Archive for February 2011

Lower Unemployment in US Boosts Dollar

The US dollar advanced today after the report showed that the unemployment rate in the US unexpectedly dropped last month even though the non-farm payrolls were far worse than the experts promised because of the winter storms.

South African Rand Drops on Civil Unrest in Egypt

The South African rand dropped today as the tensions in Egypt threaten to fuel unrest in other countries of the region, causing uncertainty and risk aversion sentiment.

Asian Economic Growth Brings Malaysian Ringgit Higher

The Malaysian ringgit rose today as the economic growth in Asian region draws investors and causes the speculation that Asian nations will raise their interest rates to deal with the rapid growing inflation.

Dollar Gains as Service Industries Expand

The US dollar gained today, reversing its downward trend that was in place for past several days, after the set of the good economic data from the US was released, including the report about the service industries.

Euro Slumps as ECB Holds Interest Rates Unchanged

The euro tumbled today as the European Central Bank left the interest rates unchanged and the comments of bank’s President Jean-Claude Trichet caused the speculation that the rates will remain unchanged for the whole year.

Rising Services PMI Pushes Pound Further Up

The Great Britain pound rose today for a fourth day as the growth of the UK service industries in January was better than the economists predicted, reinforcing the outlook for a interest rates hike by Britain’s central bank.

Australian Dollar Rises with Mortgage Approvals & Trade Surplus

The Australian dollar went up today as the number of mortgage approvals surged and the trade surplus expanded more than predicted.

Ruble Gains as Brent Oil Trades Above $100

The Russian ruble strengthened after Brent crude oil rallied above $100, attracting investors to the assets of the biggest world energy exporter.

Loonie Gains as Crude Oil Climbs to Two-Year High

The Canadian dollar rose today as the prices for crude oil rallied to the highest level in two years and as the global economic recovery increased attractiveness of the currencies linked to growth.

Yen Weakens as Economic Recovery Progresses

The Japanese yen dropped today as the signs of the accelerating economic recovery decreased the attractiveness of the currency as a safe haven.

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