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Day: May 13, 2014
May 132014
NZ Dollar Rallies, Struggles to Keep Gains
The New Zealand dollar gained today but had hard time keeping gains as macroeconomic reports from China, the biggest trading partner of the South Pacific nation, were somewhat disappointing. Today’s data from New Zealand showed growth of food prices, while a bunch of important economic reports will be released at the start of tomorrow’s trading session. China’s economic indicators missed analysts’ expectations. Industrial production grew 8.7 […]
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May 132014
Sterling Shows Weakness Ahead of Important Reports
The Great Britain pound demonstrated weakness today ahead of tomorrow’s important economic releases that should guide the currency’s performance for the near future. Similar to most other major currencies, the sterling managed to outperform the euro. It is expected that claims for unemployment benefits will show a drop by 30,700. The unemployment rate should fall by 0.1 percentage point to 6.8 percent according to analysts’ estimates. Bank of England Governor Mark Carney […]
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May 132014
Euro Drops on Bundesbank Report
It really looks as though the eurozone is going to see some further stimulus in the next couple of months, and the euro is down almost across the board on the news. The latest Bundesbank report is supportive of stimulus measures, and that could mean more euro weakness. Germany’s central bank issued a report indicating that it is prepared to back stimulus measures in the eurozone. Some of these stimulus measures include negative deposit […]
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May 132014
Krona Rallies as Sweden Exits Deflation
The Swedish krona rallied today as the country’s economy exited deflation, while the number of employed persons continued to grow, suggesting that the economy fares well. Statistic Sweden reported that the inflation rate was unchanged in April (0.0 percent change) after falling 0.6 percent in March. The report said: The main factor behind this month´s increase was more expensive international airline tickets (38.8 percent) which contributed upwards […]
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May 132014
US Dollar Higher, But Gains Could Be Pared
US dollar is mostly higher today, gaining as other currencies show weakness. However, thanks to the latest retail sales data, some of the greenback’s gains could be pared. Greenback is enjoying a boost today against most of its major counterparts. News that the Bundesbank is ready to support further stimulus in the eurozone is sending the 17-nation currency lower. Dollar is also getting help against high beta […]
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May 132014
Yen Experiences Weakness, Attempts to Recover
The Japanese yen was one of the weakest currencies at the beginning of this week, but today it is trying to recover. The currency pared its losses versus the US dollar and rallied against the euro. It looked like tensions around Ukraine should have increased after Donetsk and Luhansk, the eastern regions of the country, had a referendum about seceding from Ukraine. Yet there were no immediate clashes after the controversial vote […]
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May 132014
EUR/USD Loses Ground due to German Economic Sentiment
EUR/USD tumbled today as the German economic sentiment dropped much more than was expected, increasing chances for additional monetary stimulus from the European Central Bank in June. (Event A on the chart.) The currency pair was attempting to hold ground at the beginning of this week following the last week’s big losses but failed to do so due to the negative report. The euro lost to the dollar even though data from the United States was […]
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May 132014
Aussie Looks for Direction amid Conflicting Fundamentals
The Australian dollar did not move far in either direction today amid conflicting fundamentals. The currency has an upward bias against the Japanese yen and slightly downward bias versus the US dollar and the euro. Yesterday’s report about business confidence from National Australia Bank was positive, showing a small increase of the index from 4 in March to 6 in April. Today’s housing data was not so good. The House Price […]
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May 132014
CAD Trades Sideways, Attempts Rally vs. JPY
The Canadian dollar was trading sideways at the beginning of this week after the Friday’s drop due to poor employment data. The currency was flat against the US dollar and the euro but was rising against the Japanese yen. Canadian employment lost as much as 28,900 jobs in April after rising by 42,900 in the previous month. It was a huge surprise to the majority of economists who were counting on growth by about 12,800. The unemployment rate remained […]
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