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Day: May 17, 2011
May 172011
UK Consumer Prices Boosts Interest Rates Outlook & Pound
The Great Britain pound jumped today as the inflation in Britain accelerated more than was anticipated, renewing talks about possible increase of the interest rates by the Bank of England. The consumer prices index grew 4.5 percent in April, following the 4.0 percent increase in March. Economists predicted an increase by 4.2 percent. The sterling retreated after surging on the report, but currently regained some of its strength. Does the growing inflation mean that the BoE […]
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May 172011
Chilean Peso Falls as US Economy Reduce Risk Appetite
The Chilean peso fell today as the economic data suggested that the US economy is slowing, therefore reducing demand from investors for higher-yielding, but riskier, currencies. The economic report showed that the US housing market and manufacturing industry slowed last month. The global economy also doesn’t provide reasons for optimism. The Thomson Reuters/Jefferies CRB Index of raw materials fell for the third consecutive session. Stocks also declined. USD/CLP rose […]
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May 172011
South African Rand Erases Gains on Inflation & Retail Sales
The South African rand pared its gains today after the reports showed that inflation grew less than predicted and retail sales decreased. The consumer prices in South Africa grew 4.3 percent in April, while forecasts promised growth by 4.4 percent. The retail sales slowed for the third straight month. The macroeconomic data, together with the decline of commodities and decreasing demand for higher-yielding currencies, creates a very unhealthy environment for the South African […]
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May 172011
US Economy Slows in April, EUR/USD Goes Up and Down
EUR/USD advanced today and failed later, then rose again only to drop even lower. Currently the euro attempts to climb again, but without any significant success so far. The economic reports today extended yesterday’s tendency to disappoint Forex market participants (at least those who bet on dollar’s strength) as the data confirmed that the US economy performed in April worse than in March. EUR/USD currently trades near 1.4173, […]
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May 172011
Pound Weakens Ahead of Macroeconomic Reports
The Great Britain pound fell as speculators cut their bets on an interest rates hike by the UK central bank, but the currency attempts to pare its losses as the economic data is expected to show that inflation has accelerated. The report from Office for National Statistics on the consumer prices is expected to show an increase by 4.2 percent in April, following the 4.0 percent advance in March. Home prices jumped to the highest level since 2008 […]
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