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Day: January 29, 2014
January 292014
Greenback Strengthens on Fed Expectations
The US dollar is strengthening today, thanks in large part to expectations that the Federal Reserve will continue to taper its asset purchase program. With the US economy mostly on the upswing, and unemployment at a more reasonable level, many think that the Fed will continue to cut its quantitative easing efforts. Today is the second day of a two-day meeting of the Federal Open Market Committee. It’s the last meeting being held under […]
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January 292014
Euro Down Today, But Could That Change Tomorrow?
The euro is down today, due largely to the fact that there are still a few economic uncertainties, and due to the fact that risk appetite remains elusive on a global scale. Once again, markets are falling and there are concerns about a global slowdown. But, while the euro is down today, many are looking forward to eurozone data that could help the 18-nation currency. Euro is down against […]
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January 292014
Ruble Does Not Join Other Risky Currencies in Gains
The Russian ruble did not join other currencies of emerging markets in a rally, falling instead today. It looks like Forex market participants were to afraid to buy the currency ahead of today’s monetary policy decision of the US Federal Reserve. Recently, traders were favoring currencies with high risk, but with potential for higher return, especially after the Turkish central bank has unexpectedly tightened its monetary policy. […]
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January 292014
UK Housing Market Looks Good, Beneficial for Sterling
The Great Britain pound ticked up today as a report confirmed that Britain’s housing sector continues to expand, albeit with slower pace. The sterling was heading for a third straight session of gains against the Japanese yen, but has retreated at the present time. The Nationwide House Price Index rose 0.7 percent in January, matching analysts’ expectations. The increase followed the 1.4 percent growth in the previous month. The data supported the general positive […]
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January 292014
More Tapering from Fed, EUR/USD Little Bothered
For some reason, EUR/USD dipped during the trading session, but very quickly recovered and traded sideways afterwards. Even the announcement of yet another stimulus tapering did not bother the currency pair much. It is worth remembering that the announcement was made during the US trading session and everything may change during the Asian and European sessions as traders around the world will digest the news. For now though, the currency pair […]
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January 292014
Aussie Rises with Help of Domestic Fundamentals
The Australian dollar rose today as macroeconomic reports from the South Pacific country were relatively good and the general traders’ sentiment was in favor of growth-related currencies. Today’s monetary policy meeting of the US Federal Reserve remains the major risk for the Aussie. The Conference Board Leading Economic Index for Australia increased 0.2 percent in November. The National Australia Bank Business Confidence index remained at 6 and the report said: Confidence has remained surprisingly […]
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January 292014
Yen Slides for Third Session as Turkey’s Central Bank Surprises
The Japanese yen fell today for a third straight session as monetary tightening in emerging economies made riskier currencies attractive yet again. Yesterday’s surprise move of Turkey’s central bank added to the confidence of Forex traders. Erdem Basci, Governor of the Central Bank of the Republic of Turkey, was talking about an was talking hike, so it was expected that the central bank would take an action. What was unexpected is the fact […]
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