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Day: June 9, 2014
June 92014
Euro Heads Lower on Policy, Business Confidence
Euro is down nearly across the board today, dropping as policy measures indicate weakness ahead, and as business confidence in the 18-nation currency region falters. With policy divergence from the United States and other major economies, and concerns about the future, it is little surprise that the euro is struggling today. Last Thursday, the European Central Bank‘s policymakers revealed their plan for keeping the eurozone from slipping back into […]
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June 92014
Greenback Mostly Higher Today
US dollar is mostly higher today as the greenback is identified as a likely candidate for strength in the coming months. Recent developments in the eurozone are likely to help the greenback, and positive economic news is spurring speculation — again — that the Federal Reserve will have to make a move to cap inflation soon. On Friday, the nonfarm payrolls data for the United States indicated more jobs to the economy. Employment has officially returned to its pre-recession peak, […]
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June 92014
Polish Zloty Falls, While Officials Expect Appreciation
The zloty fell today, but Polish officials are concerned that the currency may yet strengthen due to the extremely accommodative policy of the European Central Bank, threatening the nation’s economic wellbeing. National Bank of Poland Governor Marek Belka said that the last week’s policy decision of the ECB “has a potential to strengthen the zloty”, and this is “not good as it could slow down our exports, slow down our economy”. […]
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June 92014
Yen Struggles to Gain with Help of Positively Revised GDP
The Japanese yen attempted to erase its initial drop and rally on the current trading session with help of the positively revised data about nation’s economic growth. Gains were limited, though, as Japan’s current account surplus was smaller than analysts have predicted. Japan’s gross domestic product grew 1.6 percent in the first quarter of this year according to the revised estimate, compared to the preliminary estimate of 1.5 percent and economists’ prediction […]
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June 92014
Will EUR/USD Set New Yearly Low This Summer?
Normally, currency trading is not very active from June through August — lower liquidity results means that the prices are unable to go through some strong levels of support or resistance. But slow summer is not a rule, and sometimes hot months bring action to the FX market too. In my opinion, the summer of 2014 will be one of the active ones. The chart screenshot below depicts the current situation on EUR/USD […]
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