Day: March 7, 2011

March 7
2011

Gains of Japanese Yen on Decline of Stocks & Commodities

The Japanese yen strengthened today as stocks declined and commodities retreated, increasing demand for the currency as a safe haven. The Standard & Poor’s 500 Index declined 0.7 percent, while the Reuters/Jefferies CRB Index of 19 raw materials was little changed after rising 1.1 percent. Crude oil traded at $105.48 per barrel after it gained earlier as much as 2.4 percent. The heated situation in Libya continues to cause concern and uncertainty […]

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March 7
2011

New Zealand Dollar Reaches 18-Year Low vs. Australian Currency

The New Zealand dollar reached today the lowest level since 1992 against its Australian counterpart as the stocks declined and New Zealand Prime Minister upheld his previous opinion about the necessity of an interest rates cut. The currency advanced versus the US dollar. The MSCI Asia Pacific Index of regional shares declined 1.1 percent. The costs of the February 22 earthquake in Christchurch to New Zealand’s economy may exceed three times the estimated […]

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March 7
2011

Euro Fluctuates After Moody’s Cuts Greece’s Rating

The euro rebounded after it previously declined today versus the US dollar as Moody’s Investors Service downgraded Greece’s government debt, refueling the concern about Europe’s sovereign debt. Moody’s downgraded Greece’s debt from Ba1 to B1 and put the outlook to negative. The downgrade has brought the theme of the European debt again to the attention of market participants, causing the speculation that the European leaders will argue among themselves about the best way […]

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