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Day: January 16, 2014
January 162014
Russian Ruble Drops on Fears of Stagflation
The Russian ruble dropped today on concerns about so-called stagflation that threatens the nation’s economy and makes it less attractive for overseas investors. Usually, high inflation is accompanied by strong economic growth, while slow growth means weak inflation. Yet in case of stagflation high inflation is combined with slow economic expansion and high unemployment. Such state is very hard for policy makers to deal with as conventional […]
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January 162014
Aussie Sinks as Employment Data Surprises Unpleasantly
The Australian dollar sank today after the terrible employment report reignited speculations about possible interest rate cut by the Australian central bank. Australian employment shrank by 22,600 (seasonally adjusted) in December from a month ago. It was nowhere near the expected increase of 10,300. The unemployment rate stayed at 5.8 percent. Ahead of the report, there was a general consensus that the Reserve Bank of Australia will pause with interest rate […]
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January 162014
UK Pound Lower After Housing Data
UK home prices declined in December, once again calling into question the situation surrounding the economic recovery. Pound is lower today as a result of this disappointing news. It appears that the situation in the United Kingdom is eroding a bit. The Royal Institution of Chartered Surveyors released its measure of UK home prices, and it appears that the index dropped to 56 in December from 58 in November. The news indicates that the housing […]
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January 162014
Canadian Dollar Inches Higher Against Its Major Counterparts
Canadian dollar is inching higher against its major counterparts, gaining ground as Forex traders consider their positions, and as the situation changes for the currency. Loonie is finding a little support ahead of next week’s BoC meeting, but general weakness is likely to remain. Loonie is a little higher today, gaining ground as disappointing earnings reports weigh on the US dollar. Drops in the euro and the UK pound relative to the loonie are […]
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January 162014
EUR/USD Drops as Data Suggests Further Tapering
EUR/USD continued to fall today as positive macroeconomic data supported the view that the Federal Reserve will taper its quantitative easing program more in the future. US policy makers continue to show confidence in their ability to reduce stimulus without damaging the economy and such outlook is positive for the dollar. Initial jobless claims were at 326k last week, little changed from the previous week’s 328k and in line with forecasts. (Event […]
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