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Day: August 13, 2013
August 132013
US Dollar Gets Help From Latest Retail Sales Data
US dollar is getting a boost today, thanks to the latest retail sales data. While the data wasn’t super-impressive, it still showed solid gains, and that is supporting speculation that Fed tapering will end sooner rather than later. July retail sales showed an increase of 0.2 per cent. This was a little below expectations of 0.3 per cent, but some of the disappointment was offset by the fact […]
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August 132013
Japanese Yen Sinks on Latest from Shinzo Abe
After gaining some ground, the Japanese yen is dropping against its major counterparts, mainly due to a combination of the latest plan from Prime Minister Shinzo Abe and the idea that the yen was probably overbought recently. The latest plan by Japanese Prime Minister Shinzo Abe is mulling over an idea to cut corporate taxes. He is trying to consider ways to offset a proposed increase to sales taxes. The news about […]
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August 132013
Accelerating Inflation Reduces Chances of Rate Cut, Makes Krona Stronger
The Swedish krona rose today as consumer inflation accelerated last month, reducing incentive for the central bank to cut interest rates that are already quite low. Statistic Sweden reported that the Consumer Price Index advanced 0.1 percent in July after falling at the same rate in June. Economists did not expect any changes. Without any major news, the Forex market does not show a general trend, making […]
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August 132013
Australian Dollar Drops with Business Confidence, Manages to Recover
The Australian dollar fell today against its US peer after the release of business confidence report, but managed to recover as of now. The currency advanced versus the Japanese yen. NAB Business Confidence slipped from 0 to -3 in July, the lowest level in 8 months. The report mentioned the adverse effect of the depreciating currency on business activity: Weaker AUD hurting wholesale and retail purchase costs but weak activity sees this reflected […]
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August 132013
EUR/USD Slips for Third Session on US Retail Sales
EUR/USD dipped for the third consecutive trading session today as US retail sales increased for the fourth straight month in July. Import and export prices data was not as good, but it did not prevent the dollar from rising. Retail sales rose 0.2% in July, matching expectations exactly. The June change was revised positively from 0.4% to 0.6%. (Event A on the chart.) Import prices rose 0.2% in July, missing the forecast […]
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August 132013
Canadian Dollar Mixed as Week Starts
The Canadian dollar was mixed at the start of the week with absence of any major news to drive the currency in any particular direction. The loonie did not show a noticeable trend today either. It looks like markets are uncertain in which direction to move. Stocks were falling, while crude oil was rising. Both losses and gains were small though, not giving an edge to either bulls or bears. The Canadian currency […]
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