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Day: October 19, 2012
October 192012
Loonie Declines to Lowest in Several Months on Poor CPI Growth
The Canadian dollar slumped today as consumer inflation frustrated market participants, being lower than forecast. That fueled speculations that the Bank of Canada will not be able to raise interest rates in the near future. The loonie reached the lowest level in two months against the US dollar and the four-month low versus the euro. The Canadian Consumer Price Index rose 0.2 percent in September, slowing from the August growth by 0.4 percent. […]
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October 192012
Pound Falls Despite Good Fundamentals
The Great Britain pound headed to the fourth consecutive weekly loss against the dollar today even though macroeconomic data was good. The currency was also down versus the Japanese yen, but will likely end the week with gains. Public sector net borrowing was at £12.8 billion in September, falling from £13.5 billion a year ago. Analysts have though that it would stay unchanged. Current budget […]
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October 192012
Chilean Central Bank Does Not Say About Need for Weak Peso
The Chilean peso gained against the euro today as the nation’s central bank left its monetary policy interest rate unchanged and did not hint that it wants the currency to depreciate. The peso weakened against the US dollar. The Central Bank of Chile left its key interest rate at 5 percent today. The bank did not speak about appreciation of the peso, like it was doing previously, mentioning the weakness of the dollar […]
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October 192012
US Dollar Edges Higher Against Most Majors
US dollar is edging higher against most majors right now, gaining as risk aversion enters the picture. One of the big drivers is the continued uncertainty about Spain and the eurozone. However, the latest US company earnings news isn’t helping matters, either. Greenback is getting a boost today, thanks in large part to uncertainty over what’s next in the eurozone drama. On the second day of the EU summit, Spanish PM Mariano […]
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October 192012
Euro Slips on Lack of Progress in the Eurozone
Euro is slipping against other majors this morning, thanks in large part to the lack of progress being made in the eurozone. There is a great deal of disappointment right now about Spain, and when the country will finally ask for aid. Many Forex traders and others expected that Spain would ask for bailout help this week. However, earlier today, Mariano Rajoy, Spain’s Prime Minister, indicated that there […]
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October 192012
NZ Dollar Bounces Up After Decline on US Jobless Claims
The New Zealand dollar fell yesterday after data showed that US unemployment claims rose more than expected. The kiwi rebounded today, though, but it is still unclear, whether it is a change of the trend or just a temporary bounce. US claims for unemployment benefits were up from 342,000 to 388,000 last week, beating analysts’ forecast of 367,000. Employment and unemployment data is usually a good indicator […]
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October 192012
Canadian Dollar Hurt by Flaherty’s Comments
The rally of the Canadian dollar was cut short by comments of Finance Minister Jim Flaherty, who indicated that projections for Canada’s economic growth may be revised down. The comments added to general uncertainty on the Forex market that was hurting riskier currencies. Flaherty said: We may have to revise downward somewhat. So far weâre in the same ballpark as we anticipated in the budget. The comments followed the speech of central bank’s Governor […]
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