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Day: May 11, 2012
May 112012
Pound Drops as Consumer Confidence Worsens
The Great Britain pound declined after a report showed that confidence of Britons worsened last month, spurring speculation that the Bank of England will be forced to perform quantitative easing. Nationwide Building Society reported that the Consumer Confidence Index fell from 53 in March to 44 in April. Estimates before the report predicted the index to remain stable at 52. Robert Gardner, Nationwideâs Chief Economist, said: It is not […]
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May 112012
Ruble Follows Oil Price in Decline, Rebounds
The Russian ruble fell today, before rebounding later, as prices for crude oil, the chief export of the country, declined, resulting in a drop of the trade balance surplus. Crude oil prices fell 0.2 percent to $96.86 per barrel in New York today, heading for a second weekly drop. The prices were under pressure from swelling US stockpiles and the European credit crisis. Russiaâs trade surplus shrank to $19.4 billion in March from $20.3 […]
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May 112012
Canadian Dollar Gets Boost on Employment Gains
Canadian dollar is getting a boost today against the US dollar as employment news turns out more positive than expected. Loonie is higher against its US counterpart on the good news, even as risk aversion in general weighs on other high beta currencies. Canadian dollar is heading higher today, thanks to a strong employment report. According to Statistics Canada, employment rose to 58,200 in April. This came on the heels […]
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May 112012
Euro Falls as Greece Continues to Wrangle
Greek political leaders continue to wrangle in an effort to form a government, and that is weighing on the euro, especially against the US dollar. Yesterday, the euro showed some spunk, and riskier assets received a bit of a boost. Today, though, risk aversion is back in full force over Greece, and over the latest news from JP Morgan Chase. In Greece, the political wrangling continues. Political leaders differ on what they think will happen, […]
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May 112012
EUR/USD Fluctuates as Greece is Still Factor of Uncertainty
EUR/USD fluctuated today, heading to a weekly loss, as fears that Greece would drop the euro still plague the Forex market. In the United States, the Producer Price Index unexpectedly dropped, but consumer confidence continued to improve. PPI fell 0.2% in April, even though analysts promised it to stay unchanged as in March. (Event A on the chart.) Preliminary Michigan Sentiment Index climbed to 77.8 in April, while it was expected to stay at the March’s […]
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May 112012
Indonesia Rupiah Advances as Intervention Anticipated
The Indonesia rupiah advanced today on speculation that the nation’s central bank will intervene, buying the currency, to reduce currency volatility and slow growth of consumer prices. Analysts speculate that the Bank Indonesia may boost its interest rates after keeping them unchanged on the last policy meeting. The bank may do so to keep inflation in check after it jumped the highest level in seven months. Indonesia’s central bank may […]
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