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Day: March 9, 2011
March 92011
Trade Balance Deficit Shrinks — Sterling Gains
The Great Britain pound advanced today, erasing yesterday’s losses versus the US dollar, as the report showed that the increasing exports made the deficit of the UK trade balance lower than was predicted. The UK deficit of trade balance narrowed to £7.1 billion in January, compared with the deficit of £9.7 billion in December (originally published as the deficit of £9.2 billion). The higher deficit of £8.5 billion was expected. The deficit shrank as the exports rose by £1.3 […]
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March 92011
Libyan Uprising and Higher Oil Prices Aid Swiss Franc
The Swiss franc strengthened today as the conflict in Libya continues, disrupting oil supplies and endangering the world economy. The investors again seek safety under such conditions. The forces loyal to Libya’s Leader Muammar al-Gaddafi performed the air and artillery strikes on the central oil ports to stop the advance of rebels along the coast. At the same time the Gaddafi forces attack towns in the west that have revolted. Crude oil rose 0.9 percent in New York […]
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March 92011
Yen Weakens as Global Economy Grows
The Japanese yen fell today as the signs of the global economic recovery and the declining prices for oil decreased demand for the currency as a safe haven. The German industrial output increased 1.8 percent in January, following the decline by 0.6 percent in December, exactly as was predicted. The economies of Japan and the US are also showing signs of growth. The sign of recovery together with the fall of oil prices made the future of the global economy to look less grim, making traders […]
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March 92011
EUR/USD Flat After Violent Swings
EUR/USD showed violent swings today, yet currently it trades almost unchanged from the opening level. This day, as the whole week, is relatively poor on macroeconomic reports. Tomorrow we’ll have the report on the trade balance, but it’s not expected to show a great change. EUR/USD trades near it opening level of 1.3903 now. Wholesale inventories were up 1.1% in January from the revised December rise of 1.3%. […]
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March 92011
Korean Won Rises as Crude Oil Retreats from Record
The South Korean won gained today as the prices for crude oil went down from the highest level in 29 months, easing concern about impact of fuel prices on the global economy. The prices for crude oil went down 0.7 percent to $104.24 per barrel in New York as the members of the Organization of Petroleum Exporting Countries may increase production to offset the impact of the conflict in Libya on supply of crude. Analysts think that the Bank of Korea may […]
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