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Day: September 4, 2013
September 42013
Canadian Dollar Gains as BoC Leaves Interest Rates Stable
The Canadian dollar climbed today after the nation’s central bank maintained its benchmark overnight rate stable and mentioned no plans to reduce borrowing costs that are already quite low. The Bank of Canada kept its key interest rate at 1 percent today. It was not a surprise for market participants. The central bank said: As long as there is significant slack in the Canadian economy, the inflation outlook remains muted, […]
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September 42013
Zloty Rises as NBP Does Not Plan Cutting Interest Rates
The Polish zloty appreciated today as the nation’s central bank left its key reference rate unchanged and signaled that it is not going to reduce borrowing costs in the future. The National Bank of Poland kept its benchmark interest rate at 2.5 percent. Such decision was expected by market analysts. The bank said in the statement that global and domestic growth improved somewhat in the second quarter of this year. The central bank concluded: […]
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September 42013
Pound Up on Exceptionally Good Services PMI
The Great Britain pound was rising every single day of this week and today was not an exception as the very good data about the service industry drove the sterling even higher. The Markit/CIPS UK Services Purchasing Managers’ Index rose a little from 60.2 in July to 60.5 in August. Analysts have expected a drop to 59.3. The report said: Augustâs survey of UK service providers signalled continued strong growth of activity and new […]
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September 42013
Japanese Yen Logs Small Gains
Japanese yen is logging small gains today, gaining a little ground as uncertainty puts safe haven assets in demand. However, a big move by the yen is unlikely, since there is enough news to keep the currency somewhat weak. With the release of the Fed’s Beige Book expected to boost tapering expectations today, it is little surprise that the yen is showing some signs of weakening against the US dollar. […]
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September 42013
Broad-Based Eurozone Recovery Not Quite Enough
There’s too much uncertainty about the geopolitical situation right now, and that is weighing on riskier assets today. Indeed, the euro is struggling a bit, even though it appears as though there is a broad-based recovery happening in the eurozone. The latest Eurozone Composite Purchasing Managers Index, compiled by Markit Economics, indicates that a broad-based recovery is underway. The PMI reading showed an improvement to 51.5 from the July number of 50.5. […]
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September 42013
Australian Dollar Rallies for Third Day as GDP Growth Matches Estimates
The Australian dollar extended its rally for the third consecutive trading session today as the nation’s economy grew in line with forecasts last quarter, reducing chances for additional interest rate cuts from the central bank. Australian gross domestic product expanded 0.6 percent in the second quarter of 2013, matching analysts’ expectations exactly. The first quarter’s growth was revised down by 0.1 percentage point to 0.6 percent. Australian Industry Group […]
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