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Day: April 26, 2013
April 262013
Euro at the End of Business Week
The euro ended the last trading day of this week higher against the US dollar, but lower versus the Japanese yen and the Great Britain pound as market participants speculated whether the European Central Bank will cut interest rates next week. German import prices slipped 0.1 percent in March from February when they increased 0.3 percent. Analysts have expected no change. The ECB policy decision next […]
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April 262013
GDP Data Sends US Dollar Lower against Major Counterparts
US dollar is heading lower against its major counterparts today, dropping as the latest economic news disappoints. It appears that the Fed won’t be letting up on its easing program anytime soon. The latest US GDP reading came in at a +2.5 per cent today. However, this reading was a bit disappointing, since many economists had a higher forecast. With this disappointment, stocks headed lower — […]
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April 262013
Japanese Yen Higher after Bank of Japan Announcement
Japanese yen is heading higher today, performing well across the board following the latest Bank of Japan announcement. Yen is getting a boost from the fact that the Bank of Japan is not adding any particulars to its plan for economic stimulus. The announcement today didn’t offer anything new. The result, in this slightly risk averse environment, is that the yen is in demand as a safe haven. Haruhiko Kuroda, the new […]
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April 262013
Swiss Franc Gains on Signs of Stabilizing Economy
The Swiss franc rose today on signs that Switzerland economy stabilized, giving hope that the Swiss National Bank will drop its cap on the currency sometime in the future. The KOF Economic Barometer rose from 1.00 to 1.02 in April. Analysts have predicted that the index would fall to 0.98. The report said: The stabilisation, that was already indicated last month, is thereby confirmed. USD/CHF fell from 0.9446 to 0.9435 […]
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April 262013
NZ Dollar Soft Even as Trading Surplus Widens
The New Zealand dollar rallied against its US counterpart today as New Zealand’s trading balance surplus surged above analysts’ expectations. The kiwi trimmed its advance versus the greenback later and fell against the Japanese yen despite the positive news. The New Zealand trade excess rose from NZ$441 million in February to NZ$718 million in March. Experts have anticipated just a small increase to NZ$472 million. The report bolstered the New […]
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April 262013
EUR/USD Struggles to Rally as US GDP Trails Forecasts
EUR/USD was attempting to gain today as worse-than-expected growth of US gross domestic product weakened the dollar. Currently, the rally is small as other US reports were good, while data from Europe remains negative. US GDP grew 2.5% in the first quarter of 2013, according to the advance estimate. The growth was below the predicted 3.1%, but well above the previous quarter’s 0.4%. (Event A on the chart.) Michigan Sentiment Index was […]
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April 262013
Good Economic Indicators Result in Rally of CAD
The Canadian dollar rallied yesterday as positive macroeconomic reports made investors willing to risk and buy assets associated with higher yield. The currency maintains the gains today so far. Falling US jobless claims and growing Britain’s economy improved the mood of traders. The positive sentiment resulted in rising prices for crude oil, the major Canada’s export. Futures for crude jumped as much as 2 percent to $93.28 per barrel in New York yesterday. […]
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