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Day: November 20, 2013
November 202013
Japanese Yen Strengthens Against Other Majors
Japanese yen is heading higher today, gaining against its major counterparts as the latest trade news and industry activity data are released. It looks as though Japan’s economy is picking up steam, and that is providing some support to the yen. October’s trade deficit data showed a widening in October. Imports rose sharply, and exports rose more than expected. The trade gap in Japan grew to 1.09 trillion […]
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November 202013
US Dollar Index Drops on Projected Weakness
US dollar is struggling today, with the dollar index falling on projected weakness. Remarks from the Federal Reserve, as well as the latest moves by China, are weighing on the greenback today. Concerns that easing might not be over for the US dollar are rising right now, thanks to the latest comments from the currency Chair of the Federal Reserve. Ben Bernanke indicated that, even if the jobless rate in the United States falls […]
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November 202013
Aussie Falls Ignoring Signs of Growth
The Australian dollar followed its New Zealand counterpart in decline today. Data from Australia was good, but it looks like the South Pacific currencies are determined to fall no matter what. The Westpac Leading Index showed signs of improvement. The report said: Recent above trend growth in the Index is pointing to a much better outcome over the next few quarters. Yet the Aussie fell, ignoring good fundamentals, […]
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November 202013
Positive Fundamentals Do Not Help NZ Dollar
Positive fundamentals did not help the New Zealand dollar to rally. The currency dropped today following yesterday’s decline, leading to concerns that it may reverse the upward trend. The kiwi was rising last week but currently has troubles maintaining the rally. It stalled near the level that stopped the previous rally, suggesting that the currency reached strong resistance. The New Zealand Producer Price Index was much […]
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November 202013
EUR/USD Sinks While Fed Considers End to Stimulus
EUR/USD slumped today even as macroeconomic data from the United States was poor. The minutes of the last Federal Reserve meeting revealed that policy makers thought that stimulus reduction may happen in the near future. The potential quantitative easing tampering was in the center of attention for some time and traders react to any news regarding this event. Retail sales rose 0.4% in October after showing no change in September. The actual […]
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