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Day: September 15, 2011
September 152011
SNB Maintains Rates at Zero, Franc Strengthens
The Swiss franc rose today even after the Swiss National Bank left the benchmark interest rate at zero at pledged to maintain the peg of the nation’s currency to the euro. The central bank wrote in the monetary policy assessment: The Swiss National Bank will enforce the minimum exchange rate of CHF 1.20 per euro set on 6 September with the utmost determination. It is prepared to buy foreign currency in unlimited quantities. It continues to aim […]
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September 152011
Europe Helps Oil & Russian Ruble
The Russian ruble climbed today, rebounding from the lowest level in eight months against the US dollar, as crude oil gained and the European Central Bank announced its plans to boost liquidity, bolstering risk appetite. Crude oil jumped 1.4 percent to $90.02 per barrel in New York, rebounding for the previous drop to $88.01 per barrel. Crude is the major source of Russia’s export revenue. Futures on Brent crude oil rose […]
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September 152011
Rand Rebounds on ECB Efforts
The South African rand strengthened today as the European Central Bank announced it’s planning to lend dollar to the European bank in an effort to support the European banking system and to boost liquidity. The ECB announced it’s going to perform liquidity operations in tandem with the Federal Reserve, the Bank of England, the Japan of Bank and the Swiss National Bank. The effort of the central banks reduced concerns about the Eurozone banking system. Analysts think that the optimism may be […]
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September 152011
EUR/USD Rises as ECB Boosts Liquidity
EUR/USD rose today for the second day as the European Central Bank announced it will lend dollar to the bank of the Eurozone, reducing concerns about liquidity. There was plenty of macroeconomic data from the US, but it was rather confusing. Consumer prices, current account and industrial production signaled about recovery of the US economy, while jobless claims and manufacturing indexes signaled about stagnation. Initial jobless claims rose to 428k […]
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September 152011
Canadian Dollar Within Cent of Parity with Greenback
The Canadian dollar fell today, trading within one cent of parity with the US dollar, as copper and crude oil prices declined on the signs the global economic recovery is faltering. Crude oil, the key Canadian export fell to $88.54 per barrel in New York, while copper dropped 1.6 percent to $8,630 per metric ton. Some other raw materials, including lead, tin and zinc, also declined. The retail sales […]
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September 152011
Australian Dollar Drops on Interest Rates Outlook
The Australian dollar fell today on the speculation the revised method of the inflation calculation will cause the central bank to refrain from raising the interest rates. The Australian Bureau of Statistics changed its method of calculating the inflation of the consumer prices. The new method may show the consumer prices grew last quarter less than was previously estimated. Joaquin Vespignani, economist at Barclays, predicted that the Reserve Bank of Australia will have to reduce its […]
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