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Day: October 25, 2012
October 252012
Riksbank Keeps Repo Rate Stable, Hints on Easing
The Sweden krona fell against the US dollar today after the Swedish central bank kept its key repo rate unchanged. The currency weakened against the euro as the accompanying statement hinted that the bank may lower rates in the future. The Riksbank left its main interest rate at 1.25 percent and wrote in the statement: The Swedish economy has so far grown at a good pace, but is now slowing down due to the weak […]
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October 252012
Risk Appetite, Pound Push Euro Higher
Euro is heading higher today, helped along by risk appetite, and even dragged a little bit by better performance from the pound. Euro is gaining ground as optimism returns to the markets. At least, there is optimism regarding the wider global economy, and that is taking some of the focus away from the problems in the eurozone. Right now, euro is gaining, particularly against the US dollar, as the situation for the global economy improves somewhat. […]
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October 252012
Stimulus Expectations Send Japanese Yen Lower
With a Bank of Japan policy meeting coming up in October 30, many expect an announcement related to stimulus efforts. As a result, the Japanese yen is heading lower against other majors right now on the speculation that stimulus efforts will weaken the currency. The Japanese yen is heading lower as Forex traders speculate that the October 30 meeting by Bank of Japan policymakers will result in additional measures to stimulate the Japanese economy. […]
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October 252012
Loonie Gains on Expectations of Higher Interest Rates
The Canadian dollar was higher today as the central bank reiterated its suggestion that interest rates should be higher in the future. That suggestion opposed the comments of bank’s Governor Mark Carney, who was less hawkish. Carney said at yesterday’s press conference that “the case for adjustment of interest rates has become less imminent”. Such comments contrasted to Bank of Canada’s Monetary Policy Report that repeated the words […]
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October 252012
NZ Dollar Advanced as RBNZ Does Not Cut Interest Rates
The New Zealand dollar climbed today, reaching the record high since April against the Japanese yen, after the Reserve Bank of New Zealand maintained its key Official Cash Rate unchanged and refrained from suggesting rate cuts in the accompanying statement. The RBNZ left its main interest rate at 2.5 percent. Governor Graeme Wheeler said: Market sentiment has improved from earlier in the year, suggesting the risks to the global outlook […]
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October 252012
EUR/USD Erases Gains as US Labor & House Markets Show Signs of Improvement
EUR/USD rallied today, but failed to keep gains and dropped. Europe continues to struggle amid the crisis, while the United States show improvements in various sectors of the economy. Today, labor and housing markets showed signs of improvement. Durable goods orders were also very good. Initial jobless claims were at the seasonally adjusted rate of 369k last week, near the median analysts’ estimate, falling from the previous week’s revised rate […]
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October 252012
Pound Gets Stronger on Hopes for Economic Growth in UK
The Great Britain pound advanced on hopes that the United Kingdom will emerge from recession. Traders turned their attention to the GDP report, released today, which is expected to show growth. Bank of England Governor Mervyn King said that UK economic growth can be a bit inconsistent: And the zig-zag pattern of quarterly growth rates of GDP that we have seen this year is likely tocontinue, as we […]
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