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Day: June 24, 2011
June 242011
US Dollar Rises vs. Euro on Greece, Falls vs. Yen on GDP
The US dollar gained today against the euro as Greece’s problems still undermine the shared European currency. The greenback weakened against the Japanese yen as the US economic growth slowed in the first quarter of this year. The growth of the US gross domestic product slowed to 1.9 percent in the first quarter of 2011 from 3.1 percent in the fourth quarter of 2010. The US currency attempted to rally against the yen despite the unfavorable report, but wasn’t able […]
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June 242011
UK Economic Outlook Causes Weakness of Pound
The Great Britain pound went lower today as the outlook for the UK economy suggests that the nation’s central bank will stick to accommodative policy. The Bank of England minutes suggested that the prospects for Britain’s economy stays dim and the bank will be forced to keep the borrowing costs low to stimulate economy. The pound dropped 7.3 percent versus the euro, making it the worst-performing among 10 currencies of major economic after the US and Canadian […]
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June 242011
Thai Baht Weak Ahead of Elections
The Thai baht fell today on the concerns about the coming elections and on the negative influence of the economic situation in the European Union. Market participants are afraid that the election on July 3 will increase the political instability in the country. The baht declined 1.2 percent this month. That’s the worst performance against 10 major Asian currencies. USD/THB rose to 30.67 from 30.64 today as of 13:49 GMT. If you have any questions, comments or opinions […]
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June 242011
Greece Still Bad for EUR/USD, US GDP Grows as Predicted
EUR/USD retreated, following the jump earlier today, on concerns that Greece’s politicians won’t vote for the austerity measures that are required to receive aid from the European Union and the International Monetary Fund. Today was the second day of the EU summit in Brussels, where the European leaders discussed the economic problems of the Eurozone. The US durable goods orders grew last month more than was estimated, while the growth of the GDP was in line […]
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June 242011
Canadian Dollar Flat After Decline, Gains vs. US Dollar
The Canadian dollar traded sideways after it fell yesterday as crude oil declined on the Federal Reserve cut its US growth forecast. The currency attempted to rally against the US dollar. Crude oil dropped after the International Energy Agency announced its plan to release oil from its strategic reserves and on prospects of higher output from Saudi Arabia. August futures for delivery of oil fell to $5.72 to $89.69 per barrel […]
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June 242011
Euro Falls as EU Leaders Discuss Greece
The euro went down before the end of the summit in Brussels today. The European Union leaders discussed the bailout for Greece and traders are uncertain about the possible decision. The European finance ministers will decide on July 3 whether Greece has done enough to receive aid. To get next part of the rescue planned rescue package the country should implement budget cuts and other measures to fix the economic imbalances. The problem is that the Greek […]
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