|The JPY was poised for a fourth monthly gain versus the USD, the longest winning streak in more than 18 months, as concerns the global economic recovery is faltering boost demand for JPY and was also set to complete monthly advances against all of its 16 major counterparts before data this week forecast to show US jobs fell and after a New Zealand finance company filed for receivership. Japan’s…|
Archive for August, 2010
SeaDrill Ltd., an offshore deepwater drilling company, Tuesday reported a decline in its profit for the second quarter despite higher revenues. The decline reflected higher operating costs and tax expenses as well as a loss on derivative financial instruments.
As economic activity in Canada is expected to expand for the fourth consecutive quarter, the 2Q GDP report could lead the USD/CAD to retrace the advance from earlier this month as investors expect the central bank to normalize monetary policy further in September.