A day after Ben Bernanke helped bolster the strength of the U.S. dollar by not mentioning any more plans for quantitative easing, the greenback fell back to earth, trading mixed against other major currencies.
Most of the important economic news centered on unemployment, which in the United States remained level, dropping only slightly, while unemployment in the Euro zone climbed to its highest level since the introduction of the Euro as a currency in 1999.
Of the 17 countries using the Euro as currency, unemployment plunged to 10.7 percent for January, pushing it down against the dollar to $1.3316 in the latter part of the trading day.
The British pound climbed against the U.S. dollar from $1.5925 to $1.5953.
Other currencies strengthening against the dollar were the yen and the Canadian dollar. The dollar fell from 81.18 yen to 81.08, and from 98.89 Canadian cents to 98.57 Canadian cents.
Against the Swiss franc the U.S. dollar climbed from 0.9039 to 0.9059.
Showing posts with label Canadian dollar. Show all posts
Showing posts with label Canadian dollar. Show all posts
Thursday, March 1, 2012
Tuesday, June 8, 2010
US Dollar Down on Risk Appetite
The US dollar continues to move up and down with the risk flavor of the day, as today it was a move by traders to being more risk oriented, and consequently the greenback fell in value as a result against other major currencies.
Currencies linked to commodities peformed against against the US dollar, while the British Pound weakened against the dollar.
While the UK isn't focused on as much in relationship to the European Union because they still have their own currency, it is in danger of losing its AAA debt rating according to Fitch Ratings, as their slow response in implementing austerity measures is causing investors to lose confidence in the Pound.
The Canadian, Australian and New Zealand dollars did well today because of their link to commodities, after taking a beating lately because of risk concerns related to raw materials.
Currencies linked to commodities peformed against against the US dollar, while the British Pound weakened against the dollar.
While the UK isn't focused on as much in relationship to the European Union because they still have their own currency, it is in danger of losing its AAA debt rating according to Fitch Ratings, as their slow response in implementing austerity measures is causing investors to lose confidence in the Pound.
The Canadian, Australian and New Zealand dollars did well today because of their link to commodities, after taking a beating lately because of risk concerns related to raw materials.
Thursday, October 8, 2009
Dollar Index Slides to Lowest in 14 Months
The Dollar Index has fallen to its lowest level since August 2008, dropping to 75.767. The Dollar Index measures the U.S. dollar against the Canadian dollar, Swedish krona, Swiss franc, yen, pound and euro.
Low interest rates and U.S. dollar value have investors treating the greenback as a carry trade, and are selling of their dollars in order to get better returns on higher-yielding currencies.
While the U.S. asserts they want a strong dollar, their practices contradict that assertion, and foreign countries are concerned over their own manufacturing bases which are dependent on a stronger dollar to sell goods in the U.S. at a decent profit.
Of course U.S. manufacturers would like a weak dollar to continue, as that would help prop up the industry; strengthening it and eventually creating more jobs, while also shrinking trade deficits.
Low interest rates and U.S. dollar value have investors treating the greenback as a carry trade, and are selling of their dollars in order to get better returns on higher-yielding currencies.
While the U.S. asserts they want a strong dollar, their practices contradict that assertion, and foreign countries are concerned over their own manufacturing bases which are dependent on a stronger dollar to sell goods in the U.S. at a decent profit.
Of course U.S. manufacturers would like a weak dollar to continue, as that would help prop up the industry; strengthening it and eventually creating more jobs, while also shrinking trade deficits.
Tuesday, August 19, 2008
Weaker US Dollar and Related News
Dollar slides on higher US inflation, oil gain
FOREX-Profit-taking, weak stocks drag US dollar lower
U.S. inflation pressures mount
Dollar Gives Crude a Lift
The Dollar, Oil and Airlines: A Nice Relationship Until The Government Steps In
Gold firms as US dollar eases but uncertainty remains
Gold ends up; weak dollar fuels commodities rally
Canada's Dollar Rises as US Dollar Falls, Commodities Rebound
Canada's Dollar Rises as US Dollar Falls, Commodities Rebound
FOREX-Profit-taking, weak stocks drag US dollar lower
U.S. inflation pressures mount
Dollar Gives Crude a Lift
The Dollar, Oil and Airlines: A Nice Relationship Until The Government Steps In
Gold firms as US dollar eases but uncertainty remains
Gold ends up; weak dollar fuels commodities rally
Canada's Dollar Rises as US Dollar Falls, Commodities Rebound
Canada's Dollar Rises as US Dollar Falls, Commodities Rebound
Monday, April 28, 2008
US dollar Drops Again, Federal Reserve Decision Looming
The US dollar declined again against several major currencies, as most markets look toward the decision of the Federal Reserve later in the week, which most expect will cut the rate by a quarter point. Even so, the unsurety of what the Fed will do has investors holding back on the greenback until the decision is revealed.
Performing strongly against the dollar was the euro again, which climbed to $1.5645, an increase over the $1.5593 in New York on Friday. The British pound also did well, rising to $1.9900, up from $1.9818.
