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Day: May 27, 2011

May 27
2011

Canadian Dollar Heads for Weekly Decline on US Economy

The Canadian dollar fell against most major currencies and headed for the fourth straight weekly decline against its US counterpart as the sings of the economic slowdown in the US, the biggest Canada’s trading partner, reduced appeal of the currency. Crude oil, the main Canadian export, fluctuated today, trading near $100.33. The yield on the government two-year securities fell two basis points to 1.50 percent. The MSCI World Index of shares gained as much as 1.1 percent. […]

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May 27
2011

Dollar Slumps on Personal Spending & Pending Home Sales

The US dollar extended its drop against most major currencies today as the economic data showed that US consumers were spending less than expected last month and pending home sales slumped heavily. US personal spending rose 0.4 percent in April, while it was expected to maintain the March rate of growth — 0.5 percent (revised from 0.6 percent). Personal income kept its 0.4 […]

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May 27
2011

Rand Advances vs. Dollar on Economic Growth

The South African rand rose today against the US dollar as the nation’s economic recovery remains strong, while the US recovery is stalling. Deputy Governor Daniel Mminele said that South Africa’s inflation is “somewhat benign” compared with other emerging markets. Mminele added that the central bank have to find a way to deal with the inflation without endangering the strong economic recovery. These comments spurred talks […]

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May 27
2011

South Korean Won Climbs on Current Account Surplus

The South Korean won gained today as the nation’s current account surplus advanced to the highest level in four months in April, increasing demand for South Korean assets. The Bank of Korea reported today that South Korea’s current account surplus climbed to $1.88 billion in April from the revised reading of $1.33 billion in March. The surplus rose as exports increased despite the strength of the nation’s currency. The won also strengthened as investors for the second day were […]

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May 27
2011

EUR/USD Rises on Poor US Pending Homes Sales, Gains Limited by Consumer Sentiment

EUR/USD advanced today as the tide of bad news from Europe seems to calm down, while the US house market performed simply terrible last month. The positive sentiment of the US consumers currently pushes the currency pair to the downside, though. EUR/USD trades near 1.4235 now after it jumped as high as 1.4298 as of 12:30 GMT. The reports about personal income and spending in the US was released today. It showed that personal […]

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May 27
2011

Euro Rises vs. Dollar as Economy Stabilizes

The euro strengthened against the US dollar today as the stream of bad news calmed, signaling that the economic environment stabilizes. The currency slipped against the Japanese yen before rebounding. The Greek government announced new cuts, but the main opposition party rejected the austerity measures. The European leaders delays the decision about restructuring of Greece’s debt in hopes that the nation will be able to fix its economy soon enough to avoid such […]

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May 27
2011

US Dollar Falls on GDP & Rising Unemployment Claims

The US dollar fell as the negative economic data spurred talks that the US Federal Reserve will lag behind the European Central Bank in increasing interest rates. The preliminary report showed that the US gross domestic product grew 1.8 percent in the first quarter of 2011, following the 3.1 percent growth in the fourth quarter of 2010. Market participants anticipated an increase by 2.2 percent. The claims for unemployment benefits rose from 414,000 to 424,000 […]

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