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Day: November 21, 2013
November 212013
Euro Climbs as Draghi Refuses to Talk About Negative Rates
The euro jumped against the US dollar and the Japanese yen today on signs that the head of the European Central Bank does not consider implementing negative interest rate yet. The currency sank versus the Great Britain pound. The shared European currency was under pressure from talks about negative rates. Yet ECB President Mario Draghi said today that there are no plans for such action, at least not […]
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November 212013
Dollar Mixed on Prospects for Fed Tampering & Poor Data
The US dollar weakened against the euro and the Great Britain pound today after yesterday’ rally. At the same time, the currency managed to reverse yesterday’s drop versus the Japanese yen. The dollar strengthened on the previous trading session as the Federal Open Market Committee mentioned in its policy minutes possibility of monetary tightening in the near future: Many members stressed the data-dependent nature of the current asset purchase program, and some pointed out that, if economic […]
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November 212013
Brazilian Real Falls, Hampered by Budget Concerns
The Brazilian real fell today even after unemployment fell, leading to speculations about probable interest rate hike. Concerns about the budget deficit did not allow the currency to profit from the good news. The Brazilian unemployment rate fell from 5.4 percent in September to 5.2 percent in October. Analysts theorized that falling unemployment and rising inflation will spur the central bank to increase the main interest rate to 10 percent. […]
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November 212013
Rupiah Weaker After Fed Minutes
The Indonesian rupiah fell today as the minutes of its latest Federal Reserve monetary policy meeting showed that policy makers were considering reduction of monetary stimulus. The Fed released its policy minutes yesterday, revealing that quantitative easing tampering may happen rather soon. Prospects for smaller stimulus hurt investors’ confidence, leading to losses among riskier currencies. Previously, the rupiah was rising on hopes that stimulus will […]
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November 212013
EUR/USD Recovers as Draghi Does Not Consider Negative Rates
EUR/USD was falling today, extending yesterday’s slump, but recovered as European Central Bank President Mario Draghi said that he did not consider implementing negative interest rates even though such possibility was discussed on the recent policy meeting. Data from the United States continues to disappoint dollar bulls, though falling unemployment claims helped them to retain confidence. PPI decreased 0.2% in October, matching […]
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November 212013
Minutes Show BoE Not in Hurry to Raise Rates
The Great Britain pound rose against the Japanese yen and fell against the US dollar today after yesterday’s Bank of England monetary policy minutes. The currency also maintained its rally versus the euro. The BoE minutes showed that all nine board members voted unanimously to keep interest rates and the size of asset purchases unchanged. The minutes also revealed that a drop of unemployment to the bank’s target will not automatically trigger […]
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