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Day: August 26, 2011
August 262011
Franc Falls as Bernanke Improves Sentiment on Markets
The Swiss franc slumped today after Federal Reserve Chairman Ben. S. Bernanke spoke today, improving sentiment on markets, while rumors abound that Switzerland’s policy makers are preparing another action to weaken the Swiss currency. There are different opinions on what steps Switzerland is going to take in order to weaken its currency. Some analysts speculate that the Swiss National Bank is preparing another intervention. […]
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August 262011
Dollar Drops After Bernanke Speech & GDP Report
The US dollar fell today after the report showed that the US economy expanded with slower pace than was predicted by specialists and Federal Reserve Ben S. Bernanke hinted at possibility of additional stimulus. According to the preliminary report, US gross domestic product grew 1.0 percent in the second quarter of 2011, following the increase by 0.4 percent in the first quarter. The advance estimate promised growth by 1.3 percent, while market participants […]
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August 262011
EUR/USD Erases Gains After Bernanke Speech
EUR/USD today moved sideway before the GDP report. The currency pair began to rise after the report showed that the US economy in the second quarter of this year grew with slower pace than was expected. Yet EUR/USD slumped after Federal Reserve Chairman hinted about possible increase of stimulus for the US economy today at the Federal Reserve Bank of Kansas City Economic Symposium, saying that “the Federal Reserve has […]
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August 262011
Pound Goes Down as UK Economy Slows
The Great Britain pound weakened against the Japanese yen and slowed its advance versus the US dollar after the report showed the UK economy grew with slower pace in the second quarter. The revised figure for growth of UK gross domestic product in the second quarter of 2011 was 0.2 percent, the same as in the preliminary estimate. It indicates slower expansion, compared to 0.5 percent growth in the first quarter. The report also mentioned that several […]
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August 262011
Aussie Recovers on Stevens’ Speech
The Australian dollar strengthened today as the statement of nation’s central bank Governor Glenn Stevens spurred the speculation that the Reserve Bank of Australia won’t cut interest rates. Stevens spoke today to House of Representatives Standing Committee on Economics, telling about the uncertainty and problems of the global economy. Despite these challenges, the Governor was rather optimistic: But at this point in time, our terms of trade are at a record high, while our unemployment […]
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