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Day: May 4, 2011
May 42011
Employment Data from New Zealand Boosts Kiwi
The New Zealand dollar climbed today, reducing its previous losses, after the report demonstrated positive tendencies in the employment of Canada’s citizens. Canadian employers added 30,000 jobs in the first quarter of this year, resulting in the employment growth of 1.4 percent, compared to predicted 0.5 percent. In the previous three months the employment shrank by 0.4 percent. The unemployment rate was reduced to 6.6 percent, while it was expected to remain unchanged at 6.7 […]
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May 42011
Canadian Dollar Falls, Yet Can Regain Strength on Employment
The Canadian dollar tumbled today as the decline of commodities and global stocks diminished appeal of currencies linked to economic growth, yet the Canadian currency may rebound if the employment reports this week would be favorable. The Standard & Poorâs 500 Index fell 0.7 percent and the MSCI World Index of stocks dropped 0.8 percent. Crude oil futures slid 2 percent to $108.81 per barrel in New York. Crude oil […]
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May 42011
EUR/USD Retreats After Rally on Interest Rates Expectations
EUR/USD rose today on speculation that the European Central Bank will raise its main interest rate tomorrow, while the Federal Reserve won’t have courage to scrap its stimulating program. The currency pair surged in the first half of the day, but after 14:00 started a steady decline. Currently the euro struggles to stop this drop. The economic data from the US today was worse that Forex market participants have […]
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May 42011
Will ECB Raise Interest Rates Tomorrow? Euro Bulls Hope So
The euro advanced versus 14 of 16 most traded currencies, including the US dollar, today as euro bulls hope that the European Central Bank will increase its interest rates tomorrow. The euro surged at the beginning of the trading session, but fell by 8:00 GMT. Yet currently the shared European currency is steadily pushing higher. The EUR/USD currency pair reached earlier this weak 1.4901, the highest level since December […]
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May 42011
Lower UK House Prices Make Pound Weaker
The Great Britain pound slipped today after the report showed that the house prices in Britain unexpectedly decreased in April, confirming the weakness of the UK economy. The report by Nationwide showed today that the house prices in Britain dropped 0.2 percent in April, while experts hoped for an increase by 0.3 percent. That leaves the prices 1.3 percent lower than in the same period last year. The poor macroeconomic data reduces incentive for the Bank of England […]
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May 42011
Canadian Dollar Extends Decline as Global Stocks Goes Down
Canada’s ruling party won majority in the Parliament, increasing confidence in the ability of Canada’s economy to sustain its growth, but that didn’t helped the Canadian dollar as the decline of global stocks outweighed the positive news. The ruling Conservative Party won majority in the Canadian Parliament, ending seven years of minority governments. Party leader and Canada’s Prime Minister Stephen Harper promised to fix the imbalances of Canada’s economy, even though he plans tax […]
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May 42011
Franc Goes Higher While Stocks & Commodities Fall
The Swiss franc profited from the decline of equities and commodities and gained against all other major currencies, bolstered by demand from Forex market participants for a safe haven. The Standard & Poorâs 500 Index fell 0.2 percent, following the previous 0.5 percent drop. The Reuters/Jefferies CRB Index of raw materials fell 0.3 percent. June futures for crude oil delivery lost 0.9 percent and traded at $112.56 per barrel. The question […]
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