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Day: March 14, 2014
March 142014
EUR Gains vs. USD & GBP, Unable to Beat JPY
The euro ended today’s trading session with gains against the US dollar as European macroeconomic data was good in contrast to US reports that were disappointing. The currency also gained on the Great Britain pound but was unable to outperform the Japanese yen. The German Consumer Price index rose 0.5 percent in February according to the final estimate, unchanged from the preliminary projection. Employment in both eurozone and the European Union rose 0.1 […]
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March 142014
US Data Makes Dollar Weaker
The US dollar slid as today’s macroeconomic reports from the United States were disappointing, leading to doubts if the Federal Reserve continues quantitative easing tapering or pauses stimulus trimming until economic growth becomes more stable. The University of Michigan consumer confidence index unexpectedly dropped from 81.6 to 79.9 this month. Analysts have hoped for a small increase. The Producer Price Index fell 0.1 percent in February instead of rising […]
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March 142014
Account Deficit, Market Worries Weigh on UK Pound
UK pound is lower today, thanks in large part to its account deficit and to market worries surrounding the events unfolding in Crimea. With stocks plunging and concerns about what’s next causing uncertainty, combined with issues in the United Kingdom, the pound isn’t on very stable ground. Sterling is lower today, dropping against most of its major counterparts. Risk appetite is hard to find today as stock markets around […]
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March 142014
Goldman Sachs Forecasts Decline of Aussie
The Australian dollar trimmed yesterday’s gains versus the US dollar and reversed the rally versus the Japanese yen today as the negative market sentiment hurt growth-related currencies, while the Goldman Sachs forecast added to the woes of the Aussie. The market sentiment was poor amid concerns about Chinese growth slowdown and concerns about the situation in Ukraine, making traders favor safe currencies, not riskier ones. Goldman Sachs said: Our bearish Australian […]
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March 142014
Canadian Dollar Faces Difficulties Ahead of Crimea Referendum
Markets in general are struggling today, thanks largely to concerns over the referendum vote in Crimea on Sunday. Additionally, it’s not helping that there are worries about Chinese growth and other issues weighing on risk appetite today. Plus, there are questions about an independent Quebec to consider. Even though oil prices are higher on the day, the Canadian dollar is struggling against some of its major counterparts, particularly […]
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March 142014
Peso Gains Even as Chilean Central Bank Lowers Main Rate
The Chilean peso managed to log gains today even after the nation’s central bank cut its monetary policy interest rate yesterday for the fourth time in six months. The Central Bank of Chile lowered its key interest rate by 25 basis points to 4 percent. The bank said about the state of the global economy: Internationally, incoming information confirms the outlook of gradual recovery of the developed economies, while projections for emerging markets, particularly […]
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March 142014
EUR/USD Pares Losses as US Consumer Confidence Falls
EUR/USD erased yesterday’s losses today as economic reports from Europe were relatively good, while US data was disappointing, particularly the unexpected drop of consumer confidence. Still, the currency pair remains under pressure as the upcoming referendum in Crimea about secession from Ukraine and joining Russia makes traders nervous, encouraging them to prefer safe currencies over riskier ones. Signs of slower economic growth in China do not […]
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March 142014
Euro Extends Drop on Draghi’s Comments
European Central Bank President Mario Draghi suggested yesterday that the euro is too strong, and the exchange rate should fall in the future. Such comments led to the decline of the shared 18-nation currency yesterday, and the drop was extended today. Draghi explained that the exchange rate is becoming “increasingly relevant in our assessment of price stability” as it threatens inflation. He also said that the forward guidance “creates a de facto […]
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March 142014
Yen Gains as Crimean Referendum Looms
The Japanese yen continued to rise today, gaining for the fourth consecutive trading session against the US dollar and for the fifth versus the Great Britain pound, as concerns about the situation in Ukraine made investors stick to safer assets. The Crimea region will hold a referendum over the weekend, deciding whether to separate from Ukraine and join Russia. Meanwhile, the United States say that the referendum would be illegal and Russia should back off from […]
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