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Day: August 14, 2013
August 142013
Greenback Slips as Better News Comes Out of Europe
US dollar is slipping a little bit today, heading a little bit lower as better news comes out of Europe. Even though the dollar was holding its own earlier, the greenback has slipped a bit as the day has progressed. The news that the eurozone has officially moved out of recession — and that second quarter growth was better than expected — is helping the euro. The 17-nation currency is still struggling […]
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August 142013
NZ Dollar Advances with Retail Sales
The New Zealand dollar advanced today as retail sales grew last quarter and the growth was bigger than expected. The positive general market sentiment helped the currency too. New Zealand retail sale rose 1.7 percent in the second quarter of 2013 after rising 0.9 percent in the first quarter. The actual increase was above the estimated growth of 1.4 percent. The general market sentiment was fairly optimistic, making investors prefer […]
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August 142013
It’s Official: Eurozone Recession is Over
The eurozone recession is officially over, according to the latest quarterly data from from Eurostat. Even with the news, however, the euro continues to struggle against its major counterparts. The numbers for the second quarter have been released, and Eurostat reports that the eurozone economy grew 0.3 per cent during the second quarter of 2013. Economists and analysts had expected 0.2 per cent growth, so the extra little bit was […]
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August 142013
Franc Drops as Traders Feel No Need for Safe Haven
The Swiss franc was falling for the whole week and continued to do so today as sings of growth in the countries of the European Union reduced the demand for the currency as a safe haven. The eurozone economy expanded 0.3 percent in the second quarter of 2013, beating the forecast of 0.3 percent. France’s and Germany’s economies grew more than was predicted too. The signs of growth made investors less attracted to the safety of the franc, which experienced weakness also due domestic […]
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August 142013
EUR/USD Soft Even as Eurozone Economy Expands
EUR/USD rose on the current trading session initially as the economies of France (event A on the chart) and Germany (event B on the chart) grew more than was expected, but slid back to the opening level even as the whole eurozone economy expanded too. (Event C on the chart.) There were not many reports from the United States today and they were not likely responsible for the drop of the currency pair. PPI remained unchanged in July on a seasonally […]
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August 142013
Canadian Economy Shows Signs of Weakness, CAD Suffers
The Canadian dollar fell against the US dollar and the euro yesterday and remained soft today as traders were concerned that the Canadian economy is not in a very good shape. The currency was little-changed against the Japanese yen after rallying on the previous trading session. Last week’s macroeconomic reports were surprisingly poor. The employment report was especially bad, showing a drop by 39,400 and the increase of the unemployment rate to 7.2 percent. Analysts have […]
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August 142013
Pound Flat After Reports Confirm Economic Growth
The Great Britain pound was flat today after rising against the euro and the Japanese yen yesterday. The rally was caused by yet another set of good reports that confirmed the relatively healthy state of the UK economy. Royal Institution of Chartered Surveyors reported that the house price balance rose from 21 percent in June to 36 percent in July. It was the fastest growth of price since the peak in 2006. The report concluded: […]
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