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Day: February 19, 2014
February 192014
Pound Struggles to Rise After BoE Minutes & Employment Data
The Great Britain pound was flat versus the US dollar and fell against the Japanese yen after the release of the central bank’s policy meeting minutes and the employment data. The sterling is struggling to rise higher as of now. The employment data was fairly good. At the same time, the minutes of the February monetary policy meeting showed that policy makers voted unanimously to keep the accommodative policy in place. It looks like the Bank of England is […]
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February 192014
Euro Loses Ground After OECD Report
Euro is losing ground today in currency trading, thanks in large part to a report from the Organization for Economic Cooperation and Development. This report indicates that the eurozone’s economic growth is lagging behind the United States and United Kingdom. The worry of deflation is also weighing on the euro. Even though the latest construction figures look a little more promising, and even though there has been some growth in the eurozone, the 18-nation currency […]
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February 192014
Australian Economic Indicators Confusing, AUD Trades Flat
The Australian dollar traded mostly flat today as economic indicators were confusing, creating no clear picture of Australia’s economic health. The currency started the trading session with a sharp drop, but managed to rebound against the US dollar and the euro later. The Conference Board Leading Index rose 0.8 percent in December after increasing 0.2 percent in the previous month. Yet the Westpac-Melbourne Institute Leading Index of Economic Activity dropped from […]
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February 192014
FOMC Minutes Stop Rally of EUR/USD
The rally of EUR/USD halted today after the minutes of the Federal Reserve latest monetary policy meeting. It looks like the Fed is going to keep reducing its monthly asset purchases and this is positive for the dollar. It allowed the US currency to shrug off the poor housing data, which was even worse than pessimistic forecasts. Both housing starts and building permits dropped last month. Housing starts were […]
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February 192014
USD Ahead of Fed Minutes: Strong vs. GBP & JPY, Soft vs. EUR
The US dollar continued to show strength versus the Great Britain pound and the Japanese yen, but was very weak against the euro as yet another bunch of worse-than-expected data from the United States hurt the appeal of the currency for investors who seek safety. The Empire State Manufacturing Index demonstrated a drop from 12.5 to 4.5 in February, below the analysts’ estimate of 9.9. Net long-term securities transactions by Treasury International Capital unexpectedly fell […]
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