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Day: January 14, 2014
January 142014
Yen Tumbles as Current-Account Deficit Widens to Record
The Japanese yen sank today as the nation’s current-account deficit widened, reaching the historic high level, leading to concerns that policy makers will be forced to take additional steps to spur economic revival in Japan. Japan’s current account gap increased to ¥5.93 billion in November from ¥1.28 in December. Forecasters have promised that it would not change much. The data does not bode well for Japan’s economy and the Bank […]
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January 142014
UK Inflation Reaches BoE Target, Pound Up
The Great Britain pound advanced today against its major peers as inflation slowed, hitting the target set by the central bank for the first time in more than four years and fueling optimism for economic recovery in the country. Annual growth of the Consumer Price Index fell from 2.1 percent in November to 2.0 percent in December. This was not expected by analysts, who have thought that the gauge would stay the same. Usually, falling […]
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January 142014
Turkish Lira Falls amid Current Account Deficit & Corruption Scandal
The Turkish lira fell today as the nation’s current account deficit widened, while the corruption scandal continues to deter investors from bringing capital into the country. The shortfall of the Turkish current account widened from $2.9 billion in October to $3.9 billion in November. It was above the $4.3 billion median estimate of economists. The police probe into some politicians’ activities hurt Turkey’s attractiveness as an economy into which to bring money. USD/TRY […]
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January 142014
Real Rises as Central Bank Starts Policy Meeting, Sheds Gains
The Brazilian real weakened today on concerns that the US Federal Reserve will continue reducing the size of its asset purchases. Earlier, the currency advanced as the Brazilian central bank started a two-day policy meeting. The last week’s report showed that annual inflation accelerated to 5.91 percent from previous year’s 5.84 percent even though Alexandre Tombini, the Governor of the Central Bank of Brazil, promised that would not increase further. […]
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January 142014
Factory Output Doesn’t Do Much for the Euro
Euro is a little lower today, even after the latest factory output data that indicated that industrial production is on the rise. Even with the better than expected news, the euro is still struggling today. Risk aversion is evidence today, and that might be holding the euro back a bit in Forex trading, even with the better economic data that has just been reported. Industrial production […]
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January 142014
Cautious Optimism Not Enough to Sustain Loonie
The Canadian dollar got a little bump on Monday, following the release of the Bank of Canada’s business outlook survey. However, the small gains were short-lived as economic realities and monetary policy divergence send the loonie lower against most majors today. Loonie has be struggling quite a bit recently, and today is no exception. Yesterday, after a business outlook survey from the Bank of Canada that showed cautious optimism, the Canadian dollar […]
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January 142014
EUR/USD Fluctuates After Shocking Employment Report
EUR/USD was fluctuating at the beginning of the trading week, falling a little yesterday and rising a little today, as the Forex market still digests the last week’s abysmal US employment report. Dennis Lockhart, the President the Federal Reserve Bank of Atlanta, said yesterday that the poor data would not prevent the US central bank from reducing asset purchases. Such comments sent the currency pair down, but the impact was not very […]
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