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Day: August 10, 2012
August 102012
Employment in Canada Worsens, Canadian Dollar Fluctuates
The poor employment data weakened the Canadian dollar today. Nevertheless, the loonie snapped its losses versus the US dollar and gained against the euro. The currency closed lower versus the Japanese yen. Canadian employment shrank by 30.000 jobs in July, following the increase by 7,300 jobs in June. The report proved that forecasters, who expected an increase by 9,600, were wrong. Moreover, the unemployment rate was expected to stay at 7.2 percent, but actually […]
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August 102012
Bank Rossii Keeps Rates Steady, Does Not Help Ruble
The Russian ruble slid today as crude oil, Russia’s main export, fell amid concerns about the global economic slowdown. The currency weakened even after the central bank refrained from lowering interest rates for the eight month. The Bank Rossii (the Bank of Russia) kept its lending rates unchanged today, including the main refinancing rate that stayed at 8 percent. The bank said in the statement: According to the Bank of Russia estimates, gross […]
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August 102012
Yuan Slides, Can Negative Data Lead to Rebound?
The Chinese yuan weakened today as macroeconomic reports showed that the biggest Asian economy is slowing. Analysts think that the negative data may be bullish for the currency in a longer term as Chinese policy makers will step up to boost growth. China’s consumer price inflation slowed to 1.8 percent in July, falling from 2.2 percent in June. The Asian economy felt the negative impact of the European troubles as demand for Chinese goods […]
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August 102012
EUR/USD Drops, Nearly Erases Losses
EUR/USD was slowly trailing down today in the first half of the session, but later rallied and almost erased its losses. US import prices were disappointing, but export prices rose and the federal budget shortage shrank, adding to the appeal of the US currency. Import prices fell 0.6% in July, following the 2.4% drop in June (revised from 2.7%) and frustrating analysts who expected a small increase by 0.1%. In contrast, Import prices […]
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