agha

Time line blog#8
January 22nd 2009
Due to typical inflation America as well as Japan, England and Europe were facing unemployment. Investors were trying to seek safety because of yielding low currency.
February 2nd 2009
Dollar value was dropped and Euro showed up by 7%. Due to economic atrophy inflation, people are disappointed being at risk for loss of job.
February 10 2009
Due to anomaly situation Obama decided to announce stimulus package in order to keep the economy on track.
February 16 2009
Exchange rate movement in USA was volatile because of the national holiday. Furthermore, peripheral European government remained negative background for Euro due to rising cost of insuring against default.
February 24 2009
Dollar mixed up with European currency and it looks like strong against Yen. When there is turmoil against broader market, dollar boosts. S&P national home price index fell to 18.2%.
March 03 2009
Anxiety of global economy continued to enhance safe status of USA currency. Overall infraction in currency seemed to be in Euro and pound.
March 12 2009
Foreign exchange market faced the growing risk of deflation. Switzerland was facing worse recession over three decades. Swiss franc fell against euro; it was one of world’s most traded currencies at times for investors.

agha

 http://money.cnn.com/2009/03/12/markets/dollar.reut/index.htm      

                               Currency report

According to March 12 currency report shows that USA dollar and Euro jumped against Swiss franc. Foreign exchange market faced the growing risk of deflation.  Switzerland was facing its worst recession in over three decades.  In New York trading, dollar rose 2.96% against Swiss franc. Swiss franc is one of the world’s most traded currencies at times for investors. SNB’s move to zero rates and quantitative easing was expected immediate move to intervene was surprise to traders. SNB’s news overshadowed all the events and data in the market including USA retail sales numbers that were better than expected. Against the yen, the dollar erased early losses. Economy down fall still disappointed many of being jobless. Investors were still trying to find the abrupt progress.

agha 02/02/2009 blog re built

http://money.cnn.com/2009/02/02/markets/dollar/index.htm

As of February 02/2009, according to CNN news USA dollar mixed against rival currencies. Dollar value has fallen down, and where as Euro showed up 7% up and pound sank to 1.6% against dollar. ECB current lending rate stands at 2%, where as bank of England key rate sits at 1.5%. Bank of England expected to cut its key, where as European central bank is expected typically to keep its lending rate key on hold. Due to economic atrophy inflation, people are disappointed being at risk for loss of jobs. Everybody is trying to get out of that bad situation and hoping to have economy better soon.

agha

http://money.cnn.com/2009/03/05/markets/dollar.reut/index.htm

As of march 05 2009 dollar rose broadly. Where as central bank in Britain and Europe zone cut borrowing costs. While on the other hand anxiety of global economy continued to enhance safe status of USA currency. President Jean Claude of European central bank said euro zone growth was likely to be weak throughout 2009. Early in New York Euro was trading down 1.2%, where as pound was .5% off. ECB said, now it seemed that euro zone growth contracting anywhere from 2.2% to 3.2% this year, mild recovery is seen only in 2010. Europeans were convincing to have consistent weakness of growth through out the year. Overall infraction in currency seemed to be in Euro and Pound.