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Day: April 14, 2011
April 142011
Pound Gains as UK Consumer Confidence Improves
The Great Britain pound jumped today after the report showed the improvement of the UK consumers’ confidence, encouraging analysts to talk about a possible increase of the lending rates by the nation’s central bank. The Nationwide report about Britain’s consumer confidence showed that the confidence index increased from 39 in February to 44 in March. That’s compared to the median forecast of 40. The report said that the consumers’ “assessments of their present situation remain subdued”. Bets […]
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April 142011
CAD Goes Lower on Europe’s Woes, Recovers vs. USD
The Canadian dollar fell today as concerns about the sovereign-debt crisis in Europe sapped demand from growth-related currencies. The loonie erased its losses versus the US dollar. Worries about Europe’s debt crisis intensified after Germany’s Finance Minister talked about restructuring of the Greek debt. Blake Jespersen, a director of foreign exchange at Bank of Montreal, explained: Risk is just coming off, mostly due to Europe. All of a sudden the market […]
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April 142011
Dollar Falls on Forecast Fed Lag Behind ECB
The US dollar fell against most major currencies today on the speculation that the Federal Reserve will lag behind the European Central Bank in increasing its borrowing costs as the US economy isn’t recovering fast enough to warrant higher rates. Today’s macroeconomic reports supported such outlook. The unemployment claims in the US rose from 385,000 to 412,000 last week, while they were expected to drop to 379,000. The Producer Price Index […]
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April 142011
EUR/USD Falls on Debt Concerns
The euro fell versus the US dollar today on concerns that Greece and other indebted nation of the European Union will be required to restructure their debt. The currency pair somewhat recovered after the economic reports from the US were worse than predicted. Germany’s Finance Minister Wolfgang Schaeuble said that Greece may be required to restructure its debt if the audit in June would show the nation’s inability to repay […]
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April 142011
EUR/USD Recovers as Jobless Claims Climbs, PPI Growth Slows
EUR/USD fell today as Greece and other indebted nations of European Union may be required to restructure their debt, but the currency pair currently recovers as the US economic data was worse than expected. The jobless claims unexpectedly rose last week, while PPI grew less than predicted. EUR/USD trades at 1.4425 now, recovering from the intraday low of 1.4364. PPI rose 0.7% in March, seasonally adjusted, following […]
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April 142011
Australia’s Dollar Falls on Asia’s Stocks & Europe’s Problems
The Australian dollar slipped today against most major currencies on concerns about the European sovereign issues and as the Asian stocks fell after Singapore signaled about possible tightening. The Monetary Authority of Singapore stated in its Monetary Policy Statement the “policy will ensure price stability in the medium term while keeping growth on a sustainable path”. The government will allow faster appreciation of the nation’s currency but the trading band will be kept […]
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