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Day: March 11, 2014
March 112014
US Economic Optimism Helps Dollar
There’s a bit of economic optimism in the United States right now, and that is helping the US dollar against its high beta counterparts in Europe. Greenback is heading higher as the latest remarks from an ECB official hammer home the fact that the eurozone isn’t out of the woods yet. Right now, the US dollar is getting help as analysts look at the somewhat encouraging jobs report from last Friday, and decide that […]
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March 112014
Euro Pulls Back After Remarks From ECB’s Constancio
The euro is pulling back today, dropping after remarks from Vitor Constancio, the Vice President of the European Central Bank. Constancio’s remarks are renewing concerns about the eurozone economy, and reviving speculation that the ECB could take steps to ease monetary policy. After seeing some gains in recent sessions, the euro is pulling back a bit today. Concerns are on the rise as ECB Vice President Vitor Constancio remarked […]
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March 112014
Sterling Extends Decline, Fundamental Data Does Not Help
The Great Britain pound retreated today, falling for the second consecutive session against the Japanese yen and for the third versus the US dollar, as economic indicators were not particularly supportive for the currency. UK retail sales were down 1.0 percent on a like-for-like basis in February from a year ago, according to British Retail Consortium. The reading was not too bad, considering that the comparison was made to the very strong period of sales. Industrial […]
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March 112014
Aussie Ticks Up as Business Confidence Remains Elevated
The Australian dollar gained today as nation’s business confidence remained at the elevated level in February even though it retreated a bit compared to the previous month. The business confidence index of National Australia Bank ticked down from 9 in January to 7 in February. The report said: Business confidence eased slightly in the month, but remains marginally above trend levels, suggesting firms remain hopeful of a recovery despite mixed signals on business activity. […]
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March 112014
Yen Retains Weakness Even as BoJ Avoids Adding Stimulus
The Japanese yen remained weak today even as the Bank of Japan refrained from expanding already substantial monetary accommodation. At the same time, policy makers signaled that they are going to keep existing monetary stimulus for the time being. The BoJ kept the size of asset purchases at ¥60–70 trillion on today’s meeting. The central bank was unexpectedly positive regarding the current state of Japan’s economy, saying: Japan’s economy continued to recover moderately, […]
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