The US dollar strengthened versus the Great Britain pound and the Japanese yen as the macroeconomic reports showed that the US jobs market improved, causing optimism about the future of the US economy. The currency retreated against the euro.
Friday, March 4, 2011
Tuesday, March 1, 2011
Inflation Pressure Makes Euro Stronger
The euro advanced on the speculation that the accelerating inflation will make the European Central Bank to raise the interest rates before the Federal Reserve.
The Eurozone annual inflation rose to 2.3 percent in January from 2.2 percent in December 2010. The consumer prices remained above the ECB target of 2 percent for the second month. The rising consumer prices spurred the speculation that the inflation pressure will prompt the ECB to increase the rates. Most analysts, though, don’t think that this will happen on the meeting of the ECB policy maker this week.
The Eurozone annual inflation rose to 2.3 percent in January from 2.2 percent in December 2010. The consumer prices remained above the ECB target of 2 percent for the second month. The rising consumer prices spurred the speculation that the inflation pressure will prompt the ECB to increase the rates. Most analysts, though, don’t think that this will happen on the meeting of the ECB policy maker this week.
Friday, February 18, 2011
Swiss franc keeps firm footing
Swiss franc held near two-week highs on Friday, having powered higher on mounting Middle East tensions, while the U.S. dollar lost steam, putting its rebound this month from a three-month low at risk.
The Swiss currency, traditionally sought in times of heightened geopolitical tension, stayed near two-week highs versus the dollar and euro as unrest spread across the Middle East and North Africa.
The Swiss currency, traditionally sought in times of heightened geopolitical tension, stayed near two-week highs versus the dollar and euro as unrest spread across the Middle East and North Africa.
Sunday, February 13, 2011
Is Canadian Dollar Becoming Safe Currency
The first half of this week wasn’t very good for the Canadian dollar, but the losses were offset in the second half, when the currency surged upward even though the sentiment was favoring safety.
The discouraging macroeconomic data and the strong performance of most other currencies have led to the weakness of the Canadian dollar. Yet on Thursday the loonie, as the Canadian currency is often nicknamed, reversed the trend. The gains erased the losses against some currencies and even allowed to post a weekly gain against others.
The discouraging macroeconomic data and the strong performance of most other currencies have led to the weakness of the Canadian dollar. Yet on Thursday the loonie, as the Canadian currency is often nicknamed, reversed the trend. The gains erased the losses against some currencies and even allowed to post a weekly gain against others.
Thursday, February 10, 2011
Gold flat but dollar drop, Bernanke view underpin
Gold was little changed on Wednesday as the market was underpinned by a dollar drop and Federal Reserve Chairman Ben Bernanke's comment that he had no plans to scrap a massive bond-buying program, indicating interest rates will not rise any time soon.
In testimony to Congress, Bernanke suggested U.S. economic conditions were still too weak for the central bank to pull back on its vast monetary stimulus, despite a welcome drop in the jobless rate.
In testimony to Congress, Bernanke suggested U.S. economic conditions were still too weak for the central bank to pull back on its vast monetary stimulus, despite a welcome drop in the jobless rate.
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