Mecklai graph of the day - Performance of Greenback
Mecklai graph of the day - Last week, US dollar weakened across the board amid poor economic batch of data that released during the week and strength in equities due to better corporate earnings.
April 30, 2012 / 18:45 IST
Mecklai graph of the day - Performance of Greenback
The below graph shows the performance of US dollar versus major currencies, precious metal, crude oil, commodity currencies and Rupee. Although, in the month of April, greenback remained weaker across the board expect Euro and Gold gaining half percent each & against Rupee 2.60%.Last week, US dollar weakened across the board amid poor economic batch of data that released during the week and strength in equities due to better corporate earnings. In addition, Fed chairman Bernanke stated in FOMC policy meet that they are ready to take more actions if US economy weakens. This was confirmed after US economy grew a mere 2.2% annualized rate in Q1, slowed from 3% in Q4. Meanwhile, other batch of economic data indicated similarly such as business spending fell for the first time since Q4 of 2009, Initial jobless claims dropped from upwardly revised 389K the highest level in three months, durable goods orders dropped in March and Consumer confidence missed market expectation fueling firm expectations of QE3. Meanwhile, on Rupee front the currency underperformed largely due to macro economic and political issues. In addition to the non-farm payrolls report, personal income, personal spending, manufacturing and non-manufacturing ISM numbers are also scheduled for release this week. Should the batch of data disappoints, equities extending its rally and ease in Euro debt crisis will further drag the dollar down across the board while against Rupee will remain range bound.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
