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Day: March 20, 2014
March 202014
Mexican Peso Overcomes Negative Influence of Fed Announcement
The Mexican peso advanced today even as the prospects for an interest rate hike from the Federal Reserve next year were hurting most currencies of emerging markets as well as other risky assets. The Fed announced another stimulus cut yesterday and signaled that borrowing costs may reach 1 percent next year. The news hurt most high-beta currencies as it means less cheap money for the world financial system. Yet the peso […]
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March 202014
Interest Rate Outlook Boosts Brazilian Real
The Brazilian real gained today on speculations that the central bank will keep raising interest rates, attracting investors from countries with near-zero interest rates to South American nation’s assets. Central Bank of Brazil President Alexandre Tombini reiterated this week that he is going to ensure that inflation will slow to the 4.5 percent target. One of the measures to rein inflation is interest rate hikes. It […]
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March 202014
Sterling Mixed as Fed Impact Battles Positive UK Data
The Great Britain pound fell against the US dollar today as the greenback retained strength after yesterday’s monetary policy decision of the Federal Reserve. The sterling struggled versus the yen but managed to gain on the euro as economic data confirmed recovery in the United Kingdom yet again. Confederation of British Industry released its Industrial Order Expectations index today that showed an increase from 3 in February to 6 in March. It was a somewhat […]
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March 202014
SNB Brings No Good News for Franc
The Swiss franc dropped against the US dollar and the Japanese yen today after Switzerland’s central bank maintained its extremely accommodative policy and the cap on the currency. The Swissie was virtually flat against the euro. The Swiss National Bank maintained interest rates near zero and the ceiling on the franc at 1.20 per euro. The central bank reiterated the pledge to limit franc’s gains versus the euro as long as it is necessary. The SNB mentioned that […]
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March 202014
Euro Weaker on Expectations
Euro is weaker today, continuing its difficulties as concerns about the eurozone, and as expectations for a stronger US dollar, weigh on the 18-nation currency. The latest Fed expectations, along with changes to the ECB’s forward guidance, are keeping the euro down today. After yesterday’s Federal Reserve announcement, which some Forex traders took to mean that US rates would begin rising as early as April 2015, the euro fell to fresh two-week […]
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March 202014
Loonie Continues to Struggle After Fed Announcement
The loonie is still struggling against the greenback today, finding it difficult to regain lost ground following yesterday’s announcement from the US Federal Reserve. While the Canadian dollar is gaining against its European counterparts, helped by US dollar strength, it continues to drop against the greenback. Yesterday, Federal Reserve Chair Janet Yellen made an announcement about the taper and about interest rates. She introduced a definite timetable […]
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March 202014
EUR/USD Post-FOMC: Retains Downward Bias
EUR/USD continued to move down today after yesterday’s drop caused by the monetary policy meeting of the Federal Open Market Committee. The FOMC statement made a strong impression on Forex traders, spurring them to buy dollars. Today’s data economic data from the United States was good for the most part, giving additional boost to the US currency. Initial jobless claims rose from 315k to 320k last week, but remained below […]
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March 202014
NZD Drops on Fed, New Zealand’s GDP Adds to Woes
The New Zealand dollar sank versus its US counterpart yesterday and continued to fall today after the Federal Reserve reduced its stimulus program and signaled about possible interest rate hike next year. The kiwi was also soft against other most-traded currencies after the official report showed that New Zealand economic growth slowed last quarter more than was expected. New Zealand gross domestic […]
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March 202014
Fed Trims QE, Dollar Moves Upside
The US dollar surged yesterday and retained its gains today after the Federal Reserve trimmed the quantitative easing program at the planned pace and signaled that an interest rate hike may happen as soon as the next year. As was widely expected, the Fed continued to reduce its monthly purchases at the same pace of $10 billion as at the previous meeting. The central bank’s statement was more hawkish than most analysts had expected and announced: The Committee […]
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