined, even though it was expected to increase. The European currency showed signs of weakness after the release of the reports. EUR/USD trades now at 1.3983. Nonfarm payrolls increased by 192k in February, compared to the January increase by 63k (revised up from 36k). […]
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March 42011
Aussie Declines vs. Greenback & Euro
The Australian dollar fell against its US counterpart as the employment in the US improved. The currency also slipped versus the euro on the speculation that the European Central Bank will increase the interest rates before the Reserve Bank of Australia. ECB President Jean-Claude Trichet signaled that the central bank is ready to raise the interest rates. At the same time it doesn’t look like the RBA is ready to do the same. The International Monetary Fund […]
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March 42011
Dollar Rises vs. Pound & Yen on Improving Labor Market
The US dollar strengthened versus the Great Britain pound and the Japanese yen as the macroeconomic reports showed that the US jobs market improved, causing optimism about the future of the US economy. The currency retreated against the euro. The non-farm employment change, according to the estimate of Automatic Data Processing Inc. released on March 2, posted the increase by 217,000 from January to February on a seasonally adjusted basis. The estimated change of employment from December to January was […]
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