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Day: June 19, 2013
June 192013
EUR Loses to USD After Fed Meeting, Firm Against Other Majors
The euro slumped against the US dollar as Federal Reserve Chairman Ben Bernanke said that the central bank will likely reduce stimulus by the end of the year. The currency was firm against some other majors, including the Great Britain pound and the Japanese yen. The Federal Open Market Committee left its monetary policy unchanged today, but said: The committee sees downside the risks to the outlook for the economy and the labor market as having diminished […]
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June 192013
US Dollar Lower on Speculation that QE Will Continue
Greenback is lower today, struggling as Forex traders await the outcome of the two-day Federal Reserve policy meeting underway right now. Right now, there is speculation that quantitative easing will continue, and that is undermining the US dollar. One of the questions that many investors, Forex traders, and even “regular” folks want answered is this: When does the Federal Reserve plan to taper off its asset […]
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June 192013
UK Pound Gets Boost on Prospect to Reduce Easing
Votes to avoid an increase in the Bank of England’s asset buying program are providing support for the pound today. Pound is modestly higher against the US dollar, and the currency has broken a recent losing streak against the euro. As more members of the MPC decide against quantitative easing, the sterling is likely to gain some strength. UK pound broke a two-day loss to the euro today as Forex traders anticipate an end to quantitative easing. Once […]
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June 192013
Aussie Rises with Leading Indicators
The Australian dollar rallied against its US peer as the nation’s leading indicators rose, reducing incentive for the Reserve Bank of Australia to cut interest rates further. The Conference Board Leading Index rose 0.3 percent in April after rising 0.1 percent in the previous month. The Aussie (as the Australian currency is nicknamed) advanced versus the greenback, but remained a bit soft against the yen, showing the same behavior as its New Zealand counterpart. […]
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June 192013
NZD Rises vs. USD as Current-Account Deficit Narrows
The New Zealand dollar rose against its US counterpart, but fell versus the Japanese yen today after data showed that the nation’s current-account deficit narrowed last quarter. The moves were not big as the market is quiet ahead of the Federal Reserve policy decision. The New Zealand current-account gap shrank NZ$0.3 billion to NZ$2.2 billion in the first quarter of 2013 from the previous three months. Still, prospects from […]
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June 192013
EUR/USD Sinks After FOMC Meeting
The Federal Open Market Committee ended its two-day policy meeting today. FOMC did not change its monetary policy, but said that it looks like the economy is improving. Such view suggests that the Federal Reserve may reduce its stimulus in the near future. Indeed, Fed Chairman Ben Bernanke suggested after the announcement that the central bank may taper quantitative easing later this […]
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