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Day: March 29, 2011
March 292011
Trade Surplus Makes New Zealand Dollar Stronger
The New Zealand dollar advanced today after the nation’s traded balance posted a surplus for the first time in eight months as commodity prices continue to advance. The New Zealand trade balance posted the surplus of NZ$194 million in February. The reading was definitely better compared to the January decrease by NZ$3 million, but still somewhat lower than the forecast NZ$238 million. The exports rose $550 million, while the imports increased $684 million. The major […]
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March 292011
South Korean Won Becomes Stronger with Better Global Economy
The South Korean won rose today on the forecast that the influence of the global economic recovery will outweigh the negative impact of the earthquake and the radiation leak in Japan. The Kospi stock index gained 0.8 percent, reaching the highest level since February 7, as the number of investors who bought the Korean stocks exceeded the number of sellers for the ninth consecutive day. The won weakened earlier as the growing level of radiation was detected at the damaged Fukushima Dai-Ichi plant, […]
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March 292011
EUR/JPY Goes Up on Interest Rates Prospects
The euro advanced against the Japanese yen today on the speculation that the European Central Bank will raise the interest rates on its next meeting, while the Bank of Japan will likely keep its rates unchanged. The currency slipped versus the US dollar. The good economic data supports the anticipation of higher interest rates. The consumer spending in France rose 0.9 percent in February, while the inflation in Germany is expected to show strong growth. […]
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March 292011
EUR/USD Fails to Profit from Falling US Consumer Confidence
EUR/USD rallied today at the beginning of the trading session, but later it slumped back to the opening price. The euro attempted to rise again after the negative reports from the US, but failed. The reports were disappointing after yesterday’s good data. The consumer confidence was expected to drop significantly, but it fell even more heavily than expected. The housing prices weakened optimism for the housing market that was caused by the good […]
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March 292011
Economic Recovery Makes Safety Unnecessary, Yen Struggles
The Japanese yen weakened on the previous trading session as the signs of the global economy recovery removed demand for the currency as a safe haven. The yen attempts to regain its strengths at the beginning of today’s session. Analysts forecast that the report of Automatic Data Processing, Inc. will show tomorrow that the non-farm employment in the US increased by 206,000 this month. The jobless claims are expected to decline from 382,000 to 379,000. Europe also has potential to provide […]
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