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Day: August 23, 2012
August 232012
Fed Stimulus Expectations Weigh on US Dollar against the Euro
US dollar is weakening today as the Federal Reserve stands ready to implement more stimulus if it feels the economic situation warrants it. Even though some of the greenback’s earlier losses have been pared a little bit, euro is still stronger as the prospect of a weakening dollar becomes more realistic. Greenback has turned lower, thanks to a combination of economic data, and the FOMC minutes. The minutes of the latest meeting, released yesterday, […]
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August 232012
Turkish Lira Fluctuates on Easing Speculations
The Turkish lira fluctuated today as bond yields fell and on speculations that the nation’s central bank would follow other central banks in easing its monetary policy. The slowing global economy makes central bank around the world consider easing their monetary policies. The US Federal Reserve and China’s central bank have already hinted about potential stimulating measures. Analysts say that it would be easier for Turkey’s […]
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August 232012
Euro Higher Even with Continued Economic Contraction in the Eurozone
Euro is higher today, even though there has been further economic contraction in the eurozone. The fact that the eurozone appears to be moving toward recession isn’t holding the euro back today as Forex traders consider disappointing US economic data, and look for clues that European leaders and the ECB are really ready to take action on the financial crisis in the eurozone. Euro still has the upper hand today, even though […]
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August 232012
Ruble Rises as Stimulus Expectations Boost Oil
The Russian ruble advanced today as speculations that central banks of China and the United States would ease their monetary policies spurred price for crude oil, the main export of Russia. The Federal Reserve mentioned in its policy minutes that some stimulating measures may be implemented quite soon. Peopleâs Bank of China Governor Zhou Xiaochuan suggested that interest rates and bank reserve requirements may be changed in case […]
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August 232012
Jobless Claims Rise, Probability of QE Increases, Dollar Falls
EUR/USD rose today for the fourth straight session after increasing US jobless claims increased chances that the Federal Reserve would implement quantitative easing yet again. Yesterday, the Fed policy minutes spurred speculations about to QE3 and today’s data spurred the talks further. The housing market looked good as new home sales increases last month more than expected. Initial jobless claims rose from 368k to 372k […]
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August 232012
NZ Dollar Gains as Fed Sparks Hope for QE3
The New Zealand dollar advanced today, rising for the fourth straight session versus its US counterpart, as the Federal Reserve hinted that the third round of quantitative easing is still possible. Investors had almost given up hope that the Fed would initiate QE3. Yet the minutes of the last policy meeting showed that some stimulus measures may be implemented and rather soon. The minutes said: Many members judged […]
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August 232012
CAD Rebounds vs. USD & JPY, Steady vs. EUR
The Canadian dollar strengthened today against the US dollar and the Japanese yen, reversing its yesterday’s decline. The Canadian currency remained steady versus the euro, keeping its yesterday’s losses, but not falling further. The major event, that returned risk appetite to the Forex market, was the minutes of the last policy meeting of the Federal Reserve. The minutes showed that the Fed still considers stimulating the economy of the United States. The loonie was also […]
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