Day: June 13, 2011

June 13
2011

Loonie Gains on Employment, Will Crude Oil Stop Rally?

Canada’s dollar gained today as the unexpected drop of the unemployment rate last week improved outlook for the nation’s economy and attractiveness of its assets. The currency weakened versus the euro. Canadian employers added 22,000 jobs in May, following the increase by 58,300 jobs in April. The unemployment rate went down to 7.4 percent from 7.6 percent, even as analysts forecast no change. Dean Popplewell, the head analyst at the online currency-trading firm Oanda Corporation, […]

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June 13
2011

Swiss Franc Reaches Record vs. Euro

The Swiss franc jumped to the all-time high against the euro and climbed against other most-traded currencies on concerns that the European Union policy makers won’t be able to reach agreement about measures to deal with the sovereign debt. German Finance Minister Wolfgang Schaeuble thinks that holders Greek bond should accept longer maturities. European Central Bank President Jean-Claude Trichet, on the other hand, insists that imposing losses […]

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June 13
2011

Malaysian Ringgit Down on Growth Concerns, Europe’s Crisis

The Malaysian ringgit dropped today on the signs that the global economic recovery is faltering and on the speculation that Europe’s leaders won’t be able to deal with the debt issues. Asian currencies, as well as other higher-yielding assets, were falling as the European policy makers can’t agree whether to incur losses in Greece’s second bailout on holders of the Greek bonds. The MSCI Asia Pacific Index of regional shares dropped 0.9 percent, while the MSCI […]

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June 13
2011

Yen Falls on Anticipation of Stimulus

The Japanese yen weakened today on the speculation that the nation’s central bank will perform stimulus measures to help the recovery of the economy. The policy makers of the Bank of Japan will meet tomorrow and many economists expect that they will decide to expand the program of asset purchases on the meeting. Japan’s private-sector machinery orders decreased at a seasonally adjusted rate of 3.3 percent in April, following the increase by 1 percent in March. The report was a total surprise […]

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