Also gaining was the Swiss franc, with the dollar buying 1.0353. That was down from what the dollar bought on Friday: 1.0367. The Candian looney also strengthened, ending at 1.0119, in contrast to 1.0164 the U.S. dollar bought on Friday as well.
Another factor in the ongoing weakening of the dollar is the high inflation in Europe, which pretty much guarantees rates won't be cut over there.
Most think there will be a cut on Wednesday by the Fed, and that they'll probably hold cuts for some time.
Performing strongly against the dollar was the euro again, which climbed to $1.5645, an increase over the $1.5593 in New York on Friday. The British pound also did well, rising to $1.9900, up from $1.9818.
Also gaining was the Swiss franc, with the dollar buying 1.0353. That was down from what the dollar bought on Friday: 1.0367. The Candian looney also strengthened, ending at 1.0119, in contrast to 1.0164 the U.S. dollar bought on Friday as well.
Another factor in the ongoing weakening of the dollar is the high inflation in Europe, which pretty much guarantees rates won't be cut over there.
Most think there will be a cut on Wednesday by the Fed, and that they'll probably hold cuts for some time.
Thursday, April 24, 2008
US dollar Strengthens Against Most Major Currencies
With the exception of the Canadian dollar, the U.S. dollar gained against the major currencies today, including its best performance against the euro since December 2007. The euro finished down 0.0209 to end at 1.5679 against the U.S. dollar.
The U.S. Dollar Index ended up by 0.757 points to finish at 72.575. The Index measures the US dollar against the Canadian dollar, pound sterling, Swedish krona, Japanese yen, and euro.
"Now that we tried and failed to stay above $1.60 in euro/dollar, it looks like we're coming back to the bottom," said Brian Dolan, head of research at consultancy Forex.com, in Bedminster, New Jersey. "The U.S. data today is pretty clearly dollar positive and we're coming off some weaker European data."
The Zurich-based UBS AG looks at the euro's performance against the dollar to fall in the range of $1.47 in three months, while within a month it projects it to be at about $1.55.
Better-than-expected employment news and strengthening of the dollar has investors and analysts wondering which way the Fed will go at their meeting next week as far as rate cuts go. It looks like it could be a toss up whether the expected quarter-percentage-point cut will come.
The U.S. Dollar Index ended up by 0.757 points to finish at 72.575. The Index measures the US dollar against the Canadian dollar, pound sterling, Swedish krona, Japanese yen, and euro.
"Now that we tried and failed to stay above $1.60 in euro/dollar, it looks like we're coming back to the bottom," said Brian Dolan, head of research at consultancy Forex.com, in Bedminster, New Jersey. "The U.S. data today is pretty clearly dollar positive and we're coming off some weaker European data."
The Zurich-based UBS AG looks at the euro's performance against the dollar to fall in the range of $1.47 in three months, while within a month it projects it to be at about $1.55.
Better-than-expected employment news and strengthening of the dollar has investors and analysts wondering which way the Fed will go at their meeting next week as far as rate cuts go. It looks like it could be a toss up whether the expected quarter-percentage-point cut will come.
Friday, April 4, 2008
Weekend Eye on the U.S. Dollar
Dollar News around the Web
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Dollar Falls Versus Euro as Job Losses Raise Recession Concern
The dollar fell against the euro and dropped the most versus the yen in a week as a government report showed the U.S. lost jobs for a third straight month in March, increasing concern the economy is falling into a recession.
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U.S. payrolls data push down dollar
The U.S. dollar fell to session lows Friday after the economy lost more jobs than economists had forecast, putting a renewed spotlight on worries about the depth of the U.S. economic downturn.
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50 million Zimbabwean dollar is one US dollar
The Reserve Bank of Zimbabwe (RBZ) has introduced a new note worth 50 million Zimbabwean dollar to deal with rampant shortages of cash in an economy that is also grappling with the world's highest inflation rate of over 100,000 percent.
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Canadian dollar ends winning week on a lower note
The Canadian dollar closed lower versus the U.S. dollar on Friday as data showed job growth moderated in Canada in March after two solid months, but the currency still ended the week with a 1.2 percent gain.
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US dollar futures offer on Indian stock exchange
The US Futures Exchange will start offering today (April 4) the first US-dollar denominated futures contract linked to India’s SENSEX stock index. The USFE has exclusively licensed the Bombay Stock Exchange’s benchmark SENSEX Index for US dollar-denominated futures trading.
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The falling dollar and remittances
The impact of the dollar depreciation on remittance flows to developing countries has emerged as a serious subject of study amongst economists and policy analysts. In particular, the impact of remittance flows for the Philippines, Mexico and India, the three countries among the largest remittance-recipients, is of immediate concern for economists and policy planners.
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Dollar Falls Versus Euro as Job Losses Raise Recession Concern
The dollar fell against the euro and dropped the most versus the yen in a week as a government report showed the U.S. lost jobs for a third straight month in March, increasing concern the economy is falling into a recession.
