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Day: November 20, 2012
November 202012
RBA Minutes Weaken Australian Dollar
The Reserve Bank of Australia released its monetary policy minutes today, weakening the Australian dollar. The minutes suggested that further monetary easing is possible, while Australia’s economy may grow slower than was previously anticipated. The RBA released the minutes of its policy meeting on November 6, when it has left the key interest rate unchanged. Yet most analysts expect an interest rate cut on the next meeting […]
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November 202012
Canadian Dollar Falls, Losses Limited
The Canadian dollar fell against some of its major peers, including the US dollar and the euro, today together with falling prices for crude oil, the major Canada’s export commodity. Losses were limited because of some good news for the currency. Crude dropped as much as 2.9 percent to $86.73 per barrel in New York today. Canadian wholesale sales declined 1.4 percent to $48.8 billion in September instead of rising 0.5 percent […]
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November 202012
Euro Struggles Following France Downgrade
Euro is struggling once again, trying to gain the upper hand against the US dollar, as continued concerns about the eurozone crop up. Even though there appears to be a promise of a new bailout for Greece coming, France has been downgraded, and that is causing some worry. Earlier, European officials indicated that an agreement on Greece is going to be announced soon. The news is positive, and helpful for the euro, but […]
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November 202012
Loonie Pulls Back after Earlier Gains
Loonie is slightly lower right now, following earlier gains. Earlier, the prospect of a better situation in Europe, as well as fiscal cliff talks in the United States, helped boost risk appetite. Additionally, the Canadian dollar received some support from the news that the International Monetary Fund is thinking about adding the loonie to its list of reserve currencies. Earlier, the Canadian dollar showed strength on the latest news about a variety of subjects. […]
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November 202012
EUR/USD Erases Losses Ahead of European Ministers’ Meeting
EUR/USD was soft today, but managed to erase losses as European finance ministers prepare to meet for a discussion of the Greek bailout, improving confidence among investors. The news from the United States was also risk-positive, suggesting that the housing market is improving. Housing starts were at the seasonally adjusted rate of 894k in October, above the September rate of 863k and analysts’ expectations of 840k. Building permits were at the seasonally adjusted level of 866k […]
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November 202012
Bank of Japan Refrains from Easing, Boosting Yen
The Japanese yen gained today after the Bank of Japan refrained from easing its monetary policy. Yet the central bank hinted that it may implement accommodative measures in the future, limiting gains of the currency. The Bank of Japan left its main interest rate near zero after concluding its two-day policy meeting today. At the same time, the statement said that the bank “will pursue aggressive monetary easing in a continuous […]
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