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Day: August 11, 2011
August 112011
Franc Plunges Heavily on Prospects of Euro-Peg
The Swiss franc slumped today against all major currencies as Swiss National Bank Vice President Thomas Jordan suggested that a short-term peg of the nation’s currency to the euro could be legal. The SNB was attempting to weaken the Swiss currency for several years. So far such attempts were futile. There is a difference this time, though, as a peg wouldn’t have just one-time effect as the previous interventions, but would […]
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August 112011
South Korea Holds Interest Rates, Won Goes Lower
The South Korean won declined today as the nation’s central bank kept the main interest rate unchanged, most likely influenced by threat of the European problems and the downgrade of the US credit rating for the global economy. The Bank of Korea held its seven-day repurchase rate at 3.25 percent. Such move wasn’t unexpected by markets. According to analysts, declining oil prices and a weak currency can help the economy of the Asian nation. USD/KRW went higher from […]
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August 112011
EUR/USD Slips Down with Unemployment Claims
EUR/USD was rising from the beginning of today’s trading session, but about 8:45 GMT it started decline that continues to the present time. The currency pair has got a small boost from the report that showed an increase of the US trade balance deficit, but the rally failed almost as soon as it started. Perhaps the positive jobless claims figure is responsible for such outcome. US trade balance had a deficit […]
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August 112011
Australia’s Dollar Rallies Despite Rising Unemployment
The Australian dollar jumped today as gains of US stocks and advance of commodities overshadowed the unfavorable report about employment in Australia The Standard & Poorâs 500 September futures advanced 1.7 percent, following yesterdayâs decline by 4.1 percent. The Thomson Reuters/Jefferies CRB Index of commodities gained 1.4 percent yesterday. The positive new from outside of Australia overshadowed the bad fundamentals in the country itself. The unemployment rate increased from 4.9 percent in June […]
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