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Day: October 21, 2013
October 212013
Dollar Firm Ahead of NFP, Trims Gains vs. Euro on Housing
The US dollar was relatively strong today ahead of tomorrow’s non-farm payrolls. The currency trimmed its gains versus the euro after the release of housing data that was worse than market participants have hoped for. US existing home sales dropped to the seasonally adjusted annual rate of 5.29 million in September from the downwardly revised 5.39 million in August, more than was expected. The decline was explained by prices […]
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October 212013
Canadian Dollar Trades Mixed Ahead of Economic Releases
Loonie is trading mixed today ahead of economic releases expected in the next few days. With the US jobs data due tomorrow, and with a report from the Bank of Canada due on October 23, there is a lot of speculation about what will be revealed at those times. On October 23, the Bank of Canada is expected to release its monetary policy report, as well as announce a rate decision. Right now, many […]
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October 212013
Could the Euro be a Haven from the US Dollar?
Euro is slightly lower against the US dollar right now, but that doesn’t mean some sort of strength isn’t there. Indeed, with concerns about what crisis mongering will do to the US economy, some believe that the euro could act as a haven from the US dollar. Euro is a little bit lower today in trading against most of its major counterparts. However, even though the 17-nation […]
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October 212013
GBP/JPY Rises with Surge of HPI, GBP/USD Falls
The Great Britain pound fell against the US dollar today even though UK house prices surged this month. The currency advanced versus the yen, which was weakened by widening Japan’s trade balance deficit. The Rightmove House Price Index jumped 2.8 percent in October from the previous month and 13.8 percent from a year ago. It was a biggest advance since February. Bank of England policy maker Ben […]
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October 212013
Wider Japan’s Trade Deficit Leads to Weaker Yen
The Japanese yen slipped today as the nation’s trade deficit widened last month, giving incentive for the central bank to further ease monetary policy that is already extremely accommodative. Japan’s trade balance posted a deficit of ¥1.09 trillion in September, up from ¥0.82 trillion in August. It was bigger than analysts have expected. The Bank of Japan was refraining from adding monetary stimulus for some time, but the latest […]
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October 212013
EUR/USD Trims Losses as US Data Starts Coming
The last week was extremely poor on data from the United States as government agencies were closed. Now they have reopened and reports start to come to market participants. Some experts are worried that reports will be skewed and unreliable because of the government shutdown, but at least traders get some information about the state of the US economy. The first report this week was housing data that was not […]
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