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Day: June 16, 2014
June 162014
US Dollar Lower Today, But Strength Expected for Rest of Year
US dollar is heading lower against its major counterparts today, but strength is expected for the rest of the year as diverging monetary policies favor the greenback. For now, though, the US dollar index is lower. Greenback is struggling on the Forex market today as its major counterparts come out ahead. Recent data has been a bit lackluster, and that is weighing on the US dollar. However, many analysts expect […]
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June 162014
Euro Mixed as Bulls and Bears Face Off
Euro is mixed in Forex trading today, and bulls and bears are facing off, looking at the 1.35 level against the US dollar as an important dividing line. It’s turning into an interesting over/under debate, as well as a debate between those who see the recent ECB decision as an injection of life into the eurozone, and those who think weakness will continue. Euro is higher against the US dollar and the Canadian dollar right now, […]
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June 162014
Indian Rupee Suffers from High Crude Oil Prices
The Indian rupee fell today on speculations that rising prices for crude oil will lead to widening of the country’s trade balance deficit. Such prospects hurt the appeal of the nation’s assets. Prices for oil were rising due to the conflict in Iraq. Crude reached $114.69 per barrel on June 13, the highest price since September. India imports about 80 percent of