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Day: January 22, 2014
January 222014
Yen Drops as BoJ Maintains Stimulus, Losses Limited
The Japanese yen was weaker today after the Bank of Japan maintained its monetary stimulus at today’s policy meeting. The drop was not particularly big against the US dollar and the yen was trading near the opening level versus the euro and the central bank did not expand stimulus. The BoJ announced today: The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace […]
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January 222014
Bank of Canada Sends CAD to New Multi-Year Lows
The Canadian dollar sank today, dropping to new multi-year lows versus the US dollar and the euro, after the central bank maintained its key overnight rate unchanged and signaled that an interest rate cut is possible. The Bank of Canada kept its main interest rate at 1 percent at today’s meeting. As was expected, the tone of the accompanying statement was dovish. The bank said: Inflation in Canada has moved further below the 2 […]
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January 222014
Euro Continues to Struggle, Even After Debt News
Even though the eurozone debt dropped for the first time in almost six years, and even though a recent poll shows that 57 per cent of investors feel that the worst is over for the eurozone, there are still concerns and the euro is struggling today. In the third quarter of 2013, the level of eurozone government debt fell for the first time in nearly six years. This news, though greeted with some optimism, still […]
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January 222014
UK Pound Gains Ground After Unemployment Report
UK pound is moving higher today, surging ahead of its major counterparts on the latest unemployment report. As the unemployment rate fell to its lowest level in five years, there are expectations that the Bank of England will consider cutting back on its asset purchase program. Sterling is surging ahead of its major currency counterparts today, gaining ground as the UK unemployment rate falls to 7.1 per cent. Economists […]
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January 222014
Positive Inflation & Consumer Sentiment Reports Lift Australian Currency
The Australian dollar rose today after the inflation report surprised Forex market participants positively as consumer prices were rising last quarter faster than was predicted by analysts. The consumer sentiment report, while was not particularly good, was not very bad either. The Consumer Price Index rose 0.8 percent in the fourth quarter of 2013. This is compared with the median analysts’ estimate of 0.5 percent and the previous […]
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January 222014
Canadian Dollar Weaker Ahead of BoC Meeting
The Canadian dollar dropped yesterday, falling below 1.10 against the US dollar for the first time in more than four years, and retained its weakness today. Traders were largely pessimistic about the currency ahead of the central bank’s meeting and fundamentals did not help to alleviate this sentiment. The Bank of Canada is going to meet today to make a decision about monetary policy. No changes to policy are expected, but market […]
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