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Day: May 2, 2011
May 22011
AUD & NZD Falls After Bin Laden’s Death
The Australian and New Zealand currencies were rising on today’s trading session, but dropped sharply after the report about the death of Osama bin Laden. US President Barack Obama said that Al-Qaeda leader Osama bin Laden has been killed by the US forces during the fight outside Islamabad, the capital of Pakistan. The resulting gains of the American stock-index futures spurred the US dollar against commodity currencies. The Standard & Poorâs […]
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May 22011
Dollar Goes Down as Economy Demonstrates Strength
The US dollar extended its fall today as the global economy continues to show robust recovery and on speculations that the Federal Reserve will lag behind other central banks in increasing interest rates. The Dollar Index dropped 0.2 percent from 72.933 on April 29 to 72.764 as of 11:05 in New York today. The Standard & Poor’s 500 Index rose 0.4 percent and the MSCI World Index went up 0.6 percent. The euro […]
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May 22011
EUR/USD Continues to Rise
EUR/USD extended its rally to the levels last seen more than a year ago. Such fast and strong rally causes concern that the strength of the euro may be more disastrous to the European economy than the sovereign debt crisis. The US economic data was encouraging today, especially the unexpected surge of the construction spending. EUR/USD rallied to 1.4894, the highest level since November 2009. ISM PMI was at 60.4% in April, compared […]
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