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Day: December 5, 2013
December 52013
CAD Gains on USD Ahead of Employment Data
The Canadian dollar rose against its US counterpart today on speculations that the recent drop was overdone. The currency remained weak versus the euro and the Japanese yen. Canadian employment data will be released tomorrow. The report is expected to show robust growth by 12,300, which should support optimistic outlook for the Canadian economy and boost the nation’s currency. US nonfarm payrolls will also be released during tomorrow’s session. […]
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December 52013
US Dollar Mixed Against Other Majors
US dollar is mixed against other majors today, looking for direction as economic data is released and policy decisions are made. There are a lot of questions about what’s next for the greenback, and many are waiting for further information. Today, a lot of the focus has been on the ECB and BOE policy decisions. There was also interest in yesterday’s BOC decision. Many Forex traders are looking over statements and decisions, […]
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December 52013
Euro Strengthens as ECB Leaves Rates the Same
Euro is strengthening right now, gaining against its major counterparts on the latest ECB decision to stay the current course. There had been speculation that negative deposit rates were possible, but such an option has been put off for now, and the 17-nation currency is heading higher. Euro is getting a boost today as Forex traders breathe a sigh of relief that the latest possibility of easing — negative deposit […]
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December 52013
Pound Weaker After BoE Meeting
The Great Britain pound declined today after the Bank of England kept the size of asset purchases unchanged and its main interest rate at the record low level. The BoE decided to keep the benchmark interest rate at 0.5 percent and the asset-buying program at £375 billion. No big surprise here. BoE meetings are not usually accompanied by extensive statement, therefore traders have to wait for meeting’s minutes to understand what policy makers were […]
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December 52013
Aussie Dips as Trade Gap Exceeds Expectations
The Australian dollar edged down today, following yesterday’s slump, after a report showed that the nation’s trade balance deficit was much bigger than analysts have anticipated. Losses were relatively small. The Australian trade gap was at A$529 million in October, up from A$271 million in September. The median forecast promised an increase to A$380 million. The Aussie fell after the report, but not far, perhaps because yesterday’s […]
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December 52013
EUR/USD Stronger After ECB Meeting
EUR/USD jumped today after the European Central Bank kept monetary policy unchanged and ECB President Mario Draghi did not hint at possibility of negative interest rates at the press-conference. (Event A on the chart.) Draghi surprised the market at the previous meeting, cutting interest rates unexpectedly. The currency pair was under pressure from very positive US data, but remains strong for now. US GDP expanded 3.6% in the third quarter of 2013, […]
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December 52013
Falling Services PMI Makes Sterling Weaker
The Great Britain pound was relatively flat against the US dollar and the euro today after yesterday’s drop, but continued to fall against the Japanese yen. The losses were caused by the decline of the services’ index. The Markit/CIPS UK Services Purchasing Managers’ Index adjusted for seasonal factors fell to 60.0 in November, the five-month low, from Octoberâs multi-year high of 62.5. Analysts expected a decrease to just 62.1. The gauge was still at a historically high […]
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