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Day: May 19, 2011
May 192011
Rand Erases Losses, But Can It Continue Go Higher?
The South African rand erased today’s loses versus the US dollar and continue to rise for the fourth straight session as consumer inflation accelerated. South Africa’s consumer prices grew 4.2 percent in April, following the 4.1 percent increase in March. The rand is threatened by declining commodity prices, though, as the major economies across the world show signs of weakness. Gold and platinum, the major sources of the nation’s export revenue, dropped, while copper retreated […]
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May 192011
Swiss Franc Goes Lower with Economic Expectations
The Swiss franc weakened today as the economic expectations for the Swiss economy deteriorated, making Switzerland’s “safe” currency look less safe. The ZEW Economic Expectations indicator dropped sharply in May, falling from the April value of 8.8 to -11.5 this month. The fears of the negative influence of the European debt crisis and the strong franc on Switzerland’s economy caused such negative outlook. On the other hand, the assessment of the current economic situation improved and the relevant indicator increased […]
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May 192011
EUR/USD Volatile, US Economy Looks Bad
EUR/USD jumped up and down today. The euro weakened the decline of stocks and commodities drive investors to safe assets, but the dollar also loses strength as the US economy continues to show signs of weakness. The US jobless claims decreased last week and that was good news, but virtually all other reports today were very bad. EUR/USD trades now near its opening level of 1.4247. Initial jobless claims […]
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May 192011
Canadian Dollar Advances with Stocks & Commodities
The Canadian dollar gained today as stocks and commodities, including crude oil, rebounded, increasing demand for currencies tied to economic growth. The currency retreated against the euro. The Thomson Reuters/Jefferies CRB Index of 19 raw materials climbed as much as 2.6 percent. Crude oil rose above the $100 per barrel level. Raw materials makes up about half of Canadaâs export revenue, while crude is the main export. The Canadian currency […]
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May 192011
Yen Loses Strength on Poor GDP, Rebound of Stocks & Commodities
The Japanese yen fell today as commodities and stocks recovered, decreasing demand for the currency as a safe haven, while the nation’s economy continued to weaken. The Thomson Reuters/Jefferies CRB Index of raw materials rose 2.3 percent yesterday, posting the first gain in four sessions. Japanâs Nikkei 225 Stock Average gained 0.3 percent today. Japans gross domestic product shrank 0.9 percent last quarter, according to the preliminary estimate of the Cabinet Office, […]
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