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Day: May 30, 2013
May 302013
Franc Rises as GDP Growth Beats Expectations
The Swiss franc rose today as economic growth in Switzerland exceed analysts’ expectations, attracting investors to the nation’s assets and supporting the currency’s role as a safe haven. Swiss gross domestic product expanded 0.6 percent in the first quarter of 2013 from the previous three months. Market participants have hoped for just 0.2 percent growth. The report said: Positive contributions to growth came from private consumption, investments in construction and from the trade balance, […]
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May 302013
Canadian Dollar Advances as Current-Account Deficit Narrows
The Canadian dollar advanced today against its US peer as the nation’s current-account deficit shrank last quarter, adding to speculations that the central bank may raise interest rate in the future. The currency declined versus the euro. The Canadian current-account shortage narrowed by C$0.5 billion to C$14.1 billion in the first quarter of 2013. Analysts have expected an increase. The positive data added to evidences that the Bank of Canada can withdraw some stimulus without […]
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May 302013
NZ Dollar Slips as Wheeler Talks About Intervention
The New Zealand dollar fell today after Reserve Bank of New Zealand Governor Graeme Wheeler said that the central bank is prepared to weaken the currency. Wheeler said today: In recent months we have undertaken foreign exchange transactions to try and dampen some of the spikes in the exchange rate. We are prepared to scale up our foreign exchange activities if we see opportunities to have greater influence. The New […]
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May 302013
Pound Rises with House Prices
The Great Britain pound advanced today as UK house prices grew this month amid hopes that the nation’s economy will recover. The Nationwide House Prices Index rose 0.4 percent in May, being near the analysts’ forecasts. The index did not show growth in the prior month. The report said: Widespread expectations that the economy will continue to recover gradually in the quarters ahead, that interest rates will remain low, […]
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May 302013
US Dollar Loses Ground Further on Lastest Economic News
US dollar is losing ground today, thanks in part to concerns that the economy is not ready to recover at quite the rate some had come to expect. The news is weighing on the greenback, and sending it lower against most of its major counterparts. Earlier, the speculation had all been on the side of the Federal Reserve ending its asset purchase program sooner rather than later. However, things have changed with […]
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May 302013
Euro Gets Boost from Confidence Report
Euro is getting a bit of a boost today, thanks in part to the confidence report out of the eurozone. Economic confidence increased more than expected, and the euro is also seeing support as the United States sees disappointing economic data. The European Commission is reporting that economic confidence in the eurozone increased to 89.4 in May, which was more than expected. There are hopes that a sustained improvement in morale can help support […]
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May 302013
EUR/USD Advances as Eurozone Economic Sentiment Improves
EUR/USD climbed today, rising for the second session, as the eurozone economic sentiment improved, giving hope that the region will emerge from recession. The European Commission reported that the confidence index increased by 0.8 points to 89.4 in May. Meanwhile, the US reports disappointed, being worse than market participants have hoped for. US GDP rose 2.4% in the first quarter of 2013 from a year ago, according to the preliminary (second) estimate, […]
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