Posts Tagged ‘Speculations’

Unexpectedly Negative Payrolls Force Greenback Down

An employment report waited during all the week and released today frustrated analysts bringing weaker-than-expected figures for the U.S. economy, pulling the dollar down versus most of the 16 main traded currencies.After the non-farm payrolls report indicated that employers cut more jobs than forecasts suggested, the demand for dollar-priced and high-yielding currencies declined significantly in foreign-exchange markets as traders become more risk averse interpreting the pessimist data indicated in the U.S. employment figures. The euro gained sharply versus the dollar following the negative employment report, but declined in the hours following the publication.

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Norwegian Krone Falls From 16-Month High

The krone fell today from the highest rate since September 2008 as the nation’s government finally expressed concern regarding the currency’s strength, halting a rally versus the euro that started in the end of 2009.Norway’s Industry Minister Trond Giske affirmed today that the krone may become too strong, fueling speculations that the government may intervene if the currency continues to extend its gains, mostly fueled by renewed demand for crude oil, one of the country’s chief exports.EUR/NOK closed today at 8.1805 from an opening rate of 8.1622.If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.


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