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Day: May 16, 2014
May 162014
NZ Dollar Loses Shine Despite Favorable Fundamentals
The New Zealand dollar lost its previous strength, falling yesterday and extending its decline today. Domestic fundamentals still look very favorable for the currency, and this means that reasons for the drop should be found outside of the country. The most likely reason for the drop is the general risk-negative sentiment on the Forex market. Traders were in a pessimistic mood as news from Europe were poor, and this, coupled with signs of economic slowdown […]
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May 162014
Euro Heads for Another Weekly Loss
The euro dropped today as investors were fleeing bonds of Europe’s peripheral economies, adding to pressure on the European Central Bank to stimulate the struggling economy. The currency was heading for a second weekly loss versus the US dollar and the Japanese yen, and it will be the third week of decline against the Great Britain pound. Securities of such countries as Greece and Portugal were losing value as investors had lack of confidence in the countries’ economic performance. The surplus […]
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May 162014
UK Pound Continues to Show Strength
UK pound continues to show strength today, following up on yesterday’s rebound. Sterling is gaining particularly against the euro, although it is higher against other major currencies as well. The United Kingdom is emerging as one of the stronger of the major economies, and that is helping the UK pound right now. Sterling is up against most of its major counterparts, gaining ground as disappoints appear on every side. One […]
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May 162014
Dollar Index Continues to Climb as Risk Aversion Rises
The dollar index continues to climb, remaining above the 80.0000 level, as risk aversion continues to be the story. In many cases, dollar strength is mostly due to the weakness of currencies like the euro and the Canadian dollar — even though the dollar is down against other individual currencies like the yen. Right now, the US dollar index is on the rise, and a lot of that increase is coming from euro weakness. The dollar index is […]
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May 162014
Yuan Drops, Intervention Suspected
The Chinese yuan slid today, heading to a weekly loss, on speculations that the central bank intervened to prevent appreciation of the currency as a measure to help local exporters. Analysts think that this week’s drop is a result of an intervention from Chinese policy makers, who prefer the yuan to be weak. Chinese officials denied the intervention, saying that the currency’s moves were in accordance with balance of supply and demand. The People’s Bank of China increased […]
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May 162014
Hopes for Reforms from New Government Boost Indian Rupee
The optimism about the election results in India continued to support the rupee, making the currency rally today. The currency has risen 2 percent over the week, demonstrating the biggest advance since September. The results of the vote will be announced today, but for now all the signs show that the opposition Bharatiya Janata Party should have a landslide victory. The index of local shared jumped 5.2 percent, the biggest gain in five years, to the all-time […]
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May 162014
Talks About ECB Stimulus Persist, EUR/USD Trades Sideways
Traders were fleeing bonds of peripheral European economies, fueling talks that the European Central Bank will add monetary stimulus during its June policy meeting. There are rumors that the Bundesbank has already agreed on such measure. Yet EUR/USD did not extend its drop on the speculations. In fact, it demonstrated rather weird behavior, rallying after the positive housing report from the United States and turning […]
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