The Australian dollar rallied against all other most-traded currencies this week without any noticeable opposition as the economic recovery boosted commodity prices and caused Australia’s central bank to revise its growth forecast upwardly.
Monday, February 7, 2011
Saturday, February 5, 2011
High Canadian Employment Makes Loonie Strongest Since May 2008
The Canadian dollar reached the highest level against its US counterpart since May 2008 as the employment change in Canada was more than three times higher than the predicted value.
Canadian employment rose for the second consecutive month in January, advancing by 69,000. The economists predicted that Canadian employers would add just 18,000 jobs. At the same time, the unemployment rate increased from 7.6 percent to 7.8 percent as more people searched for work. The Canadian currency was also boosted by the decreasing unemployment in the US, the biggest trading partner of Canada.
Canadian employment rose for the second consecutive month in January, advancing by 69,000. The economists predicted that Canadian employers would add just 18,000 jobs. At the same time, the unemployment rate increased from 7.6 percent to 7.8 percent as more people searched for work. The Canadian currency was also boosted by the decreasing unemployment in the US, the biggest trading partner of Canada.
Tuesday, February 1, 2011
China raise rates again after festivities
The HSBC/Markit Economics Chinese Purchasing Managers' Index revealed that among the components in the report input costs increased again and might be an indication of why both retailers and wholesalers raised prices.
Monday, January 31, 2011
US Dollar Declined This Week on Poor Macroeconomic Reports
This week was rather bad for the US currency even as the US economy demonstrated a moderate growth, which nevertheless wasn’t as good as the economists anticipated.
The economic reports were for the most part worse than the forecasts promised, even though the data showed growth. One example of such reports was the report about the gross domestic product. Even as GDP expanded 3.2 percent in the fourth quarter of 2010, compared to the 2.6 percent growth in the third quarter, the increase still was below the expected 3.5 percent growth.
The economic reports were for the most part worse than the forecasts promised, even though the data showed growth. One example of such reports was the report about the gross domestic product. Even as GDP expanded 3.2 percent in the fourth quarter of 2010, compared to the 2.6 percent growth in the third quarter, the increase still was below the expected 3.5 percent growth.
Monday, January 24, 2011
Euro Rises for 4th Day on German Business Confidence Data
The euro rose to its eight-week high level against the US dollar today as the German Business Climate data surpassed forecasts, showing confidence in the strength of the Eurozone’s leading economy.
The euro also rose for the fourth consecutive day against the British pound and for the second one against the Japanese yen. German Ifo Institute released its Business Climate index data for January, showing a growth from 109.9 to 110.3, while the major economists forecasted that the index will remain unchanged this month.
The euro also rose for the fourth consecutive day against the British pound and for the second one against the Japanese yen. German Ifo Institute released its Business Climate index data for January, showing a growth from 109.9 to 110.3, while the major economists forecasted that the index will remain unchanged this month.
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