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Day: February 13, 2014
February 132014
Mexico’s Credit Rating Makes Peso Attractive
The Mexican peso maintained its bullish momentum today after Moody’s Investor Service upgraded the nation’s credit rating last week, increasing the attractiveness of Mexico’s assets to investors. Moody’s boosted Mexico’s sovereign rating from Baa1 to A3 with stable outlook on February 5. The rating agency commented on the decision: The decision to upgrade Mexico’s sovereign ratings was driven by the structural reforms approved last year, which Moody’s expects will […]
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February 132014
Pound Jumps as Dale Talks About Interest Rate Hike in 2015
The Great Britain pound jumped today as Bank of England Chief Economist Spencer Dale talked about the possibility of an interest rate hike next year, saying that it is a likely event. Dale mentioned the forecast of interest rates “remaining on hold until about the Spring of next year and then rising to around 2 percent by the end of 2016” and said: Based on what we know now, that profile for interest rates looks […]
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February 132014
Indonesian Rupiah Jumps as Current-Account Shortfall Narrows
Narrowing Indonesia’s current-account deficit and stable monetary policy of the central bank allowed the rupiah to gain today, demonstrating the biggest jump in a month and exceeding the 12,000 per dollar level for the first time this year. The Bank Indonesia maintained its main interest rate at 7.5 percent and kept other rates unchanged too at today’s meeting. The central bank explained: The policy is consistent with the tight monetary policy stance currently adopted […]
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February 132014
Disappointing News Sends US Dollar Lower
Greenback is lower today, thanks to the latest economic news. Disappointments in the jobless claims report and in the latest retails sales data are weighing on the US dollar. There are also worries that the world’s most popular currency might be losing some of its appeal. US dollar is struggling today, thanks in large part to the disappointing economic data just released. According to the US Commerce Department, retail sales fell […]
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February 132014
Aussie’s Rally Stalls on Abysmal Employment Data
The Australian dollar sank today as employment data was much worse than optimistic analysts’ expectations, leading to speculations that the currency has exhausted its rally and is going to reverse the uptrend. Australian employment decreased by 3,700 jobs in January instead of rising by 15,300 as was predicted. It was the second consecutive month of employment contraction as the Australian labor market shed 23,000 jobs in December. The unemployment rate rose to 6.0 percent. […]
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February 132014
US Economic Indicators Surprise Negatively, EUR/USD Jumps
Today’s economic reports from the United States followed the same pattern: economists were expecting no change from the previous readings, but the actual data made a negative surprise. As one could expect, this forced the dollar to fall against the euro, making EUR/USD reverse yesterday’s drop. Retail sales declined 0.4% in January. It was an unpleasant surprise to those traders who have expected no change (0.0% value). […]
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