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Day: November 19, 2013
November 192013
Canadian Dollar Falls Even as Crude Oil Rallies
The Canadian dollar fell today despite the rally of crude oil — the major export of Canada. The currency dropped as prospects for global growth worsened. Futures for West Texas Intermediate crude oil rose 0.38 percent to $93.8 per barrel in New York today, erasing previous decline. Many commodities and growth-related currencies were rising on speculations about delay of Federal Reserve quantitative easing tampering. At the same time, riskier assets were under […]
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November 192013
EUR/JPY at Record Since November 2009
The euro was higher today as European Central Bank members hinted that the bank has options to battle low inflation. The currency reached the highest level since November 2009 against the Japanese yen. ECB Executive Board member Joerg Asmussen explained that the central bank is ready to take actions against deflation. Regarding prospects for negative interest rates he said: While Iâd be very careful with […]
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November 192013
Rupiah Gains as Speculations About Fed Stimulus Persist
The Indonesian rupiah advanced today with the help of the view that the US Federal Reserve will maintain stimulus, making investors more willing to bring money into emerging economies. Hopes that the Fed will keep its quantitative easing program unchanged were helping riskier currencies. Remarks of some US policy makers about an end to monetary easing made traders nervous a bit. New York Fed President William […]
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November 192013
Leading Indicators Help Aussie to Ignore Dovish RBA Minutes
The Australian dollar rose today as leading indicators advanced, overshadowing the Reserve Bank of Australia monetary policy minutes that were rather dovish. The Conference Board Leading Economic Index for Australia rose 0.3 percent in September. The increase followed the 0.2 percent drop in the previous month. The RBA was rather pessimistic in its policy minutes, saying that “growth in the near term would be constrained”. Additionally, the central bank complained that […]
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November 192013
UK Housing Data Negative for Sterling
The Great Britain pound was soft at the start of this week and maintained weakness today. UK housing data was unexpectedly poor, damping optimism about recovery in the United Kingdom. The Rightmove House Price Index fell 2.4 percent in November after rising 2.8 percent in October. The data damped optimism caused by last week’s positive fundamentals. The Bank of England will release minutes of its last monetary policy meeting on November […]
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November 192013
Canadian Dollar Struggles Ahead of Economic Reports
The Canadian dollar was little changed yesterday, supported by risk appetite of Forex traders, but is falling today on concerns that this week’s reports from Canada will not be good. The currency (often nicknamed loonie) attempted to rally against its US peer at the start of this week as investors were willing to buy riskier assets. China, which is preparing liberal reforms, caused the appetite for risk. Yet […]
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