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Day: July 4, 2013
July 42013
Dollar Gains During Holiday
The US dollar managed to post huge gains against the euro and the Great Britain pound today even during a holiday in the United States. The currency also outperformed the Japanese yen, which rallied against the currencies of the eurozone and Britain too. It is Independence Day in the USA today and trading was expected to be quiet. Yet today’s trading session was anything but uneventful. One could say that big moves should […]
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July 42013
Euro Crashes as Draghi Suggests Rates Will Stay Low for Long Time
The euro crashed after European Central Bank President Mario Draghi suggested that interest rates will remain low for a long period of time. The currency advanced versus the Great Britain pound, which was also hurt by comments of the nation’s central bank. The ECB left its benchmark interest rate at 0.5 percent. It was not a surprise for the Forex market. Yet Draghi managed to shock market participants, saying: The Governing […]
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July 42013
Pound Sinks After BoE Maintains Interest Rates Record Low
The Great Britain pound slumped today as the central bank maintained interest rates at the record low level and kept the size of asset-purchases the same. The Bank of England kept the key interest rate at 0.5 percent and asset purchases at £375 billion. Market participants have expected such decision. The central bank said in the statement: In the United Kingdom, there have been further signs that a recovery is in train, although it remains weak by historical […]
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July 42013
CAD Jumps as Crude Rises Above $100 Mark
The Canadian dollar climbed as crude oil, the major Canada’s export, advanced above the psychologically important $100 level, improving prospects for the Canadian economy and increasing the appeal of the nation’s assets. The currency weakened against the Japanese yen though. Crude traded at $101.11 per barrel in New York today. Oil rallied as unrest in Egypt threatened supply and after a report showed that US stockpiles shrank. It is Independence Day in the United States […]
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July 42013
Short-Covering Drives Dollar Lower, Fundamentals Remain Positive
The US dollar dropped today ahead of Friday’s important report. Many analysts think that it was nothing but short-covering and the currency can yet rally on fundamentals that remained positive. The dollar fell ahead of non-farm payrolls that will be released on July 5, but the trading environment is still favorable for the US currency. The employment report of Automatic Data Processing showed an increase by 188,000, which has beaten […]
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