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Day: March 15, 2013
March 152013
CAD at Three-Week High vs. USD
The Canadian dollar advanced today, reaching the highest level in three weeks versus its US counterpart. The currency fell against the euro, but almost erased the drop, while the loonie maintained its losses versus the Japanese yen. The US Consumer Price Index increased 0.7 percent in February, suggesting that the US economy is on track to growth. At the same time, the level of inflation is not high enough to make the Federal Reserve […]
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March 152013
Dollar Falls as Traders Do Not Anticipate Fed to Drop Stimulus
The US dollar retreated today as traders anticipate that the Federal Reserve will maintain its stimulating monetary policy even after inflation accelerated. Such expectations added to pressure on the currency. The Fed will hold its policy meeting on March 20. Specialists do not anticipate any change to the monetary policy. There were talks that the central bank may reduce stimulus as the economy improves, but it almost certainly […]
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March 152013
UK Pound Continues to See Gains against the US Dollar
UK pound continues to gain ground against the US dollar today, after yesterday’s upbeat performance. Even though there are some factors that would normally put downward pressure on the sterling, the British currency is doing well enough today. Yesterday, Mervyn King, the Bank of England governor, made some comments that were downright optimistic when compared to what he has said recently. He mentioned […]
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March 152013
Euro Gains Amid Uncertainty
Even with a level of uncertainty, the euro is gaining ground today. The 17-nation currency is up against its major counterparts, even as a number of issues remain unresolved. It’s been an interesting couple of days for the eurozone. There is a measure of uncertainty about what’s going to happen next, but that hasn’t stopped the euro from heading higher against other major currencies today. Risk appetite is helping, especially […]
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March 152013
South Korean Won Heads to Weekly Decline
The South Korean won fell today, heading to a weekly decline, as the central bank voiced worries about slowing economic growth, while politicians were concerned about the negative impact of depreciating yen. The Bank of Korea left its main interest rate unchanged yesterday and predicted “the economy to have sustained a weak level of growth”. South Korean officials said that the huge fall of the Japanese yen is hurting Korea’s economy. The won […]
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March 152013
Zloty Erases Losses, Under Pressure from Fundamentals
The Polish zloty gained today, erasing previous losses. The earlier drop was caused by worries that unfavorable fundamentals will lead to another interest rate cut. Poland’s consumer price inflation slowed to 1.3 percent in February from a year ago, the lowest level since October 2006, being below the forecast of 1.5 percent. The current account deficit widened to â¬1.5 billion in January from â¬1.2 billion in December. The negative macroeconomic […]
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March 152013
EUR/USD Rises as Traders Anticipate Stimulus to Persist
EUR/USD rose today for the second day (it reversed yesterday’s losses by the end of the trading session) ahead of next week’s Federal Reserve policy meeting. Forex market participants anticipate the Fed to maintain stimulus and such expectations drove the US currency down. Today’s data from the United States was mixed, with both good (CPI and industrial production) and bad (manufacturing and consumer confidence) indicators. CPI rose 0.7% in February, a bit […]
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