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Day: January 6, 2012
January 62012
Czech Koruna Falls to 19-Month Low Against Dollar
The Czech koruna declined today to the lowest level since July 2010 after minutes of a central bank’s policy meeting showed that policy makers anticipated slower economic growth in the country. Minutes of the Czech National Bank spoke about economic slowdown: It was said several times that the Czech economy was slowing and that no domestic demand-pull inflation pressures were apparent. The slowing growth was attributed mainly […]
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January 62012
Euro Struggles Continue on Bank Capitalization Concerns
Bank capitalization concerns are the main focus today, especially after the debacle involving UniCredit. Worries about bank capitalization, and a continuation of the sovereign debt crisis in many eurozone states, has the euro heading lower again today. Even better news out of the United States, with the news that the December unemployment rate dropped to 8.5% can’t boost risk appetite. There’s just too much focus on the eurozone, and the debt problems […]
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January 62012
UK Pound Lower as Concern about Isolation Grows
Yesterday, UK pound gained solidly against the euro, but today some of those gains are being given back. UK pound is lower on a combination of risk aversion, as well as concerns as British politicians consider the effects of British isolation from the rest of the eurozone. Yesterday, Deputy Prime Minister Nick Clegg worried that Prime Minister David Cameron‘s veto of a new European Union treaty left Britain isolated from […]
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January 62012
Canadian Dollar Drops as Oil Declines & Unemployment Grows
The Canadian dollar fell yesterday and extended its drop today after crude oil declined, while unemployment in Canada unexpectedly increased last month and employment growth was lower than anticipated. The Canadian unemployment rate rose from 7.4 percent in November to 7.5 percent in December, while most specialists in the labor market expected it to stay unchanged. Canadian employers added 17,500 jobs last month, compared to the median forecast […]
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January 62012
Dollar Rallies, Stalls, Can Resume Advance
The US dollar rallied yesterday as macroeconomic data from the United States was good, while concerns about Europe’s economy persisted. The rally stalled today, but may yet resume as US non-farm payrolls are expected to show robust growth of employment. The employment index of Automatic Data Processing picked up from 204,000 to 325,000 in December from the previous month, while decline was predicted. Unemployment claims fell from […]
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January 62012
Nonfarm Payrolls Grow & Unemployment Declines, EUR/USD Down
EUR/USD dropped today as US employment growth was bigger than forecast and the unemployment rate provided a pleasant surprise, falling last month. It looks like the major concern of investors — the high level of unemployment in the United States — gradually loses its strength. Nonfarm payrolls grew by 200,000 in December, compared to the average estimate of 152,000. The November growth was revised from 120,000 to 100,000. The unemployment rate surprised market […]
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