The dollar rebounded to pare some of its recent losses on Friday, as slumping stocks and violence in Egypt helped boost the greenback’s safe haven appeal.
Traders shrugged off a mixed bag of economic data from the U.S., including a government report showing slower than expected GDP growth in the fourth quarter.
The dollar rose to $1.3600 versus the euro, moving away from yesterday’s 2-month low of $1.3757.
Late morning gains took the dollar to within a hair of parity versus its petro-linked Canadian counterpart, even as the price of oil jumped on supply concerns.
At the same time, the buck improved to $1.5840 compared to $1.5975 earlier today.
However, Japan’s yen garnered the most safe haven interest, causing the buck to slip back to Y82 from Y83.
Egypt’s army has been called in to downtown Cairo to quell protests aimed at replacing the nation’s political leadership. Its is feared that civil unrest could spread elsewhere in the Arab world, destabilizing the oil-rich Middle East.
Here in the U.S., the economy grew at a 3.2 percent annual rate in the final three months of 2010, the Commerce Department said, after expanding at a 2.6 percent pace in the third quarter. Economists expected the economy to grow between 3.5 and 3.7 percent.
Consumer spending in the world’s largest economy rose the most in four years, but the increase gross domestic product failed to generate enough jobs to improve the jobs situation.
Meanwhile, a reading of consumer sentiment fell from December, but was stronger than analysts expected.
The Reuters and the University of Michigan consumer sentiment index for January was upwardly revised to 74.2 from the preliminary reading of 72.7. The index is well above expectations for a reading of 73.0 but is still just below the December reading of 74.5.
You’ve made some good points there. I checked on the web to find out more about the issue and found most people will go along with your views on this web site.
You actually make it appear so easy with your presentation however I to find this topic to be
actually something that I believe I might never understand.
It sort of feels too complicated and very large for me.
I am looking forward on your next submit, I’ll attempt to get the
grasp of it!
Admiring the commitment you put into your website and detailed
information you present. It’s great to come across a blog every once in a while that isn’t the same unwanted
rehashed information. Excellent read! I’ve bookmarked your site and I’m including your RSS feeds to my Google account.
Today, I went to the beach front with my children.
I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and
screamed. There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is totally off topic but I had to tell
someone!
It is perfect time to make a few plans for the longer term
and it’s time to be happy. I’ve learn this publish and if I may just I wish to recommend you few
attention-grabbing issues or suggestions. Perhaps you can write subsequent articles relating to this article.
I desire to read more things about it!
All the time hold your entire jewelry organized in a means that is smart to you.
Nice blog here! Alsso your site loads up fast! What web
hoswt are you using? Cann I am getting your affiliate hyperlink in your host?
I want mmy web site loaded up aas fast ass yours lol
Aw, this was a really nice post. Spending some time and actual effort
to make a top notch article… but what can I say… I procrastinate a
whole lot and never manage to get anything done.
Hey there would you mind letting me know which web host you’re using?
I’ve loaded your blog in 3 completely different browsers and I must say this blog loads a lot faster then most.
Can you suggest a good hosting provider at a reasonable price?
Cheers, I appreciate it!
Nice post. I used to be checking constantly
this weblog and I’m inspired! Extremely helpful info particularly the remaining phase 🙂
I maintain such info much. I used to be seeking this particular info for a long
time. Thanks and good luck.