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Day: May 21, 2013
May 212013
Dollar Falls vs. Euro on Stimulus Speculations
The US dollar fell against the euro today on speculations that the Federal Reserve will maintain its stimulus program. The currency edged higher versus the Great Britain pound and the Japanese yen. James Bullard, the President of the Federal Reserve Bank of St. Louis, said the Fed should continue to purchase bonds to stimulate the economy. William Dudley, the President of the Federal Reserve Bank of New York, said that policy makers were too optimistic […]
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May 212013
Japanese Mostly Lower Today
Japanese yen is mostly lower today, following an earlier rally. Comments from a government official sent the yen a little higher against its major counterparts, but now the yen is settling down into weaker territory as the fundamentals are considered. Economy Minister Akira Amari made comments earlier indicating that he thinks that the yen weakened too quickly. Even though the Japanese government and the Bank of Japan […]
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May 212013
Loonie Falls as Oil Drops and Fed Considers Reduced Easing
Canadian dollar is losing ground today, dropping as the the US Federal Reserve considers reducing its economic stimulus efforts. It’s also not helping the loonie that oil prices are dropping again. Dollar strength is the story across the board today, and that is affecting the loonie as well. The news that the Federal Reserve might reduce its quantitative easing program is contributing to dollar strength today, and the Canadian […]
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May 212013
UK Inflation Slows, Pound Weakens
The Great Britain pound weakened today after data showed that inflation slowed last quarter more than was predicted by analysts, reigniting concerns about the UK economy. The Consumer Price Index rose 2.4 percent in the first three months of 2013 from a year ago, slowing from the growth of 2.8 percent in the fourth quarter of 2012. The median forecast was at 2.6 percent. Other reports today were also negative, […]
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May 212013
AUD/USD Falls After RBA Minutes, Losses Limited
The Australian dollar fell against its US peer today after the Reserve Bank of Australia released the minutes of its last policy meeting. The drop was small, however, and the currency gained against the Japanese yen at the same time. The RBA minutes were dovish and said: Conditions in the business sector, as assessed in surveys, generally had remained below average, possibly in part because the exchange rate had remained high despite lower export […]
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May 212013
Chilean Peso Drops on Weak GDP Growth
The Chilean peso fell yesterday as Chile’s economic growth trailed forecasts, reinforcing the view that the central bank will cut interest rates soon. Chilean gross domestic product expanded 4.1 percent in the first quarter of 2013, below the forecast of 4.5. The economy grew at the rate of 5.7 percent in the fourth quarter of 2012. The peso fell after the news against the dollar, which was weak itself. Market participants were speculating for some […]
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May 212013
Dollar Recovers, Remains Vulnerable
The US dollar recovered a bit today after yesterday’s losses, but still remained soft amid speculations that the Federal Reserve may reduce its asset purchase program. Speeches of the Federal Reserve members will be the major theme of this week as market participants wait for signs of changes to monetary policy. On one hand, there are plenty of talks that the Fed will scale back its stimulus measures. On the other, […]
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