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Day: August 27, 2013
August 272013
Dollar Attempts to Maintain Rally, Fails
The US dollar was trying to rally on speculations about possible quantitative easing tampering, but failed to do so against such currencies as the euro and the Japanese yen. The greenback managed to keep gains versus the Great Britain pound. US macroeconomic data was good today, adding to chances of QE tampering in September. The Richmond manufacturing index unexpectedly returned into the positive territory this month, jumping from -11 to 14. The Conference […]
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August 272013
Mexican Peso Suffers from Risk Aversion
This trading session was marked by widespread risk aversion, resulting in losses to currencies of emerging markets. The Mexican peso was among the losers. The tension between the United States and Syria made investors unwilling to risk and encouraged them to stick to safer assets. Speculations about potential quantitative easing tampering by the Federal Reserve continued to affect the market sentiment in a negative manner, especially after today’s good macroeconomic reports from the USA. All […]
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August 272013
Shekel Drops as USA Signal About Attack on Syria
The Israeli new shekel declined today as political tensions in Middle East escalated after the United States signaled about possible attack on Syria in case the Middle Eastern country uses chemical weapons. The USA signaled about possible cruise missiles strike to deter Syria from using chemical weapon. The shekel dropped as investors avoided Israeli assets on concerns that potential conflict will involve Israel. The Bank of Israel kept interest […]
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August 272013
Loonie a Little Lower on Fed Bets, Middle East Jitters
Very little about the Canadian dollar is being driven by what’s happening in Canada today. Instead, the loonie is responding to everything that’s going on in other countries. Fed bets and concerns about the Middle East are weighing on the Canadian dollar right now. US durable goods orders are changing the view of what the Federal Reserve will do about tapering its bond purchase program. Durable goods orders fell […]
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August 272013
Euro Gets Boost as Rate Cut Possibility Fades
Earlier in the month, there had been talk of a possible rate cut at the next ECB meeting. However, the chances of a rate cut are diminishing, and that is providing help for the euro, even as risk appetite flees in the wake of troubles in Syria. The European Central Bank has made it clear during the crisis that it is willing to do whatever it takes to keep the eurozone intact. Additionally, ECB President Mario Draghi […]
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August 272013
EUR/USD Defies Fundamentals
The behavior of EUR/USD was rather strange today as it sharply dropped after the positive German business climate report (event A on the chart), but jumped as US macroeconomic releases also came out good. Whatever the reason for such performance, the currency pair hangs above the opening level as of now. S&P/Case-Shiller home price index rose 12.1% in June from a year ago. The increase was near the May change of 12.2% and the forecast of 11.9%. […]
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August 272013
NZ Dollar Drops Sharply at Beginning of Trading Session
The New Zealand dollar managed to gain yesterday despite the very bad trade balance, but reversed gains today. The currency dropped rather sharply at the beginning of the current trading session and remains soft as of now. The New Zealand trade balance posted the deficit of NZ$774 million in July. It is compared to the consensus forecast of $18 million deficit. It was the biggest shortage in 10 months. Moreover, the figure was the worst July reading […]
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