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Day: April 7, 2011
April 72011
Yen Climbs After Another Earthquake, Rates Stays Unchanged
The Japanese yen rose today on the speculation that demand from investors will shift to safe currencies from higher-yielding ones after Japan was hit by another earthquake. Today Japan experienced yet another earthquake. The 7.1-magnitude tremor is the strongest since the earthquake on March 11 and caused the tsunami warning. Tokyo Electric Power Co. reported that the new earthquake hasn’t influenced the Fukushima nuclear power plant that was […]
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April 72011
Euro Falls Even as ECB Raises Interest Rates
The euro fell today as the news that Portugal will seek a bailout overshadowed the expected increase of the interest rates by the European Central Bank. ECB President Jean-Claude Trichet was giving hints about possible rates hike for a long time, but not everybody believed him as the state of the peripheral economies of the European Union wasn’t supportive for such move. Nonetheless, the ECB raised its minimum bid rate from 1 percent to 1.25 […]
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April 72011
BOE Keeps Rates Unchanged, Weakens Pound
The Great Britain pound slipped today after the Bank of England decided to keep the interest rates and the assets-purchase program unchanged. Britain’s central bank held its official Bank Rate unchanged at 0.5 percent. Such move was expected by Forex market participants. Some economists say that an increase of the rates in May or June is possible. GBP/USD fell from 1.6329 to the intraday low of 1.6262 today and traded near 1.6312 as of 12:11 […]
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April 72011
Good Employment in Australia Increases Demand Aussie
The Australian dollar hit yet another record against the US currency today as the report about the employment in Australia was better than anticipated. According to the Australian Bureau of Statistics, Australian employers added 37,800 jobs in March, compared to the predicted value of 22,700. This advance followed the decline by 8,600 jobs in February. The unemployment rate went down to 4.9 percent, while it was expected to stay at 5.0 percent. AUD/USD went up […]
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April 72011
EUR/USD Recovers, Still Remains Week
EUR/USD slumped earlier this trading session and now gradually recovers. The euro was boosted as the European Central Bank raised its target lending rate by 25 basis points to 1.25% (Event A on the chart.), but the impact of the rates hike was muted as Portugal joined Greece and Ireland in seeking a bailout. EUR/USD trades now at 1.4306 after falling earlier as low as 1.4243. Initial jobless claims from 392k to 382k last week, […]
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April 72011
Swiss Franc Boosted by Surge of Inflation
The Swiss franc jumped against 14 of 16 most-traded currencies after the report showed that the rate of inflation growth in Switzerland unexpectedly increased in March. The Federal Statistical Office reported the consumer prices grew 0.6 percent in March instead of expected 0.2 percent, following the advance by 0.4 percent in February. The report by SECO on April 8 is expected to show that the unemployment rate in Switzerland decrease slightly. Swiss National Bank board […]
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