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Day: June 11, 2013
June 112013
UK Fundamentals Lead to Mixed Performance of Sterling
UK fundamentals were mixed today, resulting in no clear trend for the Great Britain pound. The currency rose against the US dollar, fell versus the Japanese yen and was little changed against the euro. The house price balance of Royal Institution of Chartered Surveyors was at 0.5 percent, compared to the forecast of 2 percent. Industrial production rose 0.1 percent in April from March, compared to the forecast of a 0.4 percent drop. As for the bad news, […]
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June 112013
US Dollar Index Drops on Prospect of Continued Easing
Between the prospect of continued easing in the United States, and the bond yield shock this morning, the US dollar is struggling today. The dollar index is lower as the greenback loses ground to its major counterparts. Earlier today, the world got a shock as US bond yields rose. The news caused ripples of concern, even on the heels of S&P‘s decision to upgrade the credit outlook for the United States. On top of that, there are concerns that the economic […]
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June 112013
Euro Trades Mixed With All Eyes on Germany
Euro is trading mixed today as focus shifts from Asia to the eurozone, specifically Germany. There are a couple of key arguments coming before German courts, regarding ECB measures to shore up ailing eurozone countries, and many are interested to see how things are likely to play out. Euro is gaining against the US dollar today, heading higher, even though risk assets are not in demand. […]
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June 112013
Aussie Drops as Growth of Home Loans Slow
The Australian dollar dropped today, reaching the lowest level since 2010 against its US counterpart, as growth of housing loans slowed in April and trailed analysts’ forecasts. Australian dwelling finance commitments rose 0.8 percent in April from March, when growth was at 4.8 percent. The median forecast was at 2.1 percent. The Aussie, as the Australian currency is nicknamed, fell against other majors, including the yen, which was bolstered […]
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June 112013
BoJ Leaves Monetary Policy Unchanged, Yen Jumps
The Japanese yen jumped today after the Bank of Japan left its monetary policy unchanged, refraining from additional stimulus and disappointing traders who have counted on more accommodative policy. The BoJ left both interest rates and the intended size of asset purchases unchanged at today’s meeting. Previously, policy makers were talking about stimulating economy and some market participants were frustrated by the lack of action from the central bank today. […]
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June 112013
CHF Strengthens vs. USD & JPY, Falls vs. EUR
The Swiss franc advanced versus the US dollar and the Japanese yen, but fell against the euro. Economic reports from Switzerland were mixed, not helping the currency to choose direction. Retail sales grew 3.3 percent in April, year-on-year. It was above the predicted increase of 2.5 percent and much better reading that the March’s drop by 0.8 percent. As for the bad news, the unemployment rate increase by 0.1 percentage point to 3.1 percent. […]
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