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Day: May 26, 2011
May 262011
New Zealand Dollar Jumps on Chinese Investments
The New Zealand dollar surged today on the speculation that Chinese companies are interested in buying the New Zealand assets. Interest.co.nz said that China Investment Corporation, a sovereign wealth fund, is planning to invest in the South Pacific nationâs assets, including government bonds, companies and dairy farms. According to the website, the company may set aside 1.5 percent (equivalent of about NZ$6 billion) of its foreign exchange reserves for investments in the New […]
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May 262011
Australian Dollar Rises with Private Capital Expenditure
The Australian dollar erased losses versus the US counterpart today as the government report showed that the value of new capital expenditures made by private businesses increased in the first quarter of this year. The seasonally adjusted estimate for total new capital expenditure rose 3.4 percent in the first three months of 2011, following the increase by 1.5 percent it the previous quarter. The forecast value was 2.8 percent. The positive data caused investors to increase […]
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May 262011
US Economic Growth Below Forecasts, EUR/USD Goes Higher
EUR/USD advanced today as the US economy expanded less than anticipated in the first quarter of this year and jobless claims unexpectedly increased. The currency pair jumped at the opening of the trading session and held its gains, slowly advancing on the negative US reports. EUR/USD trades currently at 1.4200. US GDP grew 1.8% in the first quarter of 2011, according to the preliminary estimate, following the 3.1% growth in the fourth quarter of 2010. The reading was the same as in the previous […]
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May 262011
Euro Goes Higher as China Plans Purchase of European Bonds
The euro advanced today on the speculation that Asian countries will buy European bonds despite the debt crisis that still threatens stability of Europe’s economy. According to Financial Times, Klaus Regling, Chief Executive Officer of the European Financial Stability Facility, said that investors from China and other Asian countries are planning to buy Portuguese bailout bonds after the EFSF will start selling them in June. The euro also […]
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