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Day: May 30, 2014
May 302014
Australian Dollar Moves Inversely to Fundamental Data
The Australian dollar fell today versus the euro and the Japanese yen, staying flat against its US counterpart at the same time. It is a puzzling behavior as today’s economic report was good, while yesterday’s data was bad but did not prevent the Aussie’s rally. Today’s data about private sector borrowing showed an increase by 0.5 percent in April, while analysts expected a 0.4 percent increase — the same as in March. […]
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May 302014
Canadian Dollar Drops as Economic Data Disappoints
The Canadian dollar edged today as economic data from Canada, including a very important report about economic growth, was rather poor, meaning that it is unlikely for the Bank of Canada to tighten its monetary policy in the near future. Canada’s gross domestic product expanded 0.1 percent in March, in line with expectations, slowing from February’s growth of 0.2 percent. GDP grew 0.3 percent in the first quarter of 2014 […]
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May 302014
US Dollar Slips on Consumer Spending News
The US dollar is slipping today, heading mostly lower as the latest economic data disappoints. Concerns about the still-slow economic recovery continue are holding the greenback down right now. Consumer spending in the United States fell for the first time in a year, with the US Commerce Department reporting that spending slipped 0.1 per cent last month. This news comes on the heels of an adjusted GDP report for the first quarter of 2014 […]
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May 302014
Euro Gains Some Ground Against the US Dollar
Even with deflation worries increasing in the eurozone, the 18-nation currency is gaining some ground against the US dollar right now. US data is a bit disappointing, and that is giving euro a bit of an edge right now. The latest inflation data is in from Spain and Ireland, and it appears that those countries are well below the mark. This news means that the eurozone’s continued battle against deflation […]
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May 302014
GBP Gains on USD as UK Consumer Sentiment & House Prices Rise
The Great Britain pound rallied against the US dollar today as the UK consumer sentiment improved and house prices were rising. The sterling trimmed its gains against the greenback by now and trades virtually flat versus the Japanese yen. The GfK UK Consumer Confidence Index rose from -3 in April to 0 in May. The report commented on the result: A rise of three points in the Index in a month is itself a significant change, but what matters […]
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May 302014
Yen Rises with Inflation, Has Troubles Keeping Gains
The Japanese yen rallied today as nation’s consumer inflation accelerated, reducing chances for additional stimulating measures from the central bank. The currency has troubles keeping gains, trimming its rally versus the US dollar and erasing it completely against the euro. Japan’s core Consumer Price Index rose 3.2 percent in April after rising 1.3 percent in March. Tokyo core CPI was up 2.8 percent in May following […]
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May 302014
EUR/USD Jumps, Erasing Weekly Loss
EUR/USD jumped on the last trading day of May, reversing its weekly loss and turning it into a gain. It is a surprise as European indicators were negative, while US reports were not very bad (in fact some of them were surprisingly positive). The currency pair will end this week with a small gain if it closes near the current level but it is still heading to the 1.6 […]
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