Breaking News

Day: February 20, 2014

February 20
2014

Eurozone PMI and Risk Aversion Send Euro Lower

Euro is mostly lower today, losing ground as the latest PMI data weighs on the 18-nation currency, and as risk aversion sets in. Concerns about China’s recently released — and disappointing — data are weighing on sentiment, and it’s not helping that gold is pulling back as well. Add to the worries about the eurozone in general, and it’s no surprise the euro is struggling. Once again, disappointing data is front and center. Economic […]

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February 20
2014

Yen Rallies on Risk Aversion, Struggles to Keep Gains

The Japanese yen was rising today as Forex market participants felt need for safety. Yet the currency was not able to rally for long and currently is struggling to keep gains, trading close to the opening level against some of its most-traded counterparts. Political turmoil in such countries as Thailand, Ukraine and Venezuela made the trading environment not particularly suitable for risky investments, increasing demand for safer assets. The worse-than-expected manufacturing data from […]

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February 20
2014

Canadian Dollar Pulls Back on Commodities, China

Canadian dollar was higher in earlier trading, but has now pulled back. Thanks to concerns about lower commodities and the fact that disappointing data out of China is weighing on sentiment and high beta currencies, the loonie is now losing ground in some cases, particularly against the greenback. Trading for the Canadian dollar is a bit choppy right now. Earlier, the loonie saw gains against most of its major counterparts, […]

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February 20
2014

NZ Dollar Shows Resilience in Face of Detrimental Fundamentals

Both domestic and overseas fundamentals were negative for the New Zealand dollar, and the currency dropped against the Japanese yen at the first half of today’s trading session. Yet despite the detrimental factors the kiwi managed to rebound against the yen, erasing losses, and to rise a bit versus the US dollar. The HSBC Flash China Manufacturing Purchasing Managers’ Index fell from 49.5 in January to 48.3 in February, reaching the seven-month low. Analysts have thought that […]

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February 20
2014

EUR/USD Maintains Downward Bias

The dollar continued to gain on the euro today even though US economic data was mostly disappointing yet again. The US currency is supported by yesterday’s FOMC minutes as well as today’s negative data from China. Political turmoil in some countries (like Thailand and Ukraine) also supports demand for the greenback as a safe asset. Initial jobless claims slipped from 339k to 336k, about the same figure analysts have expected. (Event […]

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February 20
2014

US Dollar Unable to Keep Gains Despite Taper Speculations

The US dollar jumped against the euro after the Federal Reserve released its monetary policy minutes yesterday, but was flat versus the Great Britain pound and the Japanese yen. Today, the greenback continued to trade sideways against the sterling, but fell a little versus the euro and slumped against the yen. The Fed minutes revealed that US policy makers are going to proceed with quantitative easing tapering: In their discussion of monetary […]

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February 20
2014

Chilean Central Bank Plans More Interest Rate Cuts, Peso Weak

The Chilean peso ended yesterday’s trading session weak against the US dollar as the nation’s central bank cut interest rates and signaled about possibility of additional monetary stimulus. The currency rose a little versus the euro at the start of the current trading session. The Central Bank of Chile cut its main interest rate by 25 basis points to 4.25 percent on February 18. The central bank spoke about robust economic recovery in developed nations, […]

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