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Day: July 25, 2013
July 252013
Greenback Slumps as Focus Shifts Away From Currencies
US dollar is slumping a little bit today, thanks in part to a shift of focus away from currencies. The latest economic data release hasn’t done a lot to encourage the greenback, and many institutional Forex traders are instead looking at earnings and focusing on stocks right now. The latest durable goods data released in the United States shows a stronger than expected performance. However, this news was offset a little bit by a rise […]
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July 252013
Falling Crude Oil Drags Ruble Down
The Russian ruble slid today as the decline of crude oil reduced attractiveness of assets related to the major oil-exporting country. Futures for crude slipped 0.6 percent to $104.72 per barrel in New York today. Oil together with natural gas makes up about 50 percent of export revenue for the biggest energy-exporting country in the world. Crude oil was weakening as traders were concerned about global economic growth. Such concerns were […]
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July 252013
NZ Dollar Jumps as RBNZ Signals About Monetary Tightening
The New Zealand dollar jumped today as the central bank signaled that it is going to tighten its monetary policy even though this is not going to happen this year. The Reserve Bank of New Zealand kept its main interest rate today. Reserve Bank Governor Graeme Wheeler said that the currency remains excessively strong: Despite having fallen on a trade-weighted basis since May 2013, the New […]
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July 252013
UK Pound Drops on Latest GDP Data
UK pound is lower against the euro today, thanks in large part to the latest GDP data. Sterling hasn’t changed much against the US dollar, and is higher against the Japanese yen. Sterling is struggling today as the latest GDP data has been released. The Office for National Statistics reports that second quarter GDP for the United Kingdom expanded at a rate of 0.6 per cent. This was in line with some […]
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July 252013
EUR/USD Resumes Rally
EUR/USD was rising yesterday, but ended the session with losses. The currency pair resumed its rally today even though European data was not particularly good. The US data was not completely positive either as unemployment claims rose. Meanwhile, durable goods orders showed robust growth. Seasonally adjusted initial jobless claims were at 343k last week, somewhat above the previous week’s 336k and the forecast […]
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July 252013
Euro Gains on Improving PMI, Down vs. Dollar
Euro gained as positive data from the eurozone was surprisingly good, giving hope that the European economy will be able to emerge from recession without additional stimulating measures from policy makers. The Markit Flash Eurozone Services Purchasing Managers’ Index rose from 48.3 in June to 49.6 in July, reaching the highest level in 18 months. The Markit Flash Eurozone Manufacturing PMI climbed from 48.8 to 50.1 this […]
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