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Day: March 27, 2014
March 272014
UK Retail Sales Lead to Fourth Day of Gains for GBP/USD
The Great Britain pound advanced today, rising for the fourth straight session versus the US dollar, as growth of retail sales exceeded forecasts by more than three times, supporting the view that the nation’s economy is strong enough to continue expansion with tighter monetary policy. Britain’s retail sales grew as much as 1.7 percent in February from the previous month, topping the analysts’ estimate of 0.5 percent. Tomorrow’s reports are expected […]
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March 272014
Euro Dips on QE Talks
The euro dipped today as policy makers continued to talk about possible quantitative easing program that should boost the struggling economy of the European Union. This stance contrasts to the tightening bias of central bankers in the United States and Great Britain. Luis Maria Linde, European Central Bank member, said that policy makers are concerned about the threat of deflation and QE is not impossible. Earlier, Jens Weidmann, Bundesbank President, […]
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March 272014
Norway’s Interest Rates Remain Stable, Krone Gains
The Norway krone climbed today after the nation’s central bank kept interest rates unchanged and signaled that borrowing costs may start rising next year. The Norges Bank kept its key interest rate at 1.5 percent. The bank said in the accompanying statement: The projections for the Norwegian economy show that growth will pick up somewhat further ahead. As of the future monetary policy, Governor Oeystein Olsen explained: The analyses imply […]
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March 272014
NZ Dollar Rallies to Multi-Year Records with Help of Trade Balance
The New Zealand dollar rallied today, reaching the highest level since August 2011 versus the US dollar and touching the highest since 2007 versus the Japanese yen. One of the reasons for the rally was the faster-than-expected growth of trade surplus. The New Zealand trade balance demonstrated a surplus of NZ$818 million in February up from NZ$286 million in January. The actual value was noticeably above the forecast reading of NZ$595 million. The kiwi rallied for the fifth […]
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March 272014
Loonie Clings to Gains Along With Other Commodity Currencies
Commodity currencies are still clinging to gains, even after a bit of a pull back following yesterday’s commodity-fueled run. Canadian dollar is one of those that remains mostly higher against its major counterparts, logging gains against the US dollar. Canadian dollar remains mostly higher today, even though it is slipping against the UK pound. Against the US dollar and euro, though, the loonie retains the upper […]
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March 272014
EUR/USD Continues to Slide on Negative Interest Rates Talks
EUR/USD continued to fall today as European policy makers continued to talks about the possibility of negative interest rates. The drop slowed though, and the currency pair trades not far from its opening level. In the United States, the economic reports were mostly disappointing (with the exception of unemployment claims), but the dollar did not pay attention to this. Initial jobless claims fell from 321k to 311k last week. It was […]
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March 272014
Pound Gains with Help of Weale’s Comments
The Great Britain pound rallied yesterday as Monetary Policy Committee member Martin Weale talked about a potential increase of interest rates. The currency kept most of its gains versus the US dollar but retreated against the Japanese yen today. Weale said in an interview to the Reading Post that interest rates should not remain low indefinitely and will rise as the economy normalizes. He explained: While my best guess is any […]
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