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Day: July 10, 2013
July 102013
Japanese Yen Strengthens on BOJ Expectations
Even though the Bank of Japan is in the midst of a rather large easing operation, the yen is finding strength today. This is due, in large part, to the fact that many Forex traders expect that, rather than expanding the easing efforts, the BOJ will keep things the same. Yen is gaining against all of its major counterparts today, thanks in large part to the fact that the Bank of Japan is expected […]
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July 102013
Euro Struggles after ECB Comments
Euro is struggling today. Even though the 17-nation currency is higher against the US dollar and the UK pound right now, it is having difficulty maintaining its gains, and there are concerns that could bring it down later. Earlier, the euro dropped to a three-month low against the US dollar on the latest comments coming out of the ECB. Board member Jorg Asmussen expanded upon remarks made by ECB […]
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July 102013
EUR/USD Surges on Minutes Release
The US dollar was weak versus the euro for the whole trading session today, even before any major releases have been out in the United States. Inventories reports pushed the EUR/USD currency pair even higher, and then it rallied in reaction FOMC minutes release. US wholesale inventories demonstrated a drop by 0.5% in May, following 0.1% decline in April. The median forecast was for a 0.3% gain in wholesale inventories. (Event A on the chart.) […]
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