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Day: October 4, 2013
October 42013
China’s Growth Benefits Taiwan Dollar
The Taiwan dollar strengthened yesterday as signs of robust economic growth in China was helping Asian currencies, attracting investors to the region. The latest PMI reports, both manufacturing and non-manufacturing, were quite good, suggesting that China’s growth retains momentum. It made traders more interested in Asian assets. As a result, investors were buying Taiwan bonds, leading the TAIEX index to the highest level since May on a closing basis yesterday. USD/TWD […]
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October 42013
Yen Stronger as BoJ Sees Economy Recovering
The Japanese yen was almost flat versus the US dollar today, but rose against other major currencies, like the euro and the Great Britain pound, after the Bank of Japan left its monetary policy unchanged at today’s meeting. Japanese yen maintained interest rates near zero and kept the ¥60–70 trillion asset purchase program intact. The BoJ said in the statement that “Japan’s economy is recovering moderately”. All in all, […]
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October 42013
Loonie Struggles a Bit on US Government Troubles
Canadian dollar is struggling a bit right now, although the loonie has managed to log some small gains against the greenback. The impact of the US government shutdown is being felt by the Canadian dollar, which is sensitive to economic concerns in the United States. The United States is Canada’s main trading partner, so it is no real surprise that the US government shutdown is having an impact on the Canadian dollar […]
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October 42013
Euro Pulls Back After Hitting 1.36 Against Dollar
Euro is pulling back today after reaching the 1.36 level against the US dollar. The 17-nation currency got a boost earlier, but has since settled back as more traders consider the situation. Euro got a boost from the most recent ECB announcement yesterday, as well as help against the US dollar as the impasse over government funding continues. However, some feel that the greenback might have been oversold against […]
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October 42013
Pound’s Rally Ran Out of Steam?
It looks the rally of the Great Britain pound has run out of steam as the currency dropped yesterday. It attempted to bounce against the US dollar today, but so far the gains were nowhere near yesterday’s drop. It is really no surprise that the sterling has backed down considering how long it was moving to the upside. It is rare for a currency to move in one direction for a long time […]
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October 42013
Dollar Subdued, Has Potential for Relief
The US dollar remains subdued by the budget impasse, but may find a relief soon on signs that politicians become more willing to find a consensus as a government shutdown drags on. The currency slid versus the euro, gained on the Great Britain pound and moved sideways against the Japanese yen. President Barack Obama said that there will not be negotiations on the budget until the Republicans raise the debt ceiling without conditions. There […]
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