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Day: October 8, 2013
October 82013
Budget Impasse Continues to Weigh on Greenback
The current budge impasse continues to weigh on the greenback today, sending the currency lower against the euro and the pound. US dollar has managed to log gains against the Japanese yen, but the dollar index is lower today anyway. Disagreements over how to end the government shutdown are the focus for the US dollar right now, and that is weighing on the greenback’s performance. After shutting down the government over the Patient Protection and Affordable Care […]
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October 82013
Euro Gets Boost from Jobs Data, German Improvements
Euro is getting a boost today, thanks in large part to the latest jobs data, and to improvements in Germany’s economic data. Germany is seeing an increase exports, and there is a decline in the eurozone’s jobless rate. Right now, the German economy is making strides. Exports rose in August, according to the Federal Statistics Office, and there was also a drop to 6.9 per cent unemployment for Germany. On top of that, the ZEW reports that investor […]
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October 82013
Aussie Rallies as Business Confidence Improves
The Australian dollar rallied today despite concerns about the situation in the United States that made the currency drop yesterday. The Aussie profited from improving business confidence. The business confidence index of the National Australia Bank climbed from 4 in August to 12 in September. The report said: Confidence surges to its highest level in 3½ years. Business conditions, however, still subdued â with employment poor. AUD/USD rallied from 0.9426 […]
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October 82013
Pound Recovers as Optimism Returns
The Great Britain pound erased its losses versus the US dollar and rose against the Japanese yen as positive macroeconomic data revived optimism for recovery in the United Kingdom. Analysts’ pessimistic expectations about the sterling were not correct so far. The currency rallied as the Residential Market Survey of Royal Institution of Chartered Surveyors was quite positive. The Quarterly Economic Survey of the British Chamber of Commerce was very good too. David Kern, […]
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October 82013
Canadian Dollar Retains Losses
The Canadian dollar retained its yesterday’s losses today that were caused by the abysmal building permits data. Worries about the US budget impasse did not help the currency either. Canadian building permits slumped 21.2 percent in August from July, when an increase by 21.4 percent was registered. Analysts’ forecasts were nowhere near the actual data, promising a decrease by just 2.4 percent. The problems in the United States, the biggest […]
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October 82013
Yen Rallies as US Budget Standoff Persists
The Japanese yen rallied as fear of a potential default in the United States made Forex traders to flock to safer currencies. There were hopes that US politicians will reach a compromise soon, but now it looks like nobody is willing to give up first and the standoff continues. Republican House speaker John Boehner said that the House will not approve raising debt ceiling unless the Obamacare will be […]
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