Posts Tagged ‘US Dollar’
Currency Articles - November 15, 2010 18:10
Retail sales figures in the worlds largest economy rose 1.2% today after climbing 0.7% last month. Stock markets have surged on this good news up 0.45% on the close as investors gain confidence in the US markets. The rise in retail sales was led by car sales and non-store retailers, both indicate that consumer demand […]
The BoE inflation report led to a significant Sterling rally accross the board due Hawkish comments stating that consumer prices are around target in the medium term. The report went on to say that there was a high probability that the BoE Chancellor Mervyn King would have to write an inflation letter to the Chancellor […]
Sterling has continued to outperform most of its rivals in trading today, the notable exception is the USD, which now appears to be gaining some form of momentum for a reversal on cable and the EUR/USD pair. This can be attributed to todayâ€™s durable goods orders in the worldâ€™s largest economy jumping 3.3% in September […]
Today we have seen some respite for the USD. The Dollar has made gains against most currencies today as US Treasury Secretary, Timothy Geithner has said that the US will work to preserve confidence in a strong currency and will not work to devalue their currency.
Employers in the US have cut considerably more jobs than expected, cutting 95,000 jobs leaving the current unemployment rate in the US at 9.6%. Following this announcement the global stock markets have declined pulling back some of the gains gathered this week so far.
Last week saw significant volatility in FX markets, the Euro gained against both Sterling and the US Dollar despite problems in Ireland and the announcement of an Allied Irish Bank bailout package set to cost the Irish tax payer â‚¬50 billion.