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Day: July 18, 2013
July 182013
Canadian Dollar Rises on Signs of Growth
The Canadian dollar advanced today on hopes that signs of economic growth will encourage policy makers to become bolder and reduce monetary accommodation, the move that they were promising for a long time. Statistics Canada reported that wholesale sales grew 2.3 percent in May, the largest rate of growth since the beginning of 2011. Analysts have predicted that the sales would expand with the same rate as in April — 0.4 percent. Tomorrow’s […]
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July 182013
Euro Continues to Struggle on Uncertainty
Euro continues to struggle a bit today, dropping against the dollar and the pound as eurozone uncertainty remains the focus for many traders. Angela Merkel appears to have a plan in mind for saving the euro, but it remains to be seen whether or not it will work — and whether or not eurozone leaders will be on board. Against its counterparts in the United States and the United Kingdom, it’s all about the economic data. Data continues to show […]
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July 182013
Baht Falls After Initial Gains
The Thai baht fell after rising initially. Currencies’ moves are somewhat volatile today as traders are trying to digest Chairman Ben Bernanke’s comments about the future policy of the US central bank. The Federal Reserve Chairman explained that he wants monetary policy to be flexible and able to respond to the changes of the economy. He also said that trimming of asset purchases would not mean an end to accommodative policy. All […]
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July 182013
US Dollar Strengthens on Bernanke, Economic Data
US dollar is higher today, gaining against its major counterparts. Remarks by Federal Reserve Chair Ben Bernanke, along with the latest unemployment data, are helping the greenback. Greenback is gaining ground today, thanks to speculation that the economy might pick up enough for the Federal Reserve to pull back its easing efforts. Ben Bernanke‘s testimony to Congress yesterday, while insisting that interest rates would […]
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July 182013
GBP Falls vs. USD, Rises vs. JPY After Retail Sales Report
The Great Britain pound fell against the US dollar and rose versus the Japanese yen after a report showed that retail sales increase last month, but the rate of growth was significantly slower than in the prior month. UK retail sales were up 0.2 percent in June from May, when they rose 2.1 percent. The sales were growing for the second month after two months of declines. Earlier, the pound […]
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July 182013
EUR/USD Continues to Fall as Bernanke Talks About QE Tapering
EUR/USD slid today for the second trading session. Federal Reserve Chairman continued his testimony today, saying that the central bank will be tapering quantitative easing in case economy is improving. And today’s data definitely showed an improvement of economy with falling unemployment claims and unexpected leap of Philadelphia Fed index. Leading indicators were less positive though. Nevertheless, the dollar gained on the euro yet again. Initial jobless […]
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