Dollar Continues to Beat Euro
Make it four straight days that the dollar has gained on the euro as the U.S. government and Federal Reserve continue efforts to increase confidence in the markets.
G7 2009 Economy Expected to Contract
Deutsche Bank AG today released an economic outlook predicting that the overall economy of the G7 countries will shrink by 1.1 percent in 2009, suggesting that central banks in the G7 nations will be forced to cut interest rates in order to spur consumption. While Canada is expected to show modest growth of 1.2 percent, the other G7 members are all expected to experience negative growth for the year ahead.
Loonie Continues its Flight South
The Canadian dollar had another losing day on news that wholesale sales figures in August fell for the first time in six months. Demand for Canadian exports – of which the U.S. is the largest buyer – have fallen in recent months and had forced the loonie down 11 percent in the month of October alone.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012