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Day: May 13, 2011
May 132011
Dollar Goes Higher as Stocks Falls Down on European Debt
The US dollar gained today against all most-traded currencies, except the yen, as equities declined because of the persisting concern about the European credit crisis. Die Welt claimed that Germany insisted on restructuring of Greece’s debt. Spokesman Christoph Steegmans said in an interview that the German government has “no knowledge” about about the plans for restructuring of the Greek debt. The Standard & Poorâs 500 Index of stocks slipped 0.8 percent. The Thomson […]
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May 132011
Canadian Dollar Falls with Crude & Stocks
The Canadian dollar fell today, sliding for the third day versus the US dollar and the Japanese yen, as crude oil fell together with North American equities. June contract for crude oil delivery subtracted 0.3 percent to $97.95 per barrel in New York, following the previous advance by 1.8 percent. Prices have increased 1.5 percent this week, but this increase looks meager compared to the decline by 15 percent last […]
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May 132011
US Consumer Sentiment Improves, EUR/USD Erases Gains
EUR/USD surged today on the positive economic data from Europe, but quickly lost its gains. The US economy also showed robust growth as the reports about inflation and consumer sentiment indicated. EUR/USD trades now at 1.4193, following the jump from 1.4244 to 1.4340. US CPI rose 0.4% in April on a seasonally adjusted basis, proving forecasts correct. The growth in March was at a 0.5% rate. (Event A on the chart.) Preliminary Michigan Sentiment […]
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May 132011
Euro Recovers as German & French GDP Surge
The euro rebounded versus the US dollar today after the reports showed that the growth of the German and French economies sharply accelerated in the first quarter. France’s GDP rose 1.0 percent in the first quarter of 2011, compared to the forecast of 0.6 percent. Germany’s GDP surged 1.5 percent in Q1 of this year, while analysts counted on growth by 0.9 percent. It’s good to see that Europe’s bigger economies performs better, but such […]
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May 132011
Yen Gains as Demand for Safety Surges After Pakistan Bombing
The Japanese yen jumped today after bombers killed at least 73 people in Pakistan, supposedly in response to the death of Osama bin Laden. Ghufran Ali, a police official in Charsadda, reported that 15 buses carrying the newly graduated members of Pakistanâs Frontier Constabulary, a paramilitary force, who were going home after a May 11 ceremony was targeted by the bombing. The Tehreek-e-Taliban group announced that this attack was the first act […]
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