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Day: June 14, 2011
June 142011
Improving Economy Pushes Dollar Down
The US dollar fell today against higher-yielding currencies, but rose against riskier ones, as the macroeconomic data improved outlook for growth of the US economy. The US data combined with the reports from China sapped attractiveness of safer currencies to Forex traders. The Producer Price Index rose 0.2 percent in May after rising 0.8 percent in April. The expected growth was 0.1 percent. The retail sales fell 0.2 percent last […]
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June 142011
China’s Economy Benefits Australia’s Dollar
The Australian dollar gained today after the government reports showed that China’s economic growth accelerated and stocks jumped, increasing appeal of higher-yielding currencies. The MSCI Asia Pacific Index of shares rose 1.1 percent after falling 0.2 percent. The Stoxx Europe 600 index advanced 0.8 percent. The gains can be limited after China National Radio said today that the nation may boost borrowing costs this […]
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June 142011
Growing China’s Economy Saps Demand for Safety of Yen
The Japanese yen together with other safe currencies, including the US dollar and the Swiss franc, weakened against most major currencies today as the robust growth of China’s economy reduced investors’ demand for safety. China’s consumer prices inflation accelerated to 5.5 percent from 5.3 percent last month according to the National Bureau of Statistics. The industrial production grew 13.3 percent in May, following the 13.4 percent growth in the month before. The Producer […]
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June 142011
EUR/USD Moves Higher as China Reduces Demand for Safety
EUR/USD rose today as the positive economic data from China reduced demand for the dollar as a safe haven. The euro declined versus the dollar somewhat as the US economic reports were better than expected, but remained strong. EUR/USD trades now at 1.4479. PPI rose 0.2% in May (seasonally adjusted) following the increase by 0.8% in April. The actual value reading was somewhat higher that the forecast 0.1% increase. (Event A on the chart.) Retail […]
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