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Day: July 21, 2011
July 212011
Euro Jumps as EU Leaders Make Plan to Help Greece
The euro surged today on the speculation that the leaders of the European Union will increase the size of the rescue fund and will accept a temporary Greece’s default, reducing threat of spreading of the debt crisis to other countries of the region. The European politicians strive to make a period of default for Greece as short as possible. The European Financial Stability Facility will support the nation. To do so, economists hope, the EFSF will increase its size and will back up Greek […]
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July 212011
Aussie Goes Lower as China’s Manufacturing Slows
The Australian dollar fell today after the report showed a slowdown of China’s manufacturing. The slowdown may curb demand for commodities and that, in turn, would hurt Australia’s economy. The Flash China Manufacturing PMI fell to 48.9 in July from 50.1 in June. The Flash China Manufacturing Output Index dropped to 47.2 this month from 49.8 in the month before. Both indexes were at 28-month low. Hongbin Qu, Chief Economist, China & […]
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July 212011
EUR/USD Jumps After EU Summit
EUR/USD jumped today after at the European Union summit a draft was devised, that should made a period of default in Greece as short as possible and would prevent the sovereign-debt crisis from spreading to other European nations. Today’s macroeconomic data showed that US manufacturing is regaining its footing, while unemployment claims increased above expectations. EUR/USD trades now at 1.4356. Initial jobless claims rose to 418k, even though […]
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July 212011
Pound Weakens on Worsening Consumer Sentiment
The Great Britain pound weakened today after the report showed that confidence of UK consumers declined last month, signaling that Britain’s economy won’t likely to improve in the near future. The Consumer Confidence Index of Nationwide Building Society fell from 55 to 51 in June. The assessment of the present economic conditions was stable and the main reason for the decline was the worsening outlook for the future of the UK economy. Retail sales increased 0.7 percent […]
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