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Day: February 16, 2012
February 162012
USA & Europe Bring Good News, Benefiting Canada’s Currency
The Canadian dollar jumped today against its US counterpart and the Japanese yen on positive macroeconomic data from the United States and good news from Europe. The currency posted losses against the euro. Virtually all economic reports from the USA were good today, particularly unemployment claims that fell, even though analysts predicted an increase. The European Central Bank began swapping Greek bonds, allowing private bondholders to participate […]
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February 162012
US Dollar Gains Against Euro, Falls Against Pound
US dollar is mixed against major European currencies today as good news out of the United States contrasts with continued uncertainty out of the eurozone. Concerns about what’s next for Europe are weighing on the euro, while a general feeling of risk appetite is helping the pound. Good economic data out of the United States is helping risk appetite right now. Jobless claims have fallen to four-year lows, with […]
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February 162012
Euro Drops on Greek Debt Deal Delay
Once again, a decision about a Greek debt deal has been delayed. As a result, markets are jittery and the euro is dropping. Indeed, at one point the euro fell to three-week lows on the news that eurozone leaders are unable to reach a decision about how to handle Greece. The situation is becoming dire at this point, as Greek leaders, led by Lucas Papademos, insist that a debt swap must be initiated by the end […]
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February 162012
Pound Climbs with Consumer Sentiment
The Great Britain pound jumped against the Japanese yen as the index of UK consumers’ confidence reached the highest level in five months. The currency dropped versus the US dollar. The Nationwide consumer confidence index rose to the five-month high of 47 in January after it reached the record low of 38 in December. The improving sentiment eased concerns that the UK would suffer from a double-dip recession. The problems in Europe also helped the sterling, increasing its […]
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February 162012
Swedish Krona Falls After Riksbank Cuts Main Rate & Growth Forecast
The Swedish krona declined today after the nation’s central bank cut its main interest rate and lowered its growth forecast for 2012 as the negative developments in the eurozone hurt the country’s economy. The Riksbank (Sweden’s central bank) lowered its main interest rate by 25 basis points to 1.50 percent. The central bank Riksbank its reasons for decreasing the rate and hinted that more reductions are possible: There is considerable uncertainty […]
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February 162012
EUR/USD Down as Greece’s Struggle Continues
EUR/USD was down today as Greece’s problems continued to hurt market sentiment, while concerns about potential exit of the country from the eurozone grew too. The currency pair reversed its trend in the second half of the trading session and was rising, but remained below the opening level. Economic data from the United States was very good and continued to prove that the US economy is recovering. Even the Producer Price Index, […]
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February 162012
Chile’s Central Bank Maintains Interest Rates
Chile’s central bank kept its main interest rate unchanged as the economic growth reduced need for an interest rate cut. The Chilean peso was flat versus the US dollar, while rose against the euro. The Central Bank of Chile decided to keep the benchmark monetary policy interest rate at 5 percent on its last policy meeting. The bank said in the statement: Domestically, economic activity and domestic demand have tended to outperform forecasts […]
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