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Day: May 8, 2014
May 82014
Macroeconomic Indicators Helpful for Loonie
The Canadian dollar climbed today as the positive housing data increased the appeal of the currency and the optimistic outlook for tomorrow’s employment report made the loonie even more attractive for Forex traders. Canadian housing starts rose to 194,809 units in April from 156,592 in March. The actual figure is above market expectations. Analysts predict that tomorrow’s employment data will show an increase by 12,800. Oil prices were falling today, putting pressure […]
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May 82014
Aussie Maintains Bullishness with Help from Employment Data
The Australian dollar maintained its bullishness, rallying today following yesterday small drop, as employment data was very good, supporting the view that the nation’s economy can keep expanding without additional measures from the central bank. Australian employers added 14,200 jobs in April. This value is below the upwardly revised March reading of 21.9 but above the analysts’ projections of growth by 7,500. The unemployment rate was steady […]
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May 82014
Rand Reaches This Year’s Record, Being Top Performer
The South African rand climbed today, rising to the highest level this year, on speculations that the current ruling political party will remain in power, while positive economic news from China increased attractiveness of riskier currencies in general. The rand is the best performer against currencies of emerging economies. The ruling African National Congress is expected to extend its 20-year dominance in the National Assembly, giving hope for stability in the country. China’s […]
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May 82014
Dollar Index Gains Ground After Earlier Choppiness
Greenback’s performance was choppy early, looking for direction following comments from the Federal Reserve, as well as developments in Ukraine. There is a lot going on right now, and some Forex traders are looking for the stability the US dollar offers. Greenback is still mixed in trading against its major counterparts, but DXY is heading higher. The dollar index is gaining ground today as Forex traders look for a bit of safety. […]
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May 82014
EUR/USD Surges After ECB, Struggles to Keep Gains
The euro climbed today, reaching the highest rate since October 2011 against the US dollar, after the European Central Bank made no effort to add monetary stimulus during today’s policy meeting. The currency failed to keep gains after ECB President Mario Draghi voiced concern about the exchange rate and signaled about a possibility of additional stimulus in the future. The ECB left its main interest rate at 0.25 percent today. […]
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