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Day: August 28, 2013
August 282013
UK Pound Mixed Ahead of Carney Speech
All eyes are on Mark Carney and the Bank of England today. The pound is mixed as Forex traders wait for his first official policy speech since becoming Governor of the BOE. There is concern about inflation, and what’s next for the pound, and many are waiting to see what direction the sterling is likely to go next. There has been a lot of interest in the pound lately. With signs of recovery in the UK economy, and with […]
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August 282013
Euro Struggles After Lending Data Release
Euro is struggling today as uncertainty and the latest economic data weigh on the 17-nation currency region. Even though there have been some improvements in the last few weeks, concerns about what’s next are weighing on the euro. The latest data out of the eurozone shows that lending to the private sector contracted in July. The news indicates that there are still some difficulties in the 17- nation currency region when it comes […]
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August 282013
Franc Mixed, Swiss Economy Looks Stable
The Swiss franc was mixed today even as the general risk-adverse market sentiment was beneficial to the currency. The Swissie rose a little against the euro, but fell versus the US dollar. Risk aversion rules the Forex market this week and it benefited safe currencies, including the yen and the franc, but still they perform not as well as they should. The UBS consumption indicator remained virtually unchanged in July. Other indicators, including […]
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August 282013
Yen Attempts to Rally on Risk Aversion
The Japanese yen was attempting to rise today against other most-traded currencies as risk aversion prevailed on the Forex market. The currency failed to keep gains versus the US dollar, but maintained rally against the Great Britain pound. Geopolitical tensions in Middle East continue to drive markets and this increases bid for safer assets. The yen, being one of such assets, excels in such environment, though its performance today was not […]
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August 282013
EUR/USD Dips as USA Threatens to Attack Syria
EUR/USD sank today as tensions between the United States and Syria made investors stick to safer assets. Today’s US macroeconomic data was not good at all, but it did not prevent the dollar from a sharp jump. Pending home sales dropped 1.3% in July after falling 0.4% in June. It was an unexpected and unpleasant result as experts have anticipated a 0.2% increase. Yet not everything was bad […]
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August 282013
Hungarian Forint Drops as Central Bank Performs Interest Rate Cut
The Hungarian forint weakened today after the nation’s central bank performed an interest rate cut yesterday. The general market sentiment was not helping the currency either. The Magyar Nemzeti Bank (the central bank of Hungary) reduced its main interest rate by 20 basis points to 3.8 percent at yesterday’s meeting. The bank explained its outlook: In the Councilâs judgement, Hungarian economic growth is likely to recover gradually this year; however, […]
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