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Day: October 28, 2013
October 282013
US Dollar: Week of Weakness or Week of Recovery?
The US dollar has experienced a massive sell-off after the Federal Reserve refrained from reduction of monetary stimulus and, especially, after US politicians failed to agree on a budget, leading to a government shutdown. Can the greenback recover this week? The major event over the week is the Fed policy meeting. Previously, it was widely accepted that the central bank is going to taper quantitative easing. Of course, the budget issues made […]
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October 282013
Central Banks’ Accommodative Policies Make Aussie Stronger
The Australian dollar advanced today on speculations that central banks around the world will maintain monetary accommodation. Hopes that China will continue to show sustainable growth also helped the currency. It is expected that the Bank of Japan will keep its extremely accommodative policy intact this week and the Federal Reserve and the Reserve Bank of New Zealand will do the same. Such speculations support demand for the Aussie among […]
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October 282013
Yen Opens Lower as BoJ Maintains Easing Bias
The Japanese yen opened sharply lower today as Bank of Japan Deputy Governor Kikuo Iwata said that the central bank will maintain its monetary easing. The currency attempted to regain some of its strength since the opening, but failed so far. Iwata said over the weekend that the BoJ will continue to buy bonds until it reaches the 2 percent inflation target. Such comments hurt the yen and improved […]
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October 282013
Poor US Data Does Not Prevent Drop of EUR/USD
EUR/USD dropped today even as US housing data was exceptionally poor, suggesting that traders will not see quantitative easing tampering this week or, indeed, this year. Not all reports were bad though as industrial production looked pretty solid. Both industrial production and capacity utilization rate imporved in September. Production expanded 0.6%, above the August rate of 0.4% and the forecast of 0.5%. Capacity utilization […]
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