Day: December 24, 2013

December 24
2013

Dollar Ends Trading with Gains, Economic Data Helps

The US dollar ended today’s short trading session with gains against most major currencies, though falling versus the Great Britain pound, as the positive outlook for the US economy led to speculations about additional quantitative easing tapering from the Federal Reserve. Indeed, macroeconomic data supported such view. Durable goods orders climbed 3.5 percent in November, exceeding specialists’ expectations, after falling 0.7 percent in October. New […]

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December 24
2013

Canadian Dollar Falls After Three Days of Gains

The Canadian dollar fell for the first day in four against its US counterpart and was flat versus the euro and the Japanese yen on the outlook for monetary policies of Canada’s and the US central banks. It is expected that the Federal Reserve will continue to reduce its monetary stimulus after tapering quantitative easing this month as the US economy becomes stronger. Today’s data suggested that economic recovery is indeed gaining momentum. […]

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December 24
2013

Yen Remains Subdued After BoJ Report

The Japanese yen remained subdued today even after the Bank of Japan released rather optimistic report, promising growth for the nation’s economy. The BoJ released its Monthly Report of Recent Economic and Financial Developments today. The report said: With regard to the outlook, Japan’s economy is expected to continue a moderate recovery as a trend, while it will be affected by the front-loaded increase and subsequent decline in demand prior to and after the consumption tax hike. […]

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December 24
2013

Mexican Peso Drops, Volatility Eases

The Mexican peso fell today as Forex market participants were speculating that the US Federal Reserve will continue to reduce its monetary stimulus, hurting riskier currencies. Several Fed members talked this week about additional stimulus cuts, confirming that last week’s tapering was just a beginning. On one hand, such talks hurt high-beta currencies, including the peso. On the other, peso’s volatility fell after the US […]

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December 24
2013

Euro Struggles Against Other Currencies on Economic Data

Euro is struggling against other currencies right now, mostly lower as other currencies gain the upper hand, thanks to better economic data. Better data reports in the United States and United Kingdom are helping the dollar and the pound. Optimism for other countries is helping keep currencies like the dollar and the pound higher against the euro today. In the United States, durable goods orders are helping boost the greenback, as is the news […]

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December 24
2013

EUR/USD Turns Down on Fed Tapering Speculations

EUR/USD ticked down today as traders were speculating that the Federal Reserve may continue tapering of stimulus. Indeed, several Fed members were speaking this week about such possibility. Data from the United States was favorable, supporting such speculations. The rest of the week will be light on economic reports because of the Christmas holiday. Durable goods orders climbed 3.5% in November after falling 0.7% in October. Analysts […]

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December 24
2013

USD Rebounds, Rises for Second Day vs. JPY

The US dollar was falling yesterday, but bounced today on speculations that the Federal Reserve will continue cutting monetary stimulus. The greenback rallied against the Japanese yen for the second session on prospects that the Bank of Japan will keep its monetary policy accommodative. The US currency rallied last week after the Fed decided to start tapering of quantitative easing. The dollar retreated at the start of this week as traders were quitting the bets […]

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December 24
2013

Canadian Dollar Rises on GDP, Loses Gains

The Canadian dollar advanced yesterday after data showed that the nation’s economy grew in October faster than was expected. The currency retreated versus the US dollar and the euro today, but retained its gains versus the Japanese yen. Canadian gross domestic product expanded 0.3 percent in October, at the same rate as in September. Analysts have expected it to grow just 0.1 percent. The expansion was led by the manufacturing sector. The loonie […]

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