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Day: October 25, 2013
October 252013
US Dollar Ends Week Near Lowest in Two Years vs. Euro
The US dollar ended the week near the lowest level in two years against the euro. The greenback closed almost flat versus the Japanese yen and rose versus the Great Britain pound today. The dollar was weakened by the negative consumer sentiment report from the University of Michigan. The index fell from 77.5 in September to 73.2 in October, according the revised reading. It was even lower than already poor preliminary estimate of 75.2. The Federal […]
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October 252013
Bank of Canada Announcement Weighs on Loonie
Yesterday’s announcement from the Bank of Canada continues to influence the loonie in trading. The Canadian dollar is still struggling today after the change in the central bank’s stance, and the language used to forecast the likely economic situation through 2015. Yesterday, the Bank of Canada announced that inflation is unlikely to hit its 2 per cent target until the end of 2015. Back in July, the forecast called for the 2 per cent target to be hit […]
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October 252013
Japanese Yen Shows Strength in Trading
Japanese yen is showing strength in trading today, heading mostly higher against its major counterparts. There has been a degree of fluctuation very recently, but earlier, the yen logged some solid gains. Japanese yen has been extending its recent gains recently, heading mostly higher against its major counterparts. While some of the gains have been pared back in more immediate trading, the fact […]
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October 252013
Euro Flat as German Business Climate Disappoints
The euro was flat today as a report from Germany disappointed Forex market participants, causing speculations that the recovery of the euro-region is still in danger and the recent strong rally of the shared 17-nation currency was unwarranted. The Ifo Business Climate Index Germany fell from 107.7 in September to 107.4 in October, while analysts predicted an increase to 108.2. It was the first decline in six months. The report said: Assessments of the current business situation […]
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October 252013
Pound Fails Even as UK Economy Grows
The Great Britain pound fell today even as data confirmed that the UK economy is on a stable path to recovery. The currency is consolidating after it has failed to breach the September highs. Britain’s gross domestic product expanded 0.8 percent in the third quarter of 2013, matching market expectations. The report supports the view that the central bank does not need to ease monetary policy further. Yet the currency was unable […]
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October 252013
EUR/USD Flat, Trades Near Record Since 2011
EUR/USD was flat today as news from both Europe and the United States was not particularly good. The US consumer sentiment worsened, while the German business climate index fell after five consecutive increases. The currency pair was still trading near the highest price since November 2011. Durable goods orders rose 3.7% in September, exceeding traders’ expectations of 1.7% and the August growth of 0.2%. At the same time, the core […]
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