Swedish Krona Falls as Manufacturing Declines

The Swedish krona fell in the report showed that manufacturing contracted in Sweden last month, reinforcing the view that the central bank could cut interest rates. The manufacturing index fell to 48.7 from 50.1 in August Swedbank in July, while the average forecast was 49.8. A reading below 50.0 indicates decreased. That was the first decline...

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US Manufacturing Expands, Dollar Profits

The U.S. dollar advanced today as the unexpected growth in the U.S. manufacturing spurred speculation the Federal Reserve will not need to stimulate the economy by debasing the U.S. currency. The Institute for Purchasing Managers Index Supply Management "was at 56.6 in August, with little change in the July figure of 56.9. The index is expected...

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Australian Retails Sales Go Up, Aussie Follows

The Australian dollar advanced today against the euro and Japanese yen after the report showed that retail sales in July rose more than expected. Australia retail sales rose 0.5 percent in July, while growth was 0.3 percent forecast. Retail sales fell 0.1 percent in June. MSCI Asia Pacific index gained 0.7 percent and the Standard &...

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Franc Rallies as SNB Doesn’t Intervene

The Swiss franc gained for a second day today, yesterday broke his three-day drop against the U.S. dollar and the euro, as the Swiss National Bank has announced new measures to curb the strength of the franc. Previously, the Swiss currency was swept by speculation that the central bank parity of the franc to the euro's performance. Market...

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