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Currency and Financial Newswire
Continuously updated throughout the day...
USD & CAD - World Market Update Thursday, April 27, 2006.
Currency Exchange
- In a surprise move to slow down unprecedented economic growth, China's central bank this morning raised interest rates for the first time in 14 months to 5.85% from 5.58%. The action by the Bank is in response to an economy that grew in the first quarter by an amazing 10.2% after expanding by 9.9% last quarter of 2005. The rate is the minimum that the Bank must charge on a one year loan and is designed to ease not only economic growth, but inflationary pressures that are building throughout the country...
AUD - Australian Currency News Update Thurday, April 27, 2006
Currency Converter News
- The Australian dollar climbed almost a cent against the greenback overnight as it pushed aside strong resistance levels at 0.7480 and 0.7500. The Australian Bureau of Statistics released the consumer price index yesterday. It increased by 0.9% for the March quarter and 3% annually, which was stronger than expectations. Trading was fairly choppy after the release. The Aussie initially rose 15 points but then dropped 30 points...
FOREX News for Thursday, April 27, 2006
China surprises markets with rate rise
China moved to tackle a surge in new bank loans and investment by lifting the benchmark one-year lending rate by 0.27 per cent, sparking a sell-off by investors worried that the rise signalled a slowdown in the Chinese economy.
Financial Times
US growth to moderate later in year, says Bernanke
US economic growth will moderate later this year towards a “more sustainable pace�, Ben Bernanke, Fed chairman, told Congress. He also hinted the Fed would soon pause in its series of interest rate rises.
Financial Times
Bernanke comments weaken dollar
News from central banks of China and the US battled for ascendancy in the currency market, and it was Washington that ultimately had the most effect on the world’s largest market.
Financial Times
Dollar Weakens After Fed's Bernanke Says Central Bank May Pause on Raises
April 27 (Bloomberg) -- The dollar fell to a three-month low against the yen and dropped a fifth day versus the euro after Federal Reserve Chairman Ben S. Bernanke said the central bank may pause in its interest-rate increases. Traders dumped the dollar a
Bloomberg
China Rate Hike Aims to Slow Economy
AP (Thu 11:58am)
Euro Hits Highest Level in Seven Months
AP (Thu 12:11pm)
Stocks rise as Bernanke says Fed may pause
Reuters (Thu 12:45pm)
GlaxoSmithKline 1Q Net Profit Up 25 Pct.
AP (Thu 12:47pm)