=====
U.S. payrolls data push down dollar
The U.S. dollar fell to session lows Friday after the economy lost more jobs than economists had forecast, putting a renewed spotlight on worries about the depth of the U.S. economic downturn.
=====
50 million Zimbabwean dollar is one US dollar
The Reserve Bank of Zimbabwe (RBZ) has introduced a new note worth 50 million Zimbabwean dollar to deal with rampant shortages of cash in an economy that is also grappling with the world's highest inflation rate of over 100,000 percent.
=====
Canadian dollar ends winning week on a lower note
The Canadian dollar closed lower versus the U.S. dollar on Friday as data showed job growth moderated in Canada in March after two solid months, but the currency still ended the week with a 1.2 percent gain.
=====
US dollar futures offer on Indian stock exchange
The US Futures Exchange will start offering today (April 4) the first US-dollar denominated futures contract linked to India’s SENSEX stock index. The USFE has exclusively licensed the Bombay Stock Exchange’s benchmark SENSEX Index for US dollar-denominated futures trading.
=====
The falling dollar and remittances
The impact of the dollar depreciation on remittance flows to developing countries has emerged as a serious subject of study amongst economists and policy analysts. In particular, the impact of remittance flows for the Philippines, Mexico and India, the three countries among the largest remittance-recipients, is of immediate concern for economists and policy planners.
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Thursday, April 3, 2008
Volatility Should Continue for U.S. Dollar
The U.S. dollar was mixed today, as it fell strongly against the Canadian and Australian dollar, and the British pound.
It did manage to gain against the euro based on Eurozone Retail Sales, which fell by 0.5 percent. It also gained strongly against the New Zealand dollar, as the ANZ Commodity Price index reached a record high.
We'll get a better picture of the effects on the U.S. dollar with the various reports set to be released on Friday, as Non Farm Payrolls figures will come out, followed by Non Manufacturing Payroll and the Unemployment rate.
A report on the Average Hourly Earnings will also be released, giving a snapshot of the overall, general economic picture.
Friday, March 28, 2008
US Dollar News around the Web
Weekend roundup on US Dollar News
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Dollar rebounds as U.S. economic growth meets expectations
The dollar rebounded slightly against most major currencies on Thursday as U.S. economic growth in the fourth quarter met market expectations.
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Canadian dollar closed 0.29 of a cent lower at 97.90 cents US
The Canadian dollar closed at 97.90 cents US on Friday, down 0.29 of a cent. The U.S. dollar stood at 102.15 cents Cdn, up 0.31 of a cent.
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US Dollar Consolidates Losses as Easing Price Pressures Boost Fed Rate Cut Expectations
Rising risk aversion paired with slowing inflationary pressures heightened US dollar volatility as it swayed throughout the trading session. Against the European currencies, the US dollar moved slightly lower against the euro as investors increased their bets of another rate cut by the Fed, while it accelerated against the British Pound as growth prospects look dim for the UK.
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Dollar down on US GDP
It was in line with market expectations, which helped promote buying of the US dollar and resulted in the dollar drifting slightly lower from its close on the local session yesterday.
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Currency falls on central bank warning
The New Taiwan dollar dropped nearly three-quarters of a percent against the greenback yesterday after the central bank showed its determination to prevent speculative attacks on the local currency, dealers said.
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Is the Dollar Depressing Drug Companies?
In the past two weeks, the Federal Reserve cut the primary discount rate from 3.5% to 2.5%, on top of a large rate cut in January. In anticipation of and because of these rate cuts and a worsening economy, the U.S. dollar
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Dollar rebounds as U.S. economic growth meets expectations
The dollar rebounded slightly against most major currencies on Thursday as U.S. economic growth in the fourth quarter met market expectations.
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Canadian dollar closed 0.29 of a cent lower at 97.90 cents US
The Canadian dollar closed at 97.90 cents US on Friday, down 0.29 of a cent. The U.S. dollar stood at 102.15 cents Cdn, up 0.31 of a cent.
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US Dollar Consolidates Losses as Easing Price Pressures Boost Fed Rate Cut Expectations
Rising risk aversion paired with slowing inflationary pressures heightened US dollar volatility as it swayed throughout the trading session. Against the European currencies, the US dollar moved slightly lower against the euro as investors increased their bets of another rate cut by the Fed, while it accelerated against the British Pound as growth prospects look dim for the UK.
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Dollar down on US GDP
It was in line with market expectations, which helped promote buying of the US dollar and resulted in the dollar drifting slightly lower from its close on the local session yesterday.
=====
Currency falls on central bank warning
The New Taiwan dollar dropped nearly three-quarters of a percent against the greenback yesterday after the central bank showed its determination to prevent speculative attacks on the local currency, dealers said.
=====
Is the Dollar Depressing Drug Companies?
In the past two weeks, the Federal Reserve cut the primary discount rate from 3.5% to 2.5%, on top of a large rate cut in January. In anticipation of and because of these rate cuts and a worsening economy, the U.S. dollar
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