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Day: July 13, 2011
July 132011
USD Suffers from Bernanke Rhetoric
The US dollar fell today against all most-traded currencies after Federal Reserve Chairman Ben S. Bernanke suggested that the Fed is ready to continue the quantitative easing if necessity for more stimulus would arise. Bernanke spoke today on the Semiannual Monetary Policy Report to the Congress, saying: On the one hand, the possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks […]
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July 132011
China’s Economy Makes Kiwi More Appealing, NZD/USD at Record
The New Zealand dollar advanced today, trading near the record high against the US dollar, as growth of China’s economy made higher-yielding currencies more appealing. China’s gross domestic product rose 9.5 percent in the second quarter of this year. Industrial output grew 15.1 percent in June, following the increase by 16.9 percent in May. Retail sales edged up 17.7 percent in June after rising 16.9 percent in May. The MSCI […]
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July 132011
Pound Falls vs. Euro on Jobless Claims
The Great Britain pound dropped against the euro today as the government report showed that the unemployment claims increased in June, instead of decreasing as was predicted by analysts. The currency gained versus the dollar. The number of people seeking unemployment benefits rose by 24,500 in June from May, while market forecast change by only 15,100. The change from April to May was revised upwardly from 19,600 to 21,500. The unemployment rate was at 7.7 percent. […]
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July 132011
Yen Declines as Chinese Economy Grows
The Japanese yen erased gains versus the US dollar and fell against the euro today after the Chinese economy grew more than expected in the second quarter of this year. The National Bureau of Statistics reported that China’s gross domestic product grew 9.5 percent in the second quarter of 2011, compared to the median forecast of 9.3 percent. The MSCI Asia Pacific Index of equities gained 0.9 percent. The Standard & Poorâs 500 Index […]
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July 132011
EUR/USD Climbs After Bernanke Speech
EUR/USD fell today after Federal Reserve Chairman Ben S. Bernanke suggested in his speech that the US central bank is ready for additional stimulating measures if that would be necessary. (Event B on the chart.) The fundamentals showed today positive tendencies in the US economy, yet import prices posted the first decline in a year. EUR/USD currently trades near 1.4142. A report on import and export prices was released […]
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July 132011
Euro Recovers on US Trade Balance, Threatened By Ireland
The euro rose today against the US dollar after yesterday’s decline as the US trade balance posted bigger deficit than was anticipated and the minutes of the Federal Open Market Committee showed that the US policymakers are divide on their opinion about necessity of the quantitative easing. The euro rose today, following yesterday’s decline, as the deficit of the US trade balance widened from $43.6 billion in April to $50.2 billion in May, while a reading […]
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