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Day: November 15, 2013
November 152013
Euro Mixed as Traders Await Data
Euro is mixed today as Forex traders await data. Many are interested in what the revised CPI data will show for October, and there are concerns about what’s next for the eurozone economy moving forward. Recently disappointing results in eurozone CPI resulted in an ECB rate cut earlier this month. Additionally, concerns about GDP and economic slowdown in Germany and France have been weighing on the euro. However, the euro is […]
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November 152013
Home Sales Data Weighs on Canadian Dollar
The latest home sales data is weighing on the Canadian dollar right now, contributing to its losses right now. Earlier, the loonie had been gaining ground on the prospect of continued stimulus in the United States, but there is enough doubt about the Canadian economy moving forward, and enough concern about the US economy that the loonie is heading lower. A combination of factors is sending the Canadian dollar lower against most […]
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November 152013
NZD Rises vs. USD, Gains for Fourth Day vs. JPY
The New Zealand dollar ticked up against its US peer on outlook for prolonged monetary accommodation from the Federal Reserve. The currency also rallied for the fourth straight trading session against the Japanese yen. Previously, Forex market participants were worried that the Fed is going to tamper quantitative easing and these fears were hurting riskier currencies. Now, traders think that perhaps the US central bank will not […]
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November 152013
Yen Remains Weak as Growth Slows & Risk Appetite Rises
The Japanese yen continue to demonstrated weakness today as economic growth slowed, while speculations about prolongation of monetary stimulus from the US Federal Reserve damped demand for safer currencies. Japan’s gross domestic product expanded 0.5 percent in the third quarter of this year from the previous quarter. The growth was above analysts’ forecast of 0.4 percent, but slower than second quarter’s 0.9 percent. Talks that the Fed may […]
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November 152013
Poor Data Supports Case for Stimulus, EUR/USD Rises
Today’s US fundamental data suggested that the economy is underperforming and this contributed to the dollar’s weakness. Additionally, the negative reports supported the view that it is too early for the Federal Reserve to scale back stimulus. EUR/USD was already attempting to rally on such outlook and was able to do so today. NY Empire State Index fell from 1.5 in October to -2.2 in November, indicating worsening conditions for manufacturers. It […]
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November 152013
Pound Maintains Gains with Help of Optimistic Outlook
The Great Britain pound kept its yesterday’s gains against the euro and the Japanese yen today as expectations of accelerating economic recovery in the United Kingdom make the currency more appealing to Forex traders. The sterling was heading to weekly gains against the US dollar and the yen and trimmed losses versus the euro. Prospects for monetary tightening that may happen sooner than was expected were definitely helping the currency. The currency’s rally slowed, though, […]
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