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Day: March 28, 2014
March 282014
Franc Drops on Zurbruegg’s Comments, Shows Some Resilience
The Swiss franc fell against the euro today, pushed down by yesterday’s comments of Fritz Zurbruegg, Governing Board member of the Swiss National Bank. The currency was flat versus the US dollar and even managed to gain on the Japanese yen. Zurbruegg said yesterday that the elevated exchanged rate makes it necessary for the central bank to keep the cap on the currency: The value of the Swiss franc is still high. With the three-month Libor close to zero, […]
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March 282014
Euro Recovers From Earlier Losses
Euro is recovering from earlier losses today, eking out gains even after the latest German inflation data. Some Forex traders are waiting to analyze comments by Mario Draghi, and others are waiting to see what impact US data will have on the Forex market. Even though the euro is heading higher, it’s not a day for big moves on the currency market. There’s a lot of uncertainty, with some […]
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March 282014
US Dollar Consolidates Ahead of Data Dump
US dollar is consolidating right now, and is a little lower against some of its counterparts, even as the dollar index remains slightly higher. Rangebound trading is in effect right now, thanks in large part to the fact that Forex traders are waiting for a rash of data from the United States. Today’s US trading session should bring with it a data dump, and many Forex traders are waiting to see […]
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March 282014
Yen Drops, Ignoring Positive Data
The Japanese yen ticked down today even after the release of economic reports that were rather good and supported the view that the economy expands at stable pace and no additional stimulus is necessary. Japan’s core Consumer Price Index demonstrated stable growth at 1.3 percent, while the Tokyo core CPI rose 1.0 percent in February, accelerating from January’s 0.9 percent. The unemployment rate unexpectedly fell by 0.1 percentage […]
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March 282014
Rupee Rallies on Hopes of Reforms in India, Growth in China
The Indian rupee rallied today on hopes that a new government will bring reforms that bolster economic growth and attract more investors to the country. Speculations that China will take measures to sustain its impressive economic expansion also helped the currency. The rupee was rising as investors were hoping that the next month’s elections will bring positive changes to the economic policy of India. It is expected that growth […]
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March 282014
EUR/USD Halts Decline, Unsure Where to Go
EUR/USD paused its three-day drop today and did not move far in either direction as economic data from both the United States and Europe was not particularly inspiring. In Europe, German inflation slowed, while in the United States consumer confidence dropped more than was expected. Both personal income and spending grew 0.3% in February, in line with forecasts. Income rose at the same 0.3% rate in January, while spending […]
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