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Day: July 2, 2013
July 22013
Australian Dollar Falls as RBA Maintains Dovish Bias
The Australian dollar sank today after the central bank kept its key interest rate unchanged, but maintained dovish bias. The currency pared losses versus the Japanese yen, but stayed soft versus the US dollar and the Great Britain pound. As was expected, the Reserve Bank of Australia left its cash rate unchanged at 2.75 percent. The bank voiced concern about the strength of the currency and hoped that it will fall […]
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July 22013
Brazilian Real Falls with Industrial Production
The Brazilian real fell today as industrial production declined in May and the contraction was bigger than analysts have predicted. The data led to speculations that the central bank will not be able to increase pace of interest rate hikes. Brazilian industrial output fell 2 percent in May from April. The drop was almost twice as big as experts have promised (1.1 percent). The Central Bank of Brazil has raised borrowing […]
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July 22013
Loonie Falls Behind as the US Economy Outpaces Canada’s Economy
Canadian dollar is falling behind today, losing ground as the US economy begins to outpace Canada’s Economy. With data favoring the United States, Canada is falling behind, and that is reflected in the loonie’s performance in trading. The Canadian dollar hit a low not seen for 20 months ahead of the release of US manufacturing data. With manufacturing and construction data showing improvement in the United States, it offers a sharp contrast to Canadian […]
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July 22013
Softer Yen as US Data, Nikkei Improve
Japanese yen is softer today, losing ground against its major peers, thanks to the latest economic data from the United States and to a surging Nikkei index. Today, the Japanese yen is heading lower against its major counterparts as the need for safe haven diminishes, and as other forces take hold. The Nikkei is back above the 14,000 level for the first time in five weeks, and better economic data out of the United States […]
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July 22013
Aussie Retreats as Traders Wait for RBA Decision
The Australian dollar backed off today after rallying yesterday. The currency gained strength from the Chinese manufacturing data, but retreated as traders wait for the policy decision of the Australian central bank. China is the major trading partner of Australia, therefore good news from the Asian country usually helps the Aussie (as the Australian currency is nicknamed). The manufacturing data released on Monday was not completely positive strictly speaking, but helped […]
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July 22013
GBP Firm vs. USD & JPY on Manufacturing
The Great Brian pound rose against the US dollar and the Japanese yen yesterday and kept the gains today as the manufacturing sector expanded last month with faster pace than was expected. The currency remained soft versus the euro. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 51.5 in May to 52.5 in June. The reading was well above the predicted 51.3 and it was the highest in 25 months. A value above 50.0 […]
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