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The Euro and British pound decrease
According to the latest forex trades data the Euro continues its fall that is caused by the many low economic numbers showing nothing but serious troubles in the Eurozone economy. The numbers provided by the manufacturing and services sectors showed a real decrease in these sectors and made the recession really possible.
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The USD received some support from decreased oil prices
The United States dollar kept its high positions supported by decreasing oil prices and several certain announcements from the Federal Reserve. The oil prices have decrease below the $130 a barrel point and the Charles Plosser at the Fed made his announcement concerning the possible inflation. Due to his words growing inflation could cause the Federal Reserve to increase interest rates before any recovery at the labor and financial markets and this is quite supportive for the USD. Moreover the USD was also supported from the announcement of the Hank Paulson – US Treasury Secretary who said about the importance of the strong currency.
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Canadian National profit is affected by forex and fuel costs
According to the latest data the Canadian National Railway issued the report showing 11 percent decrease of earnings for the second quarter of the year. The volume of the fall was diminished by the strengthened Canadian currency and growing fuel costs but still turned to be quite unexpected one.
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The USD becomes stronger
According to the latest forex trades data the United States dollar became stronger in relation to the Euro after the issue of quite positive US earning reports that provided a strong incentive for the stock market.
The Central bank of the US issued the earnings reports for the second quarter of the year that turned to be of $0.72 better than the expected $0.53. These news lead to the talks of banking sector of the country becomes more stable. Moreover the reports under consideration provided more than 6% growth of the Bank of America shares in pre-market trades. Thus the Euro decreased to the point of $1.5857 from previous $1.5908.
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The USD falls to its lowest point versus the Euro
The sharp fall of the USD in relation to the Euro was caused by the worries concerning the US mortgage market and its consequences for the country economy.
The intention of the US government to provide some emergency assistance to large mortgage companies – Fannie Mae and Freddie Mac caused sharp decrease of the confidence in this market and the hike of the Euro to the point of $1.6038. Members of the market suppose that the assistance to the mortgage companies will be nothing but additional several billions of dollars that will increase the national debt and thus decrease credit rating of the whole country.
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The USD decreased sharply in relation to the Euro
The United States dollar is still decreasing in relation to the Euro and it seems to reach its lowest point again. This was caused by the reason that the US Treasury intention to provide emergency assistance to the largest mortgage groups – Fannie Mae and Freddie Mac was not sufficient to settle down the rest of market members.
According to the last forex trades data the European currency comes to the point of $1.60 and the British pound increases over the $2.00 mark this is the first time the British currency has reached this point throughout current month.
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The USD keeps strong positions
According to the latest data the United States dollar remained unchanged and kept its strong positions after the government of the country provided efficient assistance to large mortgage companies – Fannie Mae and Freddie Mac.
Due to Hank Paulson – the US Treasury Secretary mortgage companies in a bad condition will get additional liquidity as well as promise for stakes to be purchased in case of the worsening of the general situation at the market.
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The USD remains unchanged
Asian forex trades finished with the firm United States dollar in relation to majors as the Federal Reserve made no surprises for the markets after the interest rate decision was taken. The interest rates remained unchanged as it was forecasted. The Fed’s officials repeated its fears about the possible growth of the inflation and gave no hints where the interest rates will move in future. The Federal Reserve make no changes in the level of interest rate even after the announcement of the European Central Bank to raise the rates in July.
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The USD increased ahead of the interest rate decision
The afternoon forex trades in Asia resulted in the growth of the United States dollar in relation to the Euro and Japanese yen. The reason of such growth trend was the talks concerning the possible declaration of the Federal Reserve its intention to increase the interest rates with the aim to constrain the inflation. The FOMC begins today the meeting that will end with the decision concerning the level of the new interest rate.
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The Euro keeps low positions
The forex trades resulted in low Euro after the European numbers showed a trend of decreasing economic data as the European Central Bank wishes to increase interest rates. For instance the German data (Ifo business climate index) decreased by over 2 points throughout the June and has reached the 101.3 point which turned to be quite below the forecasts provided by the experts. The same happened with expectations component that decreased to 97.2 point.
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