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Day: January 8, 2014
January 82014
Growth Outlook Boosts UK Pound
The latest growth outlook for the UK economy is pushing the pound higher today. Pound reached a five-week high against the euro, thanks to the fact that the United Kingdom is expected to see greater growth in the coming year than the eurozone. Sterling is pushing higher today, following a report from the Bank of England indicating that mortgage availability increased during the fourth quarter of 2013. Separately, lender Halifax reported that home […]
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January 82014
Forecast: Dollar in 2014
The US dollar was demonstrating a lackluster performance until recently as the Federal Reserve kept its extremely accommodative monetary policy, while debt and budget issues made the safe haven role of the US currency highly questionable. Yet the Fed surprised the Forex market at the end of 2013, trimming its monetary stimulus. Does this mean that the greenback is ready to a surge upward in 2014? It is a possibility, but not a guarantee. […]
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January 82014
Yen Drops on Continued BOJ Easing
Yen is lower against most of its major counterparts today, dropping as continued easing from the Bank of Japan is expected. Even with some of the recent improvements to the Japanese economy, “Abenomics” is expected to continue, and that means long-term yen weakness. While other countries, particularly the United States and the United Kingdom, start to look at ways to move away from easing measures, Japan is still committed to its stimulus […]
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January 82014
Dollar Strengthens on Positive Reports, Ignores Risk Appetite
EUR/USD somewhat lost its ground today as mostly positive macroeconomic news from the US failed to ignite enough risk appetite to overshadow the resulting dollar strength. The currency pair reacted bearishly to every US report today, even those that disappointed bullish USD traders. ADP employment report for December became today’s volatility trigger when it showed a gain of 238k compared to November’s 229k (revised positively from […]
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