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Day: April 12, 2011
April 122011
US Dollar Weakens as Trade Deficit Remains Above Forecasts
The US dollar slipped today versus the euro and the yen after the report showed that the US traded balance deficit shrank less than was predicted by analysts. Forecasts were also too optimistic about the federal budget as today’s report showed. The US trade balance narrowed from $47.0 billion in January to $45.8 billion in February. Median forecast promised the deficit to decline to $44.1 billion. The deficit of the federal budget went from […]
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April 122011
Swedish Krona Fell as Inflation Pressure Recedes
The Swedish krone declined today as the inflation pressure weakened, reducing need for the central bank to increase the interest rates. Statistics Sweden reported today that the annual inflation adjusted for mortgage costs was 1.5 percent in March, compared with the forecast of 1.7 percent. The Riksbank has raised its main interest rate five times since July to prevent the nation’s rapidly growing economy from overheating, yet now the slower inflation […]
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April 122011
Swiss Franc Gains on Japan’s Woes
The Swiss franc strengthened today, rising for the fifth straight day against the US currency, after Japan was hit by another earthquake and on the speculation that the damage nuclear plant will release more radiation that Chernobyl power plant. The nuclear power plant in Fukushima prefecture was damaged by earthquake on March 11, causing the radiation leak. Another earthquake of 6.3-magnitude hasn’t improved the situation. Japanâs Nuclear and Industrial Safety Agency raised […]
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April 122011
EUR/USD Rises as US Trade Balance Deficit Exceeds Forecasts
EUR/USD rose today, following yesterday drop. The currency pair weakened somewhat a few hours ago, but now regained its strength. The deficit of both trade balance and federal balance decreased, even though it was still above forecasts. EUR/USD currently trades at about 1.4487. US trade balance posted a deficit of $45.8 billion in February. The reading was worse that the average forecast of $44.1 billion deficit, even […]
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April 122011
Canadian Dollar Weakens Before BOC Meeting
The Canadian dollar fell today before the meeting of the Bank of Canada policy makers as the central bank is expected to keep the interest rates unchanged and after commodities retreated. The BoC will keep its overnight rates unchanged at 1 percent, according to forecast of analysts. Canada was first country among the Group of Seven to raise the interest rates and was raising the rates for some time, but now Canada’s economy doesn’t look healthy […]
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