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Day: September 17, 2013
September 172013
Canadian Dollar Gains with Help from Manufacturing Sales
The Canadian dollar posted gains today with help from manufacturing sales and doubts about quantitative easing from the Federal Reserve that improved the risk sentiment on the Forex market. Canadian manufacturing sales grew 1.7 percent in July, beating the market expectations of 0.6 percent by a wide margin. The June reading was revised positively from -0.5 percent to -0.1 percent. Worse-than-expected macroeconomic data from the United States made investors […]
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September 172013
Turkish Lira Falls on Prospects for Interest Rate Cut
The Turkish lira dropped today after the nation’s central bank left interest rates unchanged, but suggested that it will perform additional monetary easing in the future. The Central Bank of the Republic of Turkey maintained its lending rate at 7.75 percent today. The bank was rather optimistic about developments in the economy: Recent data suggest that final domestic demand and exports continue to grow at a moderate pace. The current policy framework […]
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September 172013
Euro Gets Help from Improved German ZEW
The euro is getting some help today, thanks to the latest German ZEW data. The latest sentiment data offers a high not since for more than three years, and that is providing support for the euro, even as Forex traders start to shift their focus toward the Federal Reserve meeting in the United States. The latest German ZEW economic sentiment poll headed up to 49.6 for September. This represents a huge jump from […]
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September 172013
UK Inflation Report Sends Pound Lower
The latest report on inflation out of the United Kingdom was disappointing, and is weighing on the pound. Without inflation to indicate economic growth and a need for tightening, the Bank of England is likely to continue its asset purchase program for a little while longer. Even though there have been some indications of economic growth for the United Kingdom, the relatively tame inflation rate is preventing the Bank of England from preparing to scale back its asset […]
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September 172013
EUR/USD Gains on Improving Confidence, Halts Rally
EUR/USD attempted to rally today on reports that showed an improvement of the economic sentiment in Germany and the whole eurozone. (Event A on the chart.) The rally stalled and the currency pair is moving down to the opening level right now. Tomorrow, the Federal Reserve announces its policy decision and hold press-conference. It will likely have a big impact on the Forex market. CPI ticked up 0.1% in August, while analysts have hoped for the same rate of growth […]
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September 172013
Dollar Rebounds After Decline
The US dollar slid yesterday, but managed to rebound and advanced today even though Forex traders felt uncertainty about future monetary policy of the US central bank. The news about withdrawal of Treasury Secretary Lawrence Summers from the race for the office of Federal Reserve Chairman shook the Forex market, igniting speculations that monetary policy will remain accommodative for a long time. Negative fundamental reports supported such outlook. The Empire […]
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