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Day: October 30, 2013
October 302013
South Korean Won Joins Rally Ahead of Fed Announcement
The South Korean won was among currencies of emerging markets that were supported by expectations of prolonged quantitative easing from the US Federal Reserve, rising against the dollar today. The won joined other currencies in a rally as traders were speculating that the Fed has no reason to tamper QE. At the same time, some analysts were worried that absence of stimulus trimming was priced in and the rally may be reversed after […]
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October 302013
Mexican Peso Gains Ahead of FOMC Meeting
The Mexican peso gained today ahead of the Federal Reserve policy meeting on speculations that the Fed will maintain pace of its asset purchases, weakening the dollar and supporting risk-sensitive currencies. The Federal Open Market Committee will announce its decision today and it is widely believed that quantitative easing will remain in place. The disappointing employment report certainly did not give an incentive for the FOMC to trim stimulus. Therefore it […]
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October 302013
Aussie Mixed After RBA Comments
Aussie is mixed today following comments from the governor of the Reserve Bank of Australia. However, there is a good chance that the comments will send the Aussie a bit lower in the future, since he said outright that he expects the Australian dollar to head lower in the future. Glenn Stevens, the governor of the Reserve Bank of Australia, said earlier today that the Aussie isn’t being properly supported by the economy, and that he thinks […]
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October 302013
Japanese Yen Weakens Across the Board
Japanese yen is heading lower today, weakening across the board as the latest economic data comes in. Concerns that yen policymakers will need to continue to work to keep the yen weaker are on the rise right now as the latest data indicates the possibility of an economic slowdown, as well as concerns about what is next for the US economy. According to the Ministry of Economy, Trade and Industry in Japan, industrial production rose to 1.5 per cent, […]
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October 302013
EUR/USD Slumps After FOMC Meeting
The dollar jumped after the Federal Open Market Committee maintained its stimulating measures. The statement released by the FOMC was perceived as being less dovish than was expected, propelling the US currency higher. There were not many other good reports for the greenback. The employment data was even worse than pessimistic expectations. ADP employment showed an increase by 130k in October, far below the projected 151,000 growth. What is […]
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October 302013
Pound Falls, Has Potential to Rally
The Great Britain pound remained soft today, falling for the whole week so far, but may yet rally in the near future as economic recovery can potentially encourage the central bank to review its monetary policy sooner than was previously expected. UK gross domestic product grew 0.8 percent in the third quarter of this year, fastest since 2010. Such performance led to speculations that the Bank of England should […]
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October 302013
CAD Soft vs. USD After Poloz’s Comments
The Canadian dollar was soft against its US peer as Bank of Canada Governor Stephen Poloz indicated that he will keep monetary policy accommodative for an extended period of time. The currency gained against the euro and the Japanese yen. Poloz voiced his concern about downside risks to inflation, which was persistently below the 2 percent target, yesterday: Inflation has persistently been below target. Any negative inflation […]
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