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Day: August 18, 2011
August 182011
Dollar Rises While Traders Afraid of Recession
The US dollar went up today versus most of its major peers as the speculation that the global economy will face a double-dip recession made investors stick to safe currencies. The greenback is still considered to be a safe currency even with all the turmoil in the United States. This day was rich on the macroeconomic reports from the US, but the data has left a mixed feeling about the largest North American economy. […]
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August 182011
Franc Unfazed by SNB Attempts to Weaken Currency
The Swiss franc advanced today for the second day, paying no heed to the attempts of the Swiss central bank to prevent the currency from strengthening even more and hurting the nation’s economy. Currently the franc retreated somewhat against the dollar. The Swiss National Bank announced yesterday that it’s increasing liquidity for the franc on markets and would continue to buy SNB bills and use foreign-exchange swap transactions. Immediately after that announcement the Swiss currency started […]
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August 182011
Cheaper Oil Means Weaker Ruble
Russia’s ruble weakened today after crude oil declined, reacting to the negative data about the US unemployment claims that reduced hopes for improvement of the economy in the US. The jobless claims came out at 408,000 last week, worse than predicted 402,000. Higher unemployment means slower economic growth and, as a consequence, less demand for fuel. Futures for delivery of crude oil in September fell 1.6 percent to $86.19 per barrel. Oil […]
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August 182011
EUR/USD Slumps, US Macroeconomic Data Mixed
EUR/USD tumbled today as inflation in the US accelerates, while concerns about the debt problems in Europe persist. US leading indicators also rose. Yet there were plenty of bad news for the United States. Jobless claims rose and existing home sales fell. Manufacturing was particularly bad, as manufacturing index of Philadelphia Fed registered an unexpected and massive slump. Initial jobless claims were higher at 408k in the week ended August 13, […]
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