Tag Archives: manufacturing

Canadian Dollar

U.S. Economic Growth Pulls Canadian Dollar Out of Slump

The U.S., Canada’s largest trading partner, experienced a the second greatest boost in its manufacturing industry in over two years last December that drove the Canadian dollar against most of its peers.

The loonie fell against the greenback after momentarily rising with American claims for unemployment benefits falling to their lowest in a month. Increased exports will determine the strength of economic growth, according to the Governor of the Bank of Canada, Stephen Poloz. Canada’s biggest exporting commodity, crude oil, drop to the lowest level in a month.

Economic analysts are looking to the U.S. economy for clues on the improvement of the Canadian dollar on the expectation that Canada can get a lift on an outperforming American economy. In 2013 the Canadian dollar lost an overall 6.6 percent, experiencing its biggest decline in five years.

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Pink Piggy Bank On Top Of A Pile Of One Dollar Bills

Rising Global Manufacturing Drops U.S. Dollar’s Value

Data from around the globe have been showing signs of a worldwide manufacturing recovery that has cost the U.S. dollar its demand as a safe currency following its biggest rise in half a year through the month of November.

The currency dropped against all 16 of its major peers China’s figures the last couple of days showed an expanding manufacturing industry last month. A possible fifth-straight period of a growing European manufacturing industry pushed the euro up, as the British pound jumped before data for U.K. factory outputs are expected to record the eight month of advance.

The broad weakness experienced by the greenback indicates an increased risk threshold for investors as they move away from the perceived security of the U.S. dollar as Chinese manufacturing numbers improved more than anticipated.

On the Bloomberg U.S. Dollar Index, which monitors the greendback against 10 major peers, dropped 0.1 percent to 1,019.51 as of 7 a.m. in London after rising 0.9 percent in the previous month, the most since May

The U.S. dollar changed slightly against the yen at 102.43 yen and slipped 0.1 percent to $1.3603 per euro. The European currency increased 0.1 percent to 139.33 yen after increasing 4.2 percent in November. The pound rallied 0.3 percent to $1.6414 after reaching $1.6443, the strongest since August 2011.

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stock Market Board

Euro Stoxx 600 Trims Four-Week Gain

European stocks declines halting the four-week gain of the Stoxx Europe 600 Index, due to investors’ expectation that U.S. manufacturing growth slowed.

The Stoxx 600 fell 0.2 percent to 321.7 at 10:54 a.m. in London. The gauge has gained 0.5 percent this week, as it closed at its highest level yesterday level since May 2008, as the Federal Reserve refrained from curbing stimulus measures and as companies from BNP Paribas SA to Volkswagen AG reported better-than-forecast profit.

The release of the Supply Management’s manufacturing index recorded a decrease yesterday to 55 for last month from September’s 56.2, which was the strongest since April 2011. Investors eagerly awake data next week to gauge the health of the U.S. economy following the announcement of the Federal Reserve this more evidence of sustained growth is needed before restricting the amount of its monthly bond purchasing.

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ArcelorMittal Logo

ArcelorMittal to Rise with Recovering Eurozone

The sares of ArcelorMittal (MT), the world’s biggest steelmaker, are set to rebound as European manufacturing exits an almost two-year downtrend.

A recovery in the Eurozone Manufacturing PMI Markit Survey Ticker pushed the gap between the index and ArcelorMitta’s hare price to the most since Laksmi Mittal eclipsed Arcelor SA in 2006. With the ending of a recession in September car sales rallied the most in more than two years.

ArcelorMittal decreased its 2013 earnings forecast last August due to lower-than-expected demand in the U.S. and Europe. In 2013, the shares of the European steel industry have declined 4.3 percent.

The European PMU survey, however, surpassed the level of 50 in July for the first time in two years, signifying an increase in manufacturing in comparison with the previous moth.

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