Pound appreciates against Euro

Source: Bloomberg
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On Friday British pound appreciated against Euro as investors perceived UK's national currency as safe haven amid Eurozone's debt fears. The Pound appreciated versus 14 of 16 it major counterparts. Sterling gained 0.7% reaching ВЈ0.8553  versus EUR. Jane Foley, Rabobank International's senior strategist believes the sterling may appreciate towards euro reaching ВЈ0.8485. The pair currently is trading at ВЈ0.8555.

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Mon, 28 Nov 2011 09:04:46 GMT

Chinese corporate profit growth shrinks amid property curbs

In October Chinese corporate profit growth slowed down, said the National Statistics Bureau. The net income for industrial companies added 12.5% in October on yearly basis losing about a half the 27% pace from previous 3 quarters this year. Corporate profit growth in China is sluggish as Europe struggles to tackle its debt crisis which is hurting exports demand.

Fri, 25 Nov 2011 15:01:53 GMT

Canadian dollar reaches 7-week low on global anxiety

Canadian dollar fell against US dollar to a 7-week record low as surging Italian yields signalled that European debt crisis is deepening. According to Hidetoshi Honda, the strategist of Mizuho Corporate Bank, the sentiment towards Eurozone's debt is plunging every day. Canada's national currency lost 0.4% against its US peer and reached C$1.0515 in Toronto morning trading session. The pair currently trades at C$1.0494. 

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