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Day: October 9, 2013
October 92013
US Dollar Gains Ground as Uncertainty Continues Over Shutdown
US dollar is higher today, thanks in large part to uncertainty over the government shutdown. So far, there are no signs of an end to the impasse, and the added stress of a debt ceiling debate could be coming next. Risk aversion is making an appearance as a result, and there are concerns about what could be next. Greenback is a little higher against its major counterparts today. A little spark of risk […]
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October 92013
Poor Economic Data Hurts Sterling
The Great Britain pound slid today as UK macroeconomic data disappointed traders and led to doubts about recovery that now seems more fragile that it looked previously. It was expected that manufacturing production will affect the pound significantly. It has indeed done so, but in a completely unexpected manner. Manufacturing production It was expected from July, while forecasts promised 0.3 percent growth. […]
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October 92013
Aussie Logs Gains Ahead of Jobs Report
The Australian dollar today rose ahead of tomorrow’s employment data, which is expected to be good, even as the consumer sentiment retreated. Analysts predict that tomorrow’s report will show an increase of employment by 15,200 jobs. The Westpac Melbourne Institute Index of Consumer Sentiment fell by 2.1 percent in October after jumping 4.7 percent in the prior month. Still, the report called the reading “a solid result”, explaining that the decline was expected […]
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October 92013
EUR/USD Drops on FOMC Minutes
EUR/USD dropped today on the announcement that Janet Yellen will be the next leader of the Federal Reserve. The dollar gained even though Yellen is considered to be dovish and is likely to keep monetary accommodation for longer time. The minutes of the last Fed meeting showed that policy makers were very close to tampering quantitative easing. It also boosted the US currency even as the current budget deadlock makes QE tampering […]
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October 92013
Franc Slides Despite Good Fundamentals, Stays Away from Ceiling
The Swiss franc slumped today even as yesterday’s macroeconomic data from Switzerland was rather good. As a result, the currency stays far away from the cap of 1.20 per euro that has been set in September 2011 by the central bank. The currency managed to gain on the Japanese yen. Swiss retail sales grew 2.4 percent in August from a year ago, exceeding the consensus forecast of 1.7 percent. The Consumer Price Index rose […]
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October 92013
Canadian Dollar Falls as Trade Deficit Widens
The Canadian dollar dropped yesterday as the unexpected increase of the nation’s trade deficit added to pessimism caused by the budget impasse in the United States. The currency attempts to rebound against the Japanese yen today, but keeps losses versus other major currencies. US politicians continue to bicker even as other nations urge them to get together and avoid hurting the world economy. There is not much time left before the USA runs out […]
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