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Day: July 19, 2011
July 192011
Dollar Rises on Signs of Agreement Among US Lawmakers
US President Barack Obama accepted the deficit reduction plan of the bipartisan group of senators, bringing hope for resolution of the deadlock in discussion an increase of the debt ceiling. The US dollar rose against the Japanese yen and trimmed its losses versus the euro. The group led by Republican Senator Saxby Chambliss of Georgia and Senator Mark Warner of Virginia proposed plan for an immediate reduction in spending by $500 billion followed by a longer-term cuts and $1 trillion of tax increases. […]
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July 192011
BOC Rate Statement Invigorates Loonie
The Canadian dollar jumped today after Canada’s central bank held interest rates and signaled that it can resume its rates increases soon as economy improves. The Bank of Canada maintained its key Overnight Rate at 1 percent and wrote in the statement: To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn. […]
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July 192011
EUR/USD Rebounds on Hopes for EU Summit
EUR/USD pared losses today as Greek Finance Minister Evangelos Venizelos suggested that agreement among the European leaders on a way out of the debt crisis is “attainable”. The European Union politicians will meet in Brussels on July 21. The report on the US housing market was quite positive today and tomorrow’s report is also expected to show a robust recovery of the market. EUR/USD trades now at 1.4140. Housing starts and building permits rose […]
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July 192011
Is Agreement Among European Leaders Attainable? Perhaps
Greek Finance Minister Evangelos Venizelos suggested that agreement on measures to resolve the European debt crisis at the coming European Union summit is “attainable”. These words boosted the euro. The Ewald Nowotny, one of the governors of the European Central Bank, signaled that the Europe’s central bank may accept Greek bonds as collateral. He said in the interview to CNBC: At the end of the day it has to be the decision of the ECB. The ECB should not be […]
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July 192011
AUD/USD Trades Higher After RBA Minutes
The Reserve Bank of Australia released today minutes of its policy meeting on July 5 that indicated a robust economic growth in Australia and, thus, decreased probability if interest rates cuts. The Australian currency reacted positively to the minutes. The minutes also spoke about problems of the global growth, as well as some domestic issues, but conclusion was favorable: Notwithstanding this, members considered that the continuing strong economic performance of Asian […]
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