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Day: March 30, 2011
March 302011
Japanese Yen Falls as Investors Prefer Higher Yielding Assets
The Japanese yen weakened today, falling to the lowest level in almost three week, as the economic growth in the US and across rest of the world makes higher-yielding assets more preferable for investors than safer ones. The report of Automatic Data Processing, Inc. about the employment change today showed the increase by 201,000 in March. The positive report supported the optimistic outlook for the non-farm payrolls later this week. The Standard & Poorâs 500 Index advanced 0.7 […]
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March 302011
Expanding South Korean Economy Increases Appeal of Won
The South Korean won rose today to highest level in almost seven weeks as the inflows of foreign funds help the economy of South Korea, making the nation’s assets more attractive. The Bank of Korea reported that the South Korean gross domestic product advanced 0.5 percent in the fourth quarter of 2010, confirming the previous estimate. The government report this week is expected to show that the inflation accelerated to 4.8 percent in March, the highest level […]
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March 302011
GBP/JPY Rises with Retail Sales & Services
The Great Britain pound climbed today versus the Japanese yen after the reports today showed that Britain’s retail sales and services industries improved, renewing the talks about the possible interest rates hike. The currency also gained against the US dollar, but lost most of its gains by now. The Confederation of British Industry Distributive Trades Survey showed that there were 15 percent more retail traders whose volume […]
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March 302011
EUR/USD Falls on Good US Employment, Attempts to Rebound
EUR/USD fell after the report showed the strong growth of the US employment, yet now the currency pair attempts to regain ground. The ADP report not only increase optimism for the US economy, but also supported the positive outlook for the non-farm payrolls later this week. EUR/USD trades currently at about 1.4091 following the previous drop to 1.4051. ADP employment increased by 201k from February to March on a seasonally adjusted basis. The actual value […]
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March 302011
Aussie Dollar Reaches New Record vs. US Dollar
The Australian dollar decided that its rally doesn’t need to stop and continued its ascent, posting the new record high versus the US dollar. The reason for the rally of the Aussie is the same as for other commodity currencies â the advancing prices for raw materials, caused by the prospect of the economic recovery. Analysts predicted that the factory orders in the US rose 1.1 percent in February. Forecasts also promise the report on April 1 will show that […]
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