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Day: December 16, 2013
December 162013
Canadian Dollar Falls as Traders Weigh Chances for Fed Tapering
The Canadian dollar fell today as Forex traders were weighing chances for the US Federal Reserve to taper its monetary stimulus at this week’s policy meeting. The losses were not particularly big as the market was somewhat quiet ahead of the gathering. The Fed meets on Wednesday and all attention is focused on the upcoming event. Signs of recovery in the United States allow economists to speculate that the US central bank may trim the size of the stimulus […]
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December 162013
Tankan Survey Helps Yen to Gain
The very good Tankan survey, which was released today, helped the Japanese yen to rally, though gains were relatively small. Nervousness on the Forex market ahead of the Federal Reserve meeting was helping the currency too. The Tankan manufacturing index for large enterprises rose from 12 in September quarter to 16 in December quarter, exceeding expectations and reaching the highest level since 2008. The non-manufacturing index was up from 14 last […]
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December 162013
Yuan Flat After Manufacturing PMI Slips
The Chinese yuan was little changed against the US dollar today after data showed that Chinese manufacturing sector expanded with slower a pace than was predicted by analysts. The HSBC Flash China Manufacturing Purchasing Managersâ Index eased from 50.8 in November to 50.5 in December. Forecasters promised an increase to 51.0. The gauge remained above the neutral 50.0 level, still indicating expansion of the sector, but at slower rate. USD/CNY […]
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December 162013
NZD Fluctuates vs. USD Even as Consumer Confidence Improves
The New Zealand dollar fluctuated against its US counterpart even as consumer confidence in the South Pacific nation improved. The currency also fell versus the Japanese yen. The Westpac Consumer Sentiment rose to 120.1 this quarter from 115.4 in September quarter, reaching the highest level since September 2009. The report said: Consumers have become much more optimistic about the economy, and more upbeat about their own finances. Traders […]
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December 162013
Euro Heads Higher on Better Economic Data
Euro is gaining ground today, heading higher as better economic data helps the 17-nation currency. Factory output grew at a better rate than expected, and Germany is once again leading the economic recovery charge. Euro is gaining against most of its major counterparts as a result. The eurozone continues to recover from its recent double-dip recession. This time, the better than expected news comes in the form of the latest factory […]
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December 162013
US Dollar Drops, Even With Taper Speculation
The US dollar is heading lower today, dropping even though there is speculation that the Federal Reserve will announce the beginning of its taper this week. The thought of low interest rates and the fact that the US economy might not be quite ready for taper are weighing on the greenback right now. Members of the FOMC at the Federal Reserve plan to have their last two-day meeting of the year this week. Many […]
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December 162013
Week Begins Favorably for EUR/USD
Data from the United States and Europe was rather mixed today, but traders paid more attention to positive European reports, driving EUR/USD higher. This week will be very important for the dollar as for the last time Ben Bernanke will participate in Federal Reserve meeting as Chairman and market participants wait anxiously what decision he will make before leaving the office. NY Empire State Index was at 1.0 […]
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