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Day: July 20, 2011
July 202011
Optimism for Europe Returns, Greenback Suffers
The US dollar weakened today, falling to the lowest level in almost a week against the euro, as hopes that the European leaders would find a way out of crisis diminished need in safe currencies. The European politician will meet tomorrow at summit in Brussels. Forex market participants hope that the meeting will result in some cohesive plan to resolve current economic problems of the Eurozone and this optimism made traders prefer riskier assets. The Stoxx […]
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July 202011
Malaysian Ringgit Gains on US Housing & Global Stocks
The Malaysian ringgit strengthened today as the improving US hosing market and the advance of global equities increased attractiveness of higher-yielding currencies. The report yesterday showed that the US housing starts increased to 629,000 in June, compared to the expected value of 580,000. The Standard & Poorâs 500 Index surged 1.6 percent yesterday, while the MSCI Asia-Pacific Index of shares posted the biggest gain in a week. Malaysiaâs annual inflation reached the highest level in two years […]
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July 202011
GBP/USD Erases Losses After BOE Minutes
The Great Britain pound erased losses against the US dollar after the minutes of the central bank’s policy meeting showed that most policy makers voted against increasing size of bond purchases. The minutes of Monetary Policy Committee meeting showed that eight members voted for maintaining current size of asset purchases program, while one member vote for an increase by £50 billion. Seven policy makers voted for maintaining the main interest […]
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July 202011
EUR/USD Gets Boost from Falling US Existing Home Sales
EUR/USD advanced today as the US existing home sales unexpectedly declined in June. The currency pair was rising at the beginning of today’s trading session, later declined, was boosted by the home sales report, but currently tends to move down. EUR/USD trades near 1.4196 now. Existing home sales declined to a seasonally adjusted annual rate of 4.77 million in June from 4.81 million in May. Market participants were too optimistic, […]
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