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Day: August 24, 2015
August 242015
Euro Surges During China’s Scare
The euro surged 2 percent against the US dollar and climbed against the Great Britain pound as well during Monday’s trading as Chinese shares plunged, dragging down stocks of other countries along with them. The currency was far less successful versus the Japanese yen, dropping more than 1 percent. China scared investors by another plunge of its stock market, driving speculators away from riskier assets. Yet […]
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August 242015
Shekel Gains vs. Dollar as Israeli Central Bank Prefers to Keep Rates Stable
The Israeli new shekel gained against the US dollar (but fell versus the euro) as the nation’s central bank refrained from cutting interest rates at today’s policy meeting even though Israel’s economy is struggling. The Bank of Israel maintained its key interest rate at 0.1 percent today. While such decision was in line with expectations of most market analysts, economists were criticizing the decision. For example, Eldad Tamir, […]
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August 242015
South African Rand Touches Record Low
The trading week has started with a sharp rise in risk aversion as the meltdown of the Chinese stock market continued. Currencies of emerging economies suffered as a result, including the South African rand that has touched the all-time low during today’s trading session. The Shanghai Stock Exchange Composite Index dipped as much as 8.5 percent, causing rout of shares all around the world. It was followed by the drop of riskier currencies, like the rand. […]
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August 242015
Global Jitters Don’t Help Canadian Dollar
Global stock market jitters aren’t helping the Canadian dollar today. Loonie is weakening against its major counterparts as stocks fall around the world and as oil prices continue to drop. All over the world stocks are falling. North American markets started this morning by plummeting. At one point the S&P/TSX dropped by more than 700 points, although some of those losses have been pared by now. In the United States, […]
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