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Day: February 11, 2014
February 112014
US Dollar Struggles as Yellen Stresses Low-Rate Policy
Greenback is struggling today as it looks as though the Federal Reserve’s low-rate policy will remain in effect for some time. Janet Yellen’s testimony before Congress has many looking toward the future, and trying to figure out how the Fed’s tapering efforts will proceed. Janet Yellen is the new Chair of the Federal Reserve, and she is making her first remarks to Congress in that capacity today. She has stressed […]
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February 112014
Euro Gets a Little Boost From Continued Improvement
It might be a slow improvement, but the eurozone economy is showing signs of recovery. The eurozone GDP did rise a little bit in the third quarter of 2013, and Mario Draghi and the rest of the ECB are confident enough that they haven’t taken further moves to boost the economy. As a result, the euro is gaining ground today, especially against low beta currencies. Euro is higher against the dollar and the yen today as risk […]
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February 112014
Thai Baht Maintains Gains, Can It Keep Rallying?
The Thai baht rose today together with other risky currencies, but remains in a vulnerable position due to the unresolved political crisis in the country that erodes the appeal of the currency and endangers the nation’s economy. The baht demonstrated strength last week and continue to rally this week. The political problems, which caused the earlier slump, did not go away though and Thailand’s economical, and political environment is in disarray as the country is waiting for the official […]
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February 112014
Narrower Trade Gap Helps Indian Rupee Log Gains
The Indian rupee gained today as India’s trade balance deficit narrowed last month, damping the exchange rate volatility and making the nation’s economy more attractive for investors. India’s exports rose 3.8 percent and imports fell 18 percent in January. As a result, the trade gap shrank from $10.1 billion in December to $9.92 billion last month. Tomorrow’s reports about inflation and industrial production are also expected to be positive. USD/INR […]
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February 112014
GBP/USD Shows Some Bullish Momentum, Waits for More Input
The Great Britain pound advanced against the US dollar and was almost flat versus the euro and the Japanese yen today. Positive retail sales data helped the currency to overcome the bearishness somewhat, though the current moves are not trend changing. The British Retail Consortium Retail Sales Monitor demonstrated growth by 3.9 percent in January from a year ago. The report was mildly positive, but warned against being too optimistic […]
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February 112014
Positive Economic Indicators Support Bullish Momentum of Aussie
The Australian dollar rose today as positive macroeconomic data added to the bullish momentum that the currency was demonstrating this month. The Aussie advanced against the majority of its most-traded peers and reached the highest level in four weeks versus the US dollar. The Business Confidence Index of National Australia Bank rose from 6 in December to 8 in January. The report commented that there are “more encouraging results”. The House Price Index rose […]
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