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Day: September 5, 2013
September 52013
Canadian Dollar Gains as Analysts Expect Positive Employment Report
The Canadian dollar rallied today against some other majors, including the euro and the Japanese yen, as traders expect a positive employment report tomorrow. The currency weakened a bit versus the US dollar. Analysts predict that tomorrow’s employment data will show an increase by 21,200 in August after dropping 39,400 in July. The unemployment rate should stay at 7.2 percent. The euro and the yen weakened against the loonie on such outlook, though the policy decisions […]
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September 52013
Swedish Krona Drops as Interest Rate Cut Remains Possible
The Swedish krona dipped today as the central bank left interest rates unchanged, but some policy makers were arguing that lower rates are necessary to facilitate economic growth. The Riksbank decided to leave its main interest rates unchanged at today’s meeting. The central bank noted in the statement that both global and domestic economies improved, saying: There are now increasing signs confirming that economic activity is […]
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September 52013
GBP/USD Down After BoE Meeting, GBP/JPY Still Firm
The Great Britain pound dropped versus the US dollar today, but remained relatively firm against the Japanese yen after the Bank of England concluded its policy meeting, leaving interest rates and asset purchases unchanged. The BoE kept the main interest rate at 0.5 percent and the asset purchase program at £375 billion at today’s meeting. The bank did not comment on the decision, making some analysts think that policy makers are […]
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September 52013
Euro Loses Ground After ECB Decision
Euro is mostly lower today, losing ground following the ECB rate decision. With other central banks indicating that they could be on the verge of ending easing programs, the eurozone remains committed to looser monetary policy. That is weighing on the 17-nation currency today. ECB President Mario Draghi is concerned that raising rates right now, or sounding to optimistic about the eurozone’s recent economic improvements, could […]
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September 52013
US Dollar Little Changed After Central Bank Announcements
Forex traders have been waiting for central bank data all week, and it is in. The data has offered little in the way of changes for the US dollar, although the greenback has a slight edge. The US dollar index is a little bit higher today. Central bank announcements are rolling in, and that is providing some help for the US dollar on the currency market, although most pairs are rangebound. It […]
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September 52013
EUR/USD Slumps as ECB Plans to Keep Rates Low
EUR/USD sank today after European Central Bank President Mario Draghi reiterated pledge to keep interest rates low for “an extended period”. (Event B on the chart.) The ECB kept its main interest rate unchanged at 0.5% at today’s meeting. US economic data continues to be good. The employment reports were positive too, leading to speculations that tomorrow’s nonfarm payrolls will demonstrate strong growth. Such talks made […]
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September 52013
BoJ Concludes Policy Meeting, Yen Little Changed
The Japanese yen traded sideways today, attempting to rise after the Bank of Japan concluded its September policy meeting and left monetary policy unchanged, refraining from additional easing. The BoJ held a meeting today and the accompanying statement revealed no changes to policy. The central bank noted: Japan’s economy is recovering moderately. Overseas economies as a whole are gradually heading toward a pick-up, although a lackluster performance is partly seen. […]
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