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Day: March 23, 2011
March 232011
Pound Weakens on Minutes of BOE Meeting
The Great Britain pound declined today after the minutes of the Bank of England meeting showed that the policy makers prefer to keep the interest rates unchanged. The minutes showed that six of nine members of the Monetary Policy Committee favor unchanged interest rates, while market participants hoped that the number of voters for higher rates would increase since last meeting. The minutes said: Overall, the uncertainty created by both developments in the oil market […]
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March 232011
EUR/USD Reverses Decline as Retail Sales Drop
EUR/USD extended its decline for the second day today, but later reversed the trend and currently the currency pair rises. The unexpectedly big decline of the US new home sales possibly contributed to the weakening of the dollar. EUR/USD trades at 1.4137 now. New home sales in the US decreased to 250k (seasonally adjusted) in February the revised January rate of 301k. The reading was a way below the market expectations of 291k. (Event A on the chart.) Crude oil inventories […]
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March 232011
Swiss Franc Gains as Radiation Leaks Out of Japan’s Nuclear Plant
The Swiss franc advanced today as the heightened concern about the radiation leak from the damaged nuclear plant in Japan spurred demand for safer assets among investors. The tap water in Tokyo has the amount of iodine unsafe for infants, while the tests showed the radiation contamination of sea water and some food. Prime Minister Naoto Kan ordered today to stop the milk and parsley shipments from the prefecture between Fukushima, where the damaged nuclear plant […]
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March 232011
Canadian Dollar Knocked Down by Retail Sales
The Canadian dollar weakened against its US peer as the report showed that the retail sales in Canada unexpectedly decreased for the second month. The Canadian retail sales decreased 0.3 percent in January, posting the second decline in two months. Analysts predicted growth by 1.1 percent. The main contributor to the decline was the lower sales at new car dealers. The Standard & Poorâs 500 Index dropped 0.4 percent. On the positive note, the composite leading […]
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