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Day: June 14, 2013
June 142013
Yen Closes Higher After BoJ Minutes
The Japanese yen closed noticeably higher today as the minutes of the Bank of Japan meeting in May showed that some policy members suggested limiting the term for quantitative easing. The BoJ meeting revealed that the members of the bank’s Board believed that the economy will start to recover this year, but acknowledged that “there remained a high degree of uncertainty concerning the economy”. One of the policy makers suggested: In a situation where it seemed difficult […]
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June 142013
Norway Krone Falls as Officials Talk About Stimulus, Rebounds
The Norwegian krone fell today on signs that policy makers are ready to stimulate economy if its growth slows further. As of now, the currency managed to return above the opening level. The Norwegian economy is not particularly bad, but officials are concerned about possible spillover of problems from the rest of the European Union. Sigbjoern Johnsen, the Norwegian Minister of Finance, said earlier this week: To be faithful now, in a more […]
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June 142013
Good Domestic Fundamentals Do Not Help NZ Dollar
The New Zealand dollar retreated today even though domestic macroeconomic data was rather good and suggested that the economy is faring well. The BusinessNZ manufacturing Purchasing Managers’ Index rose from 55.2 in April to 59.2 in May. The Food Price Index grew 0.3 percent last month. The New Zealand dollar was rising for three sessions in the previous four days. Currently, the kiwi is trying to erase the drop versus […]
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June 142013
First Drop of EUR/USD This Week
Today, EUR/USD dropped for the first time this week as some of US economic reports were better than expected. At the same time, many reports were not as good as traders have hoped for and the currency pair is attempting to rebound at the present time. PPI rose 0.5% in May, beating the forecast of 0.1%. The April’s change was at -0.7%. (Event A on the chart.) Current account deficit increased to $106.1 billion in the first quarter of 2013 from […]
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