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Day: March 26, 2014
March 262014
Rally of Brazilian Real Pauses
The Brazilian real retreated a bit at the current trading session after touching the highest level in fourth months on the previous trading session. The rally has started after Standard & Poor’s cut the nation’s credit rating but changed the outlook from negative to stable, and prices continued to rise till the beginning of this session. On March 24, S&P lowered Brazil’s sovereign rating from BBB to BBB-, the lowest investment grade. The rating agency […]
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March 262014
US Dollar Trades Mixed Against Other Currencies
Even though the dollar index is higher today, the greenback is trading mixed against its major counterparts. Interest in risk has some money flowing out of the dollar, while there are some currencies that are floundering in general. US dollar is gaining against the euro today, which is one of the big reasons that the dollar index is gaining ground today, even though the greenback is […]
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March 262014
NZ Dollar Jumps Despite Finance Minister Comments
The New Zealand dollar rose today even though nation’s Finance Minister Bill English voiced concern about the currency’s strength. The kiwi was trading near the highest level since 2007 against the Japanese yen. The Minister was speaking at the 17th Annual Credit Suisse Asian Investment Conference in Hong Kong today and his comments about the exchange rate were not particularly positive for the currency: Itâs a bit too high. […]
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March 262014
Euro Falls on Talk of Negative Interest Rates
Once again, ECB officials are talking about the possibility of negative interest rates to help boost the eurozone economy. As a result, the euro is heading lower against its major counterparts, even hitting a multi-week low against the US dollar. Over the past couple of weeks, the euro has seen some strength as Forex traders consider that the ECB might not ease monetary policy further after all. With economic […]
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March 262014
Australian Dollar Surges on Stevens’ Comments
The Australian dollar surged today after comments of central bank chief Glenn Stevens bolstered optimism for Australia’s economy. The Aussie reached the highest level this year against major currencies, including the US dollar, the euro and the Japanese yen. Stevens was speaking today at the 17th Annual Credit Suisse Asian Investment Conference in Hong Kong. He said: So there is encouraging early evidence that the so-called âhandoverâ from […]
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March 262014
EUR/USD Extends Drop for Second Day
EUR/USD was falling yesterday (though trimmed its losses by the end of the trading day) on speculations about additional monetary stimulus in Europe and signs that the European economy is struggling. European Central Bank President Mario Draghi said today that the current economic conditions do not warrant implementing more accommodative policy but policy makers are ready to stimulate the economy in case that would become necessary. The current […]
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