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Day: September 11, 2013

September 11
2013

NZ Dollar Climbs as RBNZ Mentions Interest Rate Hike

The New Zealand dollar climbed today after the Reserve Bank of New Zealand kept its key Official Cash Rate (OCR) unchanged, but mentioned that an interest rate hike probably will be required next year. The RBNZ kept its main interest rate at 2.5 percent at today’s policy meeting. Reserve Bank Governor Graeme Wheeler said in the accompanying statement that the outlook for the global economy “remains mixed”. […]

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September 11
2013

Fears of War in Syria No Longer Support Dollar

The US dollar was soft today as possibility of a peaceful resolution of the situation in Syria made Forex traders less interested in the currency as a protection against geopolitical risks. US President Barack Obama asked the Congress to delay the vote on military actions against Syria. Obama decided to postpone voting after Russia offered to control usage of Syrian chemical weapons. The probability of a diplomatic resolution of the conflict made the dollar less attractive as a safe haven and the Dollar […]

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September 11
2013

Economic Outlook Helps the Loonie Against the Greenback

The Canadian dollar is getting some help against the US dollar today, thanks to the economic outlook, as well as a bit of risk appetite as tension in the Middle East ease a little bit. With expectations that the Canadian economy will be able to hold its own, the loonie is getting a little help. The latest Canadian economy data was better than expected, with the jobs forecast surprising to the upside. While the US jobs […]

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September 11
2013

Euro Mostly Rangebound Today as Traders Wait for FOMC

Euro is mostly rangebound today, with a slight propensity toward weakness against currencies that aren’t the US dollar. There is a lot happening right now, and many traders seem ready to wait until next week, and the next FOMC announcement. There is a lot happening unexpectedly right now. US nonfarm payrolls didn’t offer the expected performance last week, and there is increased hope for a diplomatic solution […]

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September 11
2013

Vietnamese Dong Recovers After Decline

The Vietnamese dong dipped today together with government bonds, but managed to recover later. Economists were speculating that credit growth in the country is accelerating, improving prospects for the economy. Experts reported that the value of outstanding loans was growing and may reach the central bank’s target this year. This is not good for securities as banks have fewer funds to buy them, but a good sign for the country’s economy. […]

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September 11
2013

Employment Data Adds to Strength of Sterling

The Great Britain pound advanced today as macroeconomic reports from the United Kingdom were positive yet again. The employment data was especially good, adding to evidences that economic recovery is gaining momentum. The number of people claiming Jobseeker’s Allowance fell by 32,600 in August, outpacing the forecast of 21,200. The unemployment rate unexpectedly dipped by 0.1 percentage point to 7.7 percent in August. The Conference Board Leading Index rose by 0.7 percent […]

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September 11
2013

EUR/USD Rallies as Tensions About Syria Ease

The dollar was falling during every trading session this week so far and posted its fourth consecutive daily drop today as Russia stepped in to cool the tensions between the United States and Syria, proposing to oversee the usage of Syrian chemical weapons. Moreover, it looks like Syria is going to agree not to use such weapons at all. The news reduced fears on the Forex market, diminishing need for the dollar as a safe asset. […]

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