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Day: August 25, 2011
August 252011
Will Bernanke Announce QE3? Will Dollar Decline?
The US dollar continued to rise today ahead of tomorrow’s speech of Federal Reserve Chairman Ben S. Bernanke, who is expected to announce a new round of quantitative easing. Some economists believe such expectations are futile. Some market analysts argue that the North American economy doesn’t require additional stimulus as consumer prices continue to rise and the economic growth continues to accelerate, while deflation pressure wanes. Today’s report […]
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August 252011
Euro Falls for Second Day vs. Dollar
The euro fell against the US dollar for the second day and erased gains versus the Swiss franc today as investors are less willing to buy the currency amid signs of problems in Europe and concerns of global economic slowdown. The decline of consumer confidence in Germany had its negative impact on the shared European currency. GfK stated that German consumer confidence fell from 5.3 to 5.2 this month and wrote in the report: Economic expectations virtually […]
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August 252011
Australia’s Dollar Weakens on Germany’s Consumer Confidence
The Australian dollar fell today against most major currencies, before rebounding, as the report showed consumer confidence in Germany declined this month, reducing appeal of higher-yielding assets. The drop of German confidence wasn’t very big as the GfK indicator retreated just to 5.2 in August from 5.3 in the month before. The report explained: Despite the current crisis on the financial markets, Germansâ willingness to buy is surprisingly robust and increased further in August from […]
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August 252011
GBP Falls vs. EUR with Consumer Confidence & Retail Sales
The Great Britain pound fell today against the euro and fluctuated versus the dollar as the signs that the economy of the UK is weakening made the sterling less attractive to Forex traders. Nationwide Building Society reported consumer confidence fell from 51 to 49 in July and said: Any substantial improvement in confidence is unlikely during the remainder of 2011. The Confederation of British Industry Distributive Trades Survey showed the balance of retail at -14 percent in August, […]
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