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Day: March 24, 2011
March 242011
Loonie Rallies as Commodities, Oil Advances
The Canadian dollar gained today, erasing its losses against the US dollar, as commodities rallied and crude oil, the key export of Canada, advanced to the highest level in more than two years, attracting investors to Canada’s assets. May delivery for crude oil gained 0.9 percent to $106.69 per barrel in New York before trading at $105.17. The commodity has advanced 8.5 percent so far this month. April futures for gold […]
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March 242011
Sterling Goes Down with Retail Sales
The Great Britain pound fell as the report today showed that the retail sales in the UK declined in February more than predicted was predicted by economists. The total volume of the sales decreased by 0.8 percent between January and February, according to the report of the National Statistics. The decline was both in the predominantly food stores and in the predominantly non-food stores. The expected decrease was 0.5 percent. GBP/USD fell from 1.6241 to 1.6163 today as of 16:03 GMT. If you […]
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March 242011
Euro Rises vs. Dollar as EU Summit Begins, ECB Rates Hike Expected
The euro advanced against the US dollar today after the leaders of the European Union began their two day meeting in Brussels to discuss the way out of the debt crisis. Traders hope that EU leaders will find solution to Europe’s issues at the two-day summit, increasing bets that the European Central Bank will increase the interest rates. The euro weakened earlier as Moodyâs Investors Service downgraded the ratings of 30 Spanish banks and Portugalâs […]
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March 242011
EUR/USD Rises as EU Summit Begins
EUR/USD reversed its two-day decline and advanced today as the two-day summit of the European Union leaders has begun today at Brussels. The summit is expected to provide some resolution to the debt problems of the European peripheral economies. The unexpected decline of the durable goods orders could’ve also helped the currency pair to advance, but the decreasing unemployment claims may limit gains. EUR/USD trades now at 1.4131. Initial jobless claims dropped to 382k last […]
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March 242011
New Zealand Dollar Rises as Economy Expands
The New Zealand dollar advanced after the report showed that the nation’s economy grew more than expected in the last quarter of 2010. Statistics New Zealand reported that New Zealand’s gross domestic product expanded 0.2 percent in the fourth quarter of 2010. Analysts expected an increase by 0.1 percent. The economy shrank 0.2 percent the third quarter of the last year. The report said that the largest increases were in the manufacturing and the real estate […]
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