Greece struggles to escape downward spiral

Last Updated on Tuesday, 10 May 2011 12:25 Written by Elena Rajkovic Tuesday, 10 May 2011 12:25

Headlines has been covered with ‘Greece’ this past week as news of ridding the Euro and downgrade have been surfacing. In yesterday’s announcements Standard and Poor downgraded Greece from BB- to B while Moody’s is threatening to also downgrade the country in the near future.

Euro Drops versus the Dollar; while UK House Prices fall to a 7-month low

Last Updated on Monday, 9 May 2011 02:19 Written by Elena Rajkovic Monday, 9 May 2011 02:16

EUR/USD opened up this week’s trading session at 1.4359, also reaching 1.44. The Dollar went off its 3-year low and grew stronger than the Euro. The currency is keeping a pace along the lines of 1.43-44.

EUR/GBP dropped to 0.8789 from the 0.88 zone. GBP/USD is trading a little lower than the 1.6390- line that it was trading earlier, to trade to 1.6360- line.

Canada’s Jobless Claims reduced, with more than 50K added jobs

Last Updated on Friday, 6 May 2011 02:49 Written by Elena Rajkovic Friday, 6 May 2011 02:49

Canadian Jobless Rate came out with good news of 7.6% from the predicted 7.7%. Unemployement rate has lowered, and 58.3K jobs were created in April; much more than what analysts forecasted at 18.3K.

UK PPI data higher than expected

Last Updated on Friday, 6 May 2011 02:49 Written by Elena Rajkovic Friday, 6 May 2011 02:39

UK Producer Price Index (PPI) data showed a turn towards the good side as Input prices were release at 2.6%, 0.9% more than the estimated value (1.7%). Although lower than the previous month’s 3.8%, the Streling showed positive attitute and gained both against the Dollar as well as the Euro.

Canada’s Building Permits and Ivey PMI

Last Updated on Thursday, 5 May 2011 05:13 Written by Elena Rajkovic Thursday, 5 May 2011 05:12

It has also been an important day for the Canadian Dollar as news reports about Building Permits and Ivey PMI were released; both capable of manipulating the CAD.