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Day: April 30, 2013
April 302013
Dollar Drops as Fed Starts Policy Meeting
The US dollar dipped today on speculations that the Federal Reserve will not reduce stimulus as the recent fundamental data was not good enough to warrant tighter policy. The Fed started its two-day meeting today. Analysts do not expect the US central bank to change its monetary policy, but wording of the decision may influence the Forex market strongly. US economic reports were not good enough to believe […]
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April 302013
Euro Retains Lead on Major Counterparts
Euro is retaining its lead against major counterparts today, even though there are concerns about the eurozone economy. Economic news in other major economies has also been lackluster, so the euro has managed to retain some of its strength. Even though the euro is holding its ground, there are still plenty of concerns for the future. Recession is threatening the eurozone as economic data continues to disappoint. […]
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April 302013
Japanese Yen Gains Ground
Japanese yen is gaining ground today, heading higher against the dollar and making some inroads against the euro. Economic data out of Japan is having an effect as well. The recent Bank of Japan decision not to adjust the current asset purchase program has provided a little respite for a weakening yen. However, the latest economic data, indicating lackluster performance, could prompt the BOJ to take the aggressive easing action it’s been […]
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April 302013
Slowing GDP Growth Hurts Taiwan Dollar
The Taiwan dollar weakened today after data showed that the first quarter’s growth of the country’s economy was slower than analysts have anticipated. Taiwan gross domestic product expanded 1.54 percent in the first quarter of 2013. The increase trailed the forecast of 3.1 percent and the advance of 3.72 percent in the previous three months. The slowing growth led to concerns that the global economic slowdown will continue to harm emerging economies, reducing demand […]
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April 302013
EUR/USD Erases Losses on Hopes for ECB
EUR/USD reversed previous losses today on hopes that the European Central Bank will stimulate the economy. The ECB will announce its monetary policy decision on May 2. Earlier, the currency pair dropped as the eurozone unemployment rate reached a record 12.1% in March. (Event A on the chart.) S&P/Case-Shiller home price index rose from 147.97 in January to 149.8 in February. On year-over-year basis, the index grew 9.4%, compared to the forecast of 9.1% and the January growth […]
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April 302013
Falling Consumer Confidence Does Not Affect Pound Much
The Great Britain pound was little changed today even after UK consumer confidence unexpectedly fell this month, suggesting that the Britain’s problems did not end yet. The GfK UK Consumer Confidence Index decreased by one point to -27 in April. Forecasters have predicted it to stay unchanged at -26. The report said that “the recovery in confidence has stalled, and real recovery looks a long way away”. GBP/USD […]
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