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Day: February 14, 2014
February 142014
Aussie Resumes Rally with Help from China’s Consumer Inflation
The Australian dollar resumed its rally, following yesterday’s drop, as accelerating inflation in China improved prospects for exports from the South Pacific nation and lifted the traders’ sentiment. The Chinese Consumer Price Index rose by 2.5 percent year-on-year in January. The increase was a bit higher than analysts’ expectations. The gauge went up by 1.0 percent on a monthly basis. Meanwhile, the Producer Price Index decreased 1.6 percent year-on-year and 0.1 percent month-on-month. […]
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February 142014
Construction Growth Brings GBP/USD to Record High Since 2011
The Great Britain pound advanced today after the gauge of the construction industry increased, adding to evidences of steady economic growth in the United Kingdom and increasing chances for an interest rate hike next year. The currency reached the highest rate since 2011 against the US dollar. Seasonally adjusted construction output rose by 0.2 percent in the fourth quarter of 2013. It was down 0.3 percent according to the estimate published last month. The positive data […]
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February 142014
US Dollar Index Drops on Better News Across the Atlantic
The US dollar index is heading lower today, dropping as better news arrives from Europe. As the situations in the United Kingdom and in the eurozone improve, and as US data misses expectations, the greenback is struggling. The latest economic news out of the United States has been disappointing. Unemployment claims and retails sales data have been weighing on the greenback. On top of that, many Forex traders are contrasting this disappointing data with the better […]
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February 142014
Euro Reaches Three-Week High Against US Dollar
The euro touched a three-week high against the US dollar earlier in trading, thanks in large part to the latest GDP numbers out of Germany and France. Eurozone GDP for the fourth quarter of 2013 benefited from this development, and the euro received a boost. According to the latest news out of the eurozone, GDP for the fourth quarter of 2013 rose 0.3 per cent. This beat the forecast of an increase of 0.2 per cent and is providing some support for the euro […]
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February 142014
Falling Inflation Helps Rupee Maintain Rally
The Indian rupee maintained its strength on speculations that falling inflation should attract overseas investors to nation’s assets. There are concerns, though, that buying of dollars by domestic importers may limit gains. Wholesale inflation fell to 5.05 percent in January on an annual basis from 6.16 percent in December. Consumer inflation was at the two-year low of 8.79 percent. The rupee, which was rising previously on shrinking trade deficit, profited […]
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February 142014
Taiwan Dollar Attempts to Stabilize
The Taiwan dollar rose today on speculation that the currency is going to stabilize after the big drop. Taiwan’s dollar was the weakest among Asian currencies after the Malaysian ringgit. The Taiwan currency has fallen 2.4 percent in the past three months. It was up 0.3 percent this week against the US dollar. The currency remains in danger as investors tend to pull their funds from emerging markets at the present time. […]
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February 142014
Dollar Extends Losses as Industrial Production Contracts
US fundamentals continue to disappoint and, as a result, the dollar extended its drop versus the euro. US industrial production and capacity utilization contracted last month, and it was an unpleasant surprise for experts, who predicted an expansion. Not all indicators were bad though, and the consumer sentiment, as well as import prices, surprised positively. Both import and export prices rose in January. Import prices were up 0.1% instead of falling by the same rate […]
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