The problems of Europe still plague markets and the unfavorable reports showed that the US manufacturing weakened. The resulting shift of markets to risk aversion mode was negative to the Canadian dollar.
SNB Keeps Rates Unchanged, Franc Climbs to New Record vs. Euro
June 16th, 2011 at 12:14
The Swiss National Bank left its main interest rates unchanged today and predicted that the inflation will grow. The Swiss franc jumped, reaching the new all-time high versus the euro.
Great Britain Pound Goes Lower as Retail Sales Slump
June 16th, 2011 at 11:19
The Great Britain dropped today after the report showed that the decline of retail sales in the UK last month was biggest that anticipated by analysts.
Swiss Franc Rallies vs. Euro on Protests in Greece
June 15th, 2011 at 22:50
The Swiss franc rallied against the euro as people in Greece are protesting against the austerity measures and Greece’s Prime Minister George Papandreou may resign. The currency slipped versus the US dollar and the Japanese yen.
Pound Slides on Rising Jobless Claims & Slowing Wage Growth
June 15th, 2011 at 11:36
The Great Britain pound tumbled today as the government reports showed that the number of unemployment claims unexpectedly increased and the wage growth slowed.
Debt Crisis Eats Away Euro’s Strength
June 15th, 2011 at 11:05
The euro slumped today, erasing this week’s gains against the US dollar, on concerns that the European Union leaders won’t be able to reach agreement about measures necessary to battle the debt crisis.
Pound Weakened by Slowing Inflation
The Great Britain pound weakened today as the reports showed that the core inflation slowed and the retail price index remained unchanged last month.
Improving Economy Pushes Dollar Down
June 14th, 2011 at 19:59
The US dollar fell today against higher-yielding currencies, but rose against riskier ones, as the macroeconomic data improved outlook for growth of the US economy. The US data combined with the reports from China sapped attractiveness of safer currencies to Forex traders.
China’s Economy Benefits Australia’s Dollar
June 14th, 2011 at 11:52
The Australian dollar gained today after the government reports showed that China’s economic growth accelerated and stocks jumped, increasing appeal of higher-yielding currencies.
Growing China’s Economy Saps Demand for Safety of Yen
The Japanese yen together with other safe currencies, including the US dollar and the Swiss franc, weakened against most major currencies today as the robust growth of China’s economy reduced investors’ demand for safety.