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Day: March 25, 2011
March 252011
Canadian Dollar Gains vs. Euro, Loses vs. Dollar
The Canadian dollar dropped versus its US counterpart as the economy of the US continued to show a robust economic growth. The loonie gained against the euro as the European Union summit hasn’t eased the concern about Europe’s debt problem. The US gross domestic product increased at the annual rate of 3.1 percent in the fourth quarter of the last year, according to the final estimate released by the Bureau of Economic Analysis. In the third quarter of 2010, the US economy expanded 2.6 […]
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March 252011
Euro Slips as Bailout Funds are Cut
The euro dropped today from the highest level in four months after the European Union leaders decreased the startup capital for future bailouts. The decrease of the startup capital for a future aid fueled worries that the EU won’t be able to resolve its sovereign-debt problems. German Chancellor Angela Merkel expects that it’ll take years for the shared European currency to recover from the “sins of the past”. EUR/USD fell from 1.4171 to 1.4137 as of 13:36 […]
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March 252011
Swiss Franc Depreciates as Global Economy Looks Good
The Swiss franc dropped today on the speculation that the global economic growth will offset the influence of the European sovereign-debt issues and the crisis in Japan. The two-daysummit of the European Union leaders is nearing to conclusion today and is expected to bring some relief to the troubles of the EU smaller economies. The resolution of the debt crisis will be much welcomed after Standard & Poorâs downgraded Portugal’s credit rating yesterday. USD/CHF advanced from 0.9081 to 0.9136 […]
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March 252011
EUR/USD Falls After EU Summit & Portugal’s Downgrade
EUR/USD reversed its upward trend today as the European Union leaders cut the startup bailout fund and Portugal’s credit rating was downgraded by Standard & Poor’s yesterday. The US gross domestic product showed a solid economic growth, but the consumer sentiment posted a sharp drop. EUR/USD trades currently at 1.4113. GDP increased at an annual rate of 3.1% in the fourth quarter of 2010, according to the final estimate. The median forecast was 3.0%. […]
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March 252011
Aussie Gains as Stocks Rallies
The Australian dollar strengthened against its major counterparts after stocks and commodities rallied and the measure of price volatility fell. The Chicago Board Options Exchange Volatility Index, or VIX, dropped 6.1 percent to 18 yesterday, posting the biggest decline over the same number of days in 28 months. The VIX has lost 39 percent since March 16. The Asian stocks advanced on the anticipation of a faster economic growth in the region. The Australian dollar, nicknamed […]
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