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Day: March 10, 2014
March 102014
Yen Ahead of BoJ, More Weakness Expected
The Japanese yen was extremely weak last week. The market sentiment was favorable to the currency initially, but it sharply turned negative for the yen after the European Central Bank refrained from additional stimulus and was relatively optimistic about the future of the European economy. The better-than expected US non-farm payrolls did not help the Japanese currency either. But what about this week? Domestically, things do not look […]
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March 102014
NZD Overcomes Negative Fundamentals, Waits for RBNZ Meeting
The New Zealand dollar fell initially today, together with other high-beta currencies, because of poor trade data released from China over the weekend. Most currencies recovered later and the kiwi was among them as speculations about an interest rate hike allowed it to overcome the negative impact of the news from China. Rebuilding after the earthquake in Christchurch spurred construction boom that translated in rising prices. Inflation pressure has […]
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March 102014
Japan’s Growth Revised Lower, Yen Suffers
The Japanese yen declined, even though China’s trade data hurt the traders’ sentiment, as Japan’s economic growth was revised down in today’s report, spurring talks that the economy will not be able to sustain its expansion without additional measures, like monetary stimulus and weakening the currency. Japan’s gross domestic product grew 0.2 percent in the fourth quarter of 2013 from the previous three months, compared to the previous estimate. […]
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March 102014
Aussie Opens Lower on China’s Trade Data
The Australian dollar opened sharply lower today compared to the Friday’s close as China’s trade data, which was released over the weekend, showed an unexpected trade deficit, reinvigorating fears about slowdown of China’s economic growth. As of now, the currency trades flat against the US dollar and bounced versus the Japanese yen. China’s trade balance demonstrated a deficit of $23.0 billion in February, while analysts anticipated a surplus of $13.2 billion. It was […]
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