Analitics
Dollar Drops on Strong Economic Data
Economic optimism returned on Thursday, supporting risk-prone currencies against the dollar and yen. Stocks, commodities and interest rates rose on better-than-expected economic and corporate earnings reports. Federal Reserve Chairman Ben Bernanke told Congress that “we are ready and we will act if the economy does not continue to improve” and reassured investors that further stimulus would be there if needed.
Source: Hans Nilsson
22.07.2010
BOC Rate Hike Supports Canadian Dollar
The dollar traded mixed on Tuesday ahead of Federal Reserve Chairman Ben Bernanke’s semiannual congressional testimony on the economy tomorrow. June US housing starts decreased to the lowest level since October 2009 and employment fell in 27 states led by declines in California and New York. However, a more-than-expected increase in June building permits substantiated the claim that the US housing sector is stabilizing.
Source: Hans Nilsson
20.07.2010
Will EUR/USD Penetrate Resistance?
The greenback traded mixed on Monday. The S&P 500 rose 6.37 to 1,071.25. The yen declined slightly versus the dollar. The euro gained against most of its major counterparts. The EUR/JPY advanced to 112.31. Sterling fell for a second day following its unsuccessful attempt to penetrate the 1.55-area resistance.
Source: Hans Nilsson
19.07.2010
Yen Rises as Risk Appetite Falls
he dollar closed mixed on Friday, lower versus the yen but higher against the commodity currencies, on further signs of slowing US economic growth. The dollar index, rising for the first day in four, rose to 82.56 after finding the 82-area support. July consumer expectations dropped to the lowest level since March 2009 and June consumer prices declined for a third month.
Source: Hans Nilsson
16.07.2010
Dollar Plunges on US Economic Slowdown
The dollar dropped on Thursday as US industrial production, producer prices and manufacturing gauges all showed weaknesses. The S&P 500 rose 1.31 to 1,096.48, recovering from earlier losses as Goldman settled charges with SEC and BP seem to have stopped the oil leak. The yen advanced after the Bank of Japan maintained its key interest rate at 0.10%, as expected.
Source: Hans Nilsson
15.07.2010
GBP/USD Breaks Important Resistance
The dollar traded mostly lower against its counterparts on Wednesday. US retail sales declined for a second month. The Federal Reserve, while seeing the risks to US economic growth, saw no need to increase stimulus. “The economic outlook had softened somewhat and a number of members saw the risks to the outlook as having shifted to the downside,” minutes of the June 22-23 FOMC policy meeting released today showed, asserting that “the changes to the outlook were viewed as relatively modest and as not warranting policy accommodation beyond that already in place.”
Source: Hans Nilsson
14.07.2010
Economic Growth Optimism Pressures Greenback
The dollar fell versus most major currencies on Tuesday as global economic contraction concerns eased. Better-than-expected corporate earnings and growth in exports and imports suggest that the US economy continues to expand. Greece found better-than-expected demand for its treasury bills. The US dollar index fell to 83.50, about 5% off its June high.
Source: Hans Nilsson
13.07.2010
Debt Level Risk Pressures GBP/USD
The dollar rose against most major currencies on Monday ahead of upcoming European debt auctions and the beginning of the US Q2 2010 earnings season. The greenback was supported by Federal Reserve Bank of Richmond President Jeffrey Lacker’s comment that any consideration for further monetary easing is “very far away.” The S&P 500 gained 0.79 to 1,078.75.
Source: Hans Nilsson
12.07.2010
Signs of US Economic Slowdown Pressure Greenback
* The dollar fell on Tuesday on signs of a slowing US economy after data showed June US service industries expanded at the slowest rate in four months. The Globicus/qEcon Research US LEI declined in June, indicating the US economy is cooling significantly in H2 2010.
Source: Hans Nilsson
06.07.2010
EUR\USD bottoming
* The dollar was higher against the yen but lower versus the euro ahead of the 4th of July weekend. US nonfarm payrolls fell for the time this year and factory orders declined for the first time in nine months, signaling US economic growth is slowing. For the week, the USD fell versus the euro, yen, pound and Swiss franc while gaining against the Australian and Canadian dollars.
Source: Hans Nilsson
02.07.2010
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