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Day: September 26, 2013
September 262013
Czech Koruna Gains as Central Bank Does Not Intervene
The Czech koruna gained today as the nation’s central bank kept monetary policy unchanged and refused to intervene by selling the currency. Chances for an intervention in the future remain high though. The Czech National Bank kept interest rates near zero at today meeting. Governor Miroslav Singer was calling for currency sales to aid economic recovery. For now, other policy makers voted down this offer. Probability of an intervention remains high as inflation continues […]
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September 262013
Euro Struggles on Credit Market, Italian Tensions
Euro is struggling today, especially against the US dollar, thanks in large part to the recent developments in the credit market, and due to more trouble in Italy. Concerns about what’s next for the eurozone are once again asserting themselves, and that is putting some pressure on the euro. The latest European Central Bank figures on lending indicate that it is dropping. Lending to businesses and households dropped by a record amount in August. Private sector […]
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September 262013
US Dollar Gains Ground on Latest Growth Report
US dollar is a little bit higher against its major counterparts today, gaining ground after the latest economic report from the second quarter of 2013. Although there isn’t anything particularly stunning in the report, the economic continues to show a steadiness that leads some to believe that the taper in the Federal Reserve’s asset purchase program is eminent. Overall US economic growth remained at 2.5 per cent for the second quarter […]
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September 262013
NZ Dollar Rebounds on Rate Hike Bets
The New Zealand dollar climbed today, paring yesterday’s losses, on speculations that the nationâs central bank will be the first among banks of developed nations to raise interest rates. Speculators bet on 84 percent chance that the Reserve Bank of New Zealand will raise borrowing costs in the first half of the next year. It is surprising to see such optimism considering that just yesterday the outlook was rather pessimistic […]
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September 262013
Pound Retreats as GDP Misses Forecasts
The Great Britain pound retreated today against the US dollar and erased previous gains versus the Japanese yen as Britain’s economy expanded last quarter slower than was previously estimated. Month-on-month, gross domestic product rose 0.7 percent in the second quarter of 2013, the same as the preliminary reading, after expanding 0.4 percent in the first quarter. Yet the annual increase was at 1.3 percent, down from the previous estimate of 1.5 percent. […]
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September 262013
EUR/USD Edges Down with Jobless Claims
EUR/USD was unable to maintain yesterday’s rally today as US jobless claims unexpectedly fell. The political disagreement about the US debt ceiling continued to affect the dollar, but today in a positive way, driving traders to the safety of the US currency. The greenback outperformed the euro even as the US housing market showed signs of weakness, which was rather surprising considering that housing was the strongest sector in the US economy in the recent times. Initial […]
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