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Day: August 9, 2013
August 92013
Positive Fundamentals Do Not Help Pound Again
Great Britain released yet another positive macroeconomic report. Yet, as it often was happening lately, favorable fundamentals did not help the pound, which fell against other major currencies today. Britain’s trade balance deficit shrank to £8.1 billion in June from £8.7 billion in May. Forecaster predicted a deficit of £8.4 billion. Most of UK macroeconomic data was fairly good. Mark Carney said that […]
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August 92013
Won Rallies as BoK Speaks About Growth & China’s Data Still Good
The South Korean won advanced today as the central bank spoke about economic growth of the Asian nation and after China released yet another positive report. The Bank of Korea left its main interest rate at 2.5 percent yesterday and said: In Korea, the Committee appraises economic growth to be continuing, albeit moderately, mainly led by exports. China’s industrial production jumped 9.7 percent in July from a year ago. The data added […]
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August 92013
Thai Baht Rallies on Positive Sentiment, Loses Gains
The Thai baht was rising because of the positive market sentiment, but was unable to keep gains and currently trades below the opening level against the US dollar. The positive data from China eased concerns about slower economic growth and boosted Asian currency, as well as other currencies associated with risk. Most of Thai exports go to China, making the good news from the Asian country especially beneficial to the baht. Yet […]
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August 92013
EUR/USD Drops, Heads to Weekly Gain
EUR/USD dropped today after three consecutive sessions of gains. The currency pair will likely post weekly gain despite today’s losses. The week was relatively poor on macroeconomic reports and the Forex market was mainly driven by positive news from China that sparked risk appetite among investors and weakened the dollar. Wholesale inventories fell 0.2% in June from May, frustrating analysts who have expected a 0.5% increase. […]
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