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Day: December 19, 2013
December 192013
Sterling Does Not Give Ground, Retail Sales Help
The Great Britain pound is still resilient, correcting after yesterday’s big rally, but not much. The currency yet again got support from positive domestic economic data that signaled about robust recovery. The sterling was demonstrating healthy performance at the beginning of the current trading session and did not fall far since then. Retail sales helped the currency, showing 0.3 percent growth in November from October. […]
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December 192013
Accelerating Economic Growth Does Not Help Kiwi
New Zealand gross domestic product expanded last quarter more than was predicted by analysts. Surprisingly enough, the New Zealand dollar demonstrated weakness after the news not only against the very strong US dollar, but also versus its Australian counterpart. New Zealand GDP rose 1.4 percent in the third quarter of 2013, exceeding expectations of a 1.1 percent increase and 0.3 percent growth in the second quarter. It […]
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December 192013
Euro Strengthens on Banking Union Outline
Euro is seeing a bit of strength today, thanks to the latest news about the banking union. It’s not enough for the 17-nation currency to overcome its earlier losses to the dollar and the yen, but the euro is paring its earlier losses and looking toward the future. Yesterday, eurozone leaders finally released an outline for its plan to tighten the banking system throughout the eurozone. For the last year and a half, leaders have been trying to figure out […]
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December 192013
EUR/USD Remains Weak After Fed Tapering
EUR/USD remained subdued after yesterday’s stimulus tapering announcement from the Federal Reserve. Today’s US data trailed forecasts for the most part, but this did not help the currency pair to regain strength. Initial jobless claims increased from 369k to 379k last week instead of falling to 336k as was predicted by analysts. (Event A on the chart.) Existing home sales dropped to the seasonally adjusted annual rate of 4.90 million in November […]
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December 192013
Pound Stays Resilient After Fed, Helped by Employment Data
The Great Britain pound was little changed today following yesterday’s massive gains. The rally was caused by very good employment data from the United Kingdom, but was spoiled to a degree by the policy announcement of the US Federal Reserve. The number of Britons seeking unemployment benefits fell by 36,700 from October to November, exceeding analysts’ expectations of 35,200. The unemployment rate unexpectedly fell from 7.6 percent to 7.4 percent. The Bank of England […]
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