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Day: March 22, 2011
March 222011
Pound Gains as Inflation Accelerates
The Great Britain pound jumped today to the highest price in more than a year after the report showed that the inflation in the UK accelerated last month more than was anticipated. Britain’s annual inflation was 4.4 percent in February, up from 4.0 percent in January. That’s compared to the analysts’ estimate of 4.2 percent and the central bank’s target of 2 percent. The rising inflation renewed talks about the possible interest rates hike […]
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March 222011
Euro Rises as Traders Await Interest Rates Hike by ECB
The euro reached the highest level in five months against the US dollar today on the speculation that the European Central Bank will raise the interest rates on the next meeting of its policy makers. The currency currently retreated closer to the opening level. Both European Central Bank Executive Board member Gertrude Tumpel-Gugerell and Governing Council member Yves Mersch spoke yesterday about the necessity to contain the inflation. Jeremy Stretch, executive director of foreign-exchange […]
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March 222011
EUR/USD Down After Reaching Five-Month High
EUR/USD jumped today to the highest level since November 4, but later declined. Currently the currency pair regained some of its strength after the report about slower growth of manufacturing in the US. EUR/USD trades at 1.4186 after jumping to the intraday high of 1.4248. Richmond Fed manufacturing index fell from 20 to 25 in March, compared to the decline to 23 anticipated by market participants. (Event A on the chart.) Yesterday, a report on existing home sales […]
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March 222011
Australian Dollar Falls as Oil Rises
The Australian dollar ended its rally against the yen today on the concern that the jump of oil prices will derail the global economic recovery. The Australian currency, often called the Aussies, rose earlier as concerns about radiation threat in Japan eased and on the speculation that Libya’s leader Muammar al-Gaddafi will talk with the rebels to attempt a peaceful resolution of the conflict. The air strike at Libya by the coalition forces scrapped the optimism about the situation in Libya […]
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March 222011
Canadian Dollar Gains as Crude Oil Rises
The Canadian dollar went up as the renewed concern that the tensions in Libya, as well as in the other countries of the region, will disrupt supplies of crude oil bolstered the commodity. The allied air strikes in Libya can prevent the country from exporting oil. April delivery for crude rose as much as 2.3 percent to $103.35 per barrel in New York. Crude oil is the main Canadian export. The Canadian currency also rallied against the Japanese yen […]
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