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Day: May 9, 2014
May 92014
Greenback Surges Against Major Counterparts
US dollar is gaining ground against its major counterparts as the fallout from Mario Draghi’s comments continue to encourage traders to change direction. Dollar index is higher, as the greenback makes particular gains against the euro and the pound. The US economy has been gather steam, and even though Janet Yellen refused to set a timetable for the Fed’s taper and provide clear guidance on interest rates, more immediate matters are taking […]
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May 92014
Euro Takes a Hit on Stimulus Talk
Euro is heading lower, thanks to the latest talk of stimulus in the eurozone. For weeks Mario Draghi has been preparing traders for the possibility of further easing, but recent comments indicate that looser monetary policy might be imminent. As a result the euro is taking a hit, especially against the greenback. Yesterday, European Central Bank President Mario Draghi made comments that indicate that interest rates in the eurozone could be […]
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May 92014
Brazilian Real Gains on Inflation Outlook
Brazil is yet another country with accelerating inflation that may affect the central bank’s policy decision. This led to gains of the Brazilian real, which rose today, reaching the highest price since April. Analysts estimated ahead of the official report that Brazilian consumer prices grew 6.41 percent in April. The figure is close to the upper band of the central bank’s target. Unlike Chile with consumer price growth […]
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May 92014
Accelerating Inflation Makes Chilean Peso Biggest Gainer
The Chilean peso rallied today as nation’s consumer prices grew with faster pace, suggesting that there is no immediate need for the central bank to stimulate economic growth with additional monetary accommodation. Chile’s inflation climbed from 3.5 percent in March to 4.3 percent in April, exceeding the central bank’s target of 2 to 4 percent for the first time since February 2012. The Central Bank of Chile kept interest rates […]
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May 92014
ECB Plans to Ease Policy in June, EUR/USD Sinks
EUR/USD extended its drop for the third consecutive session today, falling to the lowest level in a month, after European Central Bank President Mario Draghi suggested that he will likely add monetary stimulus as soon as next month. Economic data from Europe supported such outlook, being rather negative, while the US report about unemployment claims were better than expected, allowing the dollar to gain on the euro. Wholesale […]
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