February 15, 2013

February 15
2013

Yen Falls as G20 Meeting Starts

The Japanese yen slipped today against other major currencies amid rumors that Japan will not be blamed for currency manipulation on the Group of Twenty meeting. The two-day G20 meeting of finance ministers and central bankers started today in Moscow. There were speculations that currency wars would be the main theme of the meeting. Yet now there are indications that politicians are not going to point at specific countries […]

February 15
2013

Swedish Exporters Complain About Strenght of Krona

The Swedish krona fell today as exporters, who are already strained by the financial problems of the European Union, complained about the strength of the currency. Exporting companies said that the strong exchange rate diminish their earnings. Usually such comments are followed by efforts of policy makers to weaken a currency, but it may be not the case with the krona. Finance Minister Anders Borg explained that businesses should get used […]

February 15
2013

Canadian Economic Concerns Sends Loonie Lower

Once again, the economy is back in the spotlight for Canada. Worries about the Canadian economy have been increasing recently, and the latest manufacturing sales data isn’t helping matters. With the latest plunge, the loonie is heading lower against its counterparts. December 2012 manufacturing sales dropped by 3.1 per cent. This was a big surprise, since many analysts had expected that the drop would be limited to 0.8 […]

February 15
2013

US Dollar Index Edges Higher on Improving Data

US dollar index is edging higher today, gaining ground on improved economic data. However, even with the earlier gains, against individual majors the greenback is mixed. Risk appetite is trying to push through, and forex traders are considering higher yielding currencies. Optimistic comments from Federal Reserve Chair Ben Bernanke have helped spur a little hope for the US economy. On top of that, consumer sentiment […]

February 15
2013

Peso Down After Chilean Central Bank Maintains Interest Rates

The Chilean peso retreated today after the central bank left interest rates unchanged on its yesterday’s meeting as inflation was not high enough to prompt an interest rate hike. The Central Bank of Chile left its key interest rate at 5 percent. That bank said in the statement that global “financial conditions are stable” and domestically “recent output and demand indicators exceeded forecasts”. Yet the bank felt no need […]

February 15
2013

EUR/USD Flat as G20 Meeting Proceeds

EUR/USD has gone nowhere today as traders are reluctant to take positions while outcome of the Group of Twenty meeting, which is held in Moscow, remains unclear. Currency manipulations are expected to be the main topic of the meeting. Meanwhile, the US economy was showing signs of strength as reports were surprising traders in a positive manner. NY Empire State Index jumped from -7.8 in January to 10.0 in February. It was expected […]

February 15
2013

Olsen Speaks About Interest Rate Cut, Krone Down

The Norwegian krone fell today as the head of the central bank indicated that he may ease monetary policy as a measure to bring inflation, which was slowing due to the currency’s strength, closer to the bank’s target. The annual underline inflation rate was at 1.2 percent last month, far below the Norges Bank’s target of 2.5 percent. Governor Oeystein Olsen suggested that the bank may act to boost prices and economic growth: A pronounced […]

February 15
2013

NZ Dollar Extends Rally, Propped Up by Retail Sales

The New Zealand dollar extended its rally today, reaching the highest rate since September 2011 against its US peer, as retail sales grew last quarter more than was expected. New Zealand retail sales grew 2.1 percent on a seasonally adjusted basis in the fourth quarter of 2012 from the previous quarter, when they fell 0.2 percent. The expected growth was 1.3 percent. The report added to the positive […]

Day: February 15, 2013