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Day: November 12, 2013
November 122013
Euro Hangs on to Gains, but Questions Remain
Euro has managed to hang on to recent gains, heading higher as better news adds a degree of optimism. However, the fact remains that the eurozone is emerging from its second recession in the last five years, and there are still plenty of questions about the fate of the euro going forward. Recent gains for the euro have been providing some hope for the eurozone and the sustainability of the recent recovery. Indeed, the euro is higher across the board […]
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November 122013
Yen Maintains Weakness
Japanese yen is maintaining its weakness right now, underperforming by many standards. The yen is down against its major counterparts, and this state of affairs is unlikely to change, with Japanese officials preferring a weak yen to a strong one. For 2013, the Japanese yen is on track to be one of the weakest currencies. Many consider that the yen is underperforming, but there is no real reason, as yet, to favor […]
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November 122013
Pound Drops as Fundamental Data Disappoints
The Great Britain pound tumbled today as today’s macroeconomic releases were disappointing, especially to those who were bullish on the currency. Most importantly, inflation slowed more than was expected. The Consumer Price Index was at 2.2 percent in October, falling from 2.7 percent in September and trailing the forecast of 2.5 percent. The House Price Balance of Royal Institution of Chartered Surveyors jumped to 57 percent in October, but was still below […]
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November 122013
Aussie Falls vs. Greenback as Business Confidence Deteriorates
The Australian dollar fell against its US peer today, dropping for the fourth straight trading session, as business confidence deteriorated last month. The currency rose versus the Japanese yen. The NAB Business Confidence fell from 12 in September to 5 in October. The report said: Businesses may have reassessed their expectations about future activity in the changed political environment given the continued weakness in actual business conditions. Nonetheless, overall confidence […]
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November 122013
Canadian Dollar Mixed After Holidays
The Canadian dollar demonstrated a mixed performance today, falling against its US counterpart, rising versus the Japanese yen and staying flat against the euro. Signs of economic growth in the United States, the major Canada’s trading partner, were helping the loonie somewhat. Yet those same signs led to speculations that the Federal Reserve will scale back its stimulus and such talks are negative for the Canadian currency. The conflicting fundamentals resulted […]
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November 122013
Euro Strong, Endangered by Slowing Economic Growth
The euro was relatively strong at the start of the week, but speculators are concerned that this week’s fundamental reports may hurt the currency, showing slowing economic growth. The beginning of the week was good from the macroeconomic point of view as Italian industrial production grew 0.2 percent in September following the 0.2 percent decline in August. Still, other reports released this week are not expected to be as good. Most importantly, […]
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