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Day: July 14, 2011
July 142011
Dollar Regains Strength as Bernanke Speaks
The US dollar regained its strength today after Federal Reserve Chairman Ben Bernanke signaled today that there won’t be a third round of quantitative easing. Bernanke said today that inflation is growing and is close the central bank’s target. Retail sales rose 0.1 percent in June, following the drop by 0.1 percent in May. Unemployment claims fell from 427k to 405k last week. Despite some […]
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July 142011
CHF Reaches Record vs. USD, EUR & GBP
The Swiss franc touched a record versus the US dollar, the euro and the Great Britain pound today after Fitch Ratings downgraded Greece’s credit rating. The currency erased gains on the speculation that the Federal Reserve won’t continue its quantitative easing program. Fitch cut the credit rating of Greece from B+ to CCC and removed Greece from Rating Watch Negative. The agency wrote, explaining its decision: The latest rating actions are […]
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July 142011
EUR/USD Erases Gains After Reaching Weekly High
EUR/USD erased its gains today on concerns that the European sovereign-debt crisis is spreading. The US PPI was negative last month, but retail sales unexpectedly grew and jobless claims dropped more than predicted. EUR/USD trades now near its opening level of 1.4163 after it jumped to 1.4281 earlier. PPI decreased 0.4% in June, seasonally adjusted, following increase by 0.2% in May. Analysts predicted a 0.2% […]
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July 142011
New Zealand Economy Expands, NZD/USD Jumps to Record
The New Zealand dollar advanced against all 16 most-traded currencies, touching the all-time high versus the US dollar and reaching the highest level since 2005 against the euro, as growth of the New Zealand economy beat estimates. The New Zealand gross domestic product rose 0.8 percent in the first quarter of 2011, following the growth by 0.5 percent (revised from 0.2 percent) in the previous quarter. The median forecast was 0.3 percent. The House […]
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July 142011
Dollar Falls as Moody’s Reviews US Credit Rating
The US dollar slid today, falling against the euro for the second day, as Moody’s Investor Service put the US credit rating on review for the first time since 1995. Moody’s review the US rating on concerns that the nation wouldn’t be able to raise its debt ceiling in time to pay interest. US President Barack Obama and congressmen weren’t been able to achieve an agreement on reducing deficits and raising the $14.3 trillion federal debt […]
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