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Day: July 6, 2011
July 62011
Canadian Dollar Falls as China Raises Interest Rates
The Canadian dollar weakened today as China boosted the lending rates to stem its economic growth, reducing appeal of growth-related currencies. China’s decision to increase the rates had a negative impact on market sentiment. Together with the cut of Portugal’s credit rating by Moody’s, it significantly reduced investors’ willingness to risk. The domestic economic environment also wasn’t particularly supportive for the loonie. The Industrial Product Price Index fell 0.2 percent in May from […]
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July 62011
Search for Higher Yield Draw Investors to Kiwi
The New Zealand dollar advanced today as the rally of stocks and commodities increased attractiveness of the currency to investors that look for higher-yielding assets. The MSCI Asia Pacific Index of regional shares rose 0.3 percent today, while the Thomson Reuters/Jefferies CRB Index of raw materials gained 1.5 percent yesterday. The report of the New Zealand Institute of Economic Research showed that the business confidence index rose to 27 in the second quarter of this year from […]
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July 62011
Ruble Falls with Crude Oil
The Russian ruble fell today, after five sessions of gains against the US dollar, as crude oil, the main source of the nation’s export revenue, trimmed gains in New York. August contract for crude oil delivery traded little changed at $96.87 per barrel after it advanced earlier by $0.9 per barrel. Crude paired its gains in New York after the dollar advanced versus the euro. The ruble fell 0.3 percent, […]
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July 62011
EUR/USD Down as Moody’s Cut Portugal’s Rating
EUR/USD extended its decline today for the second day as Moody’s Investor service downgraded Portugal’s credit rating and warned about possible default in Greece. The economic data from the US was worse than expected, but the US employment reports later this week should be real drivers of the Forex market. EUR/USD trades now at 1.4306. ISM services index decline to 53.3% in June from 54.6% in May. The median forecast […]
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July 62011
RBA Maintains Interest Rates, AUD/USD Falls
The Australian dollar fell against its US counterpart, rose versus the euro and was little changed against the Japanese yen after the nation’s central bank kept its interest rates unchanged and the trade balance surplus increased. The Reserve Bank of Australia kept its benchmark Cash Rate at 4.75 percent. RBA Governor Glenn Stevens said in his statement after the decision: A gradual recovery from the floods and cyclones over the summer […]
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