Day: January 31, 2014

January 31
2014

CAD Gains vs. USD & EUR, Ends Month Weak

The Canadian dollar rose today, rallying for the second session against the US dollar and the euro, as the nation’s economy continued to grow in November. At the same time, the currency retreated versus the Japanese yen following yesterday’s advance. Canadian gross domestic product expanded 0.2 percent in November after growing 0.3 percent in October. Analysts’ forecasts promised exactly such reading. It was the fifth consecutive month of growth. The loonie experienced the worst January […]

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January 31
2014

US Dollar Continues to Strengthen

The US dollar continues to strengthen today, in the fact of global uncertainty, and as the Federal Reserve continues tapering efforts. There is a lot helping the greenback right now, and it is little surprise that the dollar index is gaining ground today. Once again, data from around the world shows that the US economy is doing comparatively well. Chinese data has been disappointing, and, once again, the eurozone proves […]

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January 31
2014

Euro Struggles as Economy Remains Static

Euro is struggling today as the latest economic data indicates that the situation is still mostly static in the eurozone. The 18-nation currency region continues to fight with unemployment, and the inflation level remains too low for comfort. The latest economic reports from Eurostat indicate that the eurozone economy remains mired in the doldrums. Unemployment remains at 12 per cent — where it’s been since October of 2013. On top of that, the latest inflation […]

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January 31
2014

Sterling Drops, Ignores Improvement of Consumer Confidence

The Great Britain pound dropped today as the mood of Forex traders turned sour and they preferred to stick to safer currencies. Even improving confidence of Britons was not able to help the sterling. The GfK UK Consumer Confidence Index increased six points to -7 in January. It is the highest level since September 2007. The favorable data did not benefit the pound as traders were avoiding currencies that they perceived to be […]

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January 31
2014

Increasing Trade Surplus Does Not Help NZ Dollar

The New Zealand dollar dropped today even as the nation’s trade surplus widened last month. The increase was smaller than analysts have anticipated and the general market sentiment was less positive than it had been previously. New Zealand trade balance posted a surplus of NZ$523 million in December. It was far bigger than November’s NZ$183 million, but below traders’ expectations of NZ$550 million. Additionally, the investors’ […]

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January 31
2014

EUR/USD Extends Losses as Eurozone Inflation Unexpectedly Slows

EUR/USD extended its drop today as US consumer spending continued to rise. Additionally, eurozone inflation unexpectedly slowed this month (event A on the chart), adding to the downside pressure for the currency pair. Personal income was almost unchanged in December, while it rose 0.2% in November and analysts have expected an increase by the same rate last month. Meanwhile, personal spending grew 0.4%, matching specialists’ expectations, after rising 0.6% in the previous […]

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January 31
2014

Yen Gains as Data Suggests No More Stimulus Needed

The Japanese yen advanced as a set of good macroeconomic report was released from Japan today, suggesting that policy makers do not need to implement additional monetary stimulus and may even consider an exit from the current excessively accommodative policy. The headline seasonally adjusted Markit/JMMA Japan Manufacturing Purchasing Managers’ Index advanced from 55.2 in December to 56.6 in January. The report said: This was the highest reading posted by the PMI […]

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