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Day: April 15, 2011
April 152011
CAD Rives vs. USD & EUR on Rally of Commodities, Falls vs. JPY
The Canadian dollar advanced versus the US dollar and the euro after crude oil gained. The currency fell against the Japanese yen on prospect of increasing tightening in China. The good economic reports from the US today allowed commodities, including crude oil, to rally today. Contract for crude oil delivery gained as much as 1.6 percent to $109.66 per barrel in New York, following the decline by 0.8 percent. Raw materials, including crude, make […]
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April 152011
Aussie Weakens on China’s Rates Outlook
The Australian dollar dropped today versus the euro and fluctuated against the US currency on the speculation that China will increase its interest rates to rein the rapid growth of the economy. The inflation, that grew 5.4 percent in March, may encourage China to increase the reserve for banks as early as today. China’s economy expanded 9.7 percent last quarter, compared to the average forecast of 9.4 percent. The MSCI Asia Pacific Index of shares slipped 0.6 […]
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April 152011
Euro Drops as Moody’s Cuts Ireland’s Credit Rating
The euro went down today after Moodyâs Investors Service downgraded Ireland’s credit rating, fueling worries that debt problems will cripple the peripheral economies of the European Union. Moody’s lowered Ireland’s rating by two notches from Baa1 to Baa3, one notch above the so-called “junk” status. The reasons for the downgrade were the weaker economy of the nation and the rising borrowing costs. Standard & Poor’s said that Greece would face […]
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April 152011
EUR/USD Falls as Moody’s Downgrades Ireland’s Credit Rating
EUR/USD was tumbling today, but now has found support and tries to decide where to go next. The euro was hurt as Moody’s Investor Service cut Ireland’s credit rating and kept the outlook on negative. Today’s reports from the US showed robust growth of the industrial output and the manufacturing, as well as the unexpectedly strong improvement of the consumer sentiment. EUR/USD trades now at 1.4434. CPI grew 0.5% in March, in line with forecasts. In February […]
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