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.
Thanks for sharing your thoughts on Forex News. Regards
Hey There. I found your blog using msn. This is an extremely well written article.
I will be sure to bookmark it and come back to read more of your
useful information. Thanks for the post. I’ll definitely
comeback.
Greetings from Ohio! I’m bored to tears at work so I decided to browse your site on my iphone during lunch break.
I love the info you present here and can’t wait to take
a look when I get home. I’m surprised at how fast
your blog loaded on my phone .. I’m not even using WIFI, just 3G ..
Anyhow, superb blog!
Mobile games development companies are also coming up with creative solutions for businesses to help
them achieve the objectives. However, you should remember that there are certain rules for players to make it possible.
Studies show that kids who play games improve their reflexes, concentration and analytical ability by
notches. Don’t procrastinate and get Xbox 360 game backup
software right now, it will definitely safe you money
in the long run.
Our CPR coaching is offered in partnership with the
Heart & Stroke Foundation of Canada, and meets Heart & Stroke Foundation of
Canada guidelines.
Magnificent beat ! I wish to apprentice while you amend your site, how can i subscribe for a weblog web site?
The account helped me a applicable deal. I had been a little
bit familiar of this your broadcast offered shiny clear idea
I am sure this article has touched all the internet viewers, its really really nice piece of writing on building up new
weblog.
Tennis bracelet – Bracelet made up of individually set gemstones of uniform
dimension and colour linked together like a chain so it’s versatile.
I love your blog.. very nice colors & theme. Did you design this
website yourself or did you hire someone to do it for you?
Plz reply as I’m looking to create my own blog and would
like to find out where u got this from. thank you
The problems with your house require to be solved. With Father’s Working day right about the corner, there’s no require to panic.
Either way you appear at it, only you are accountable for your present and long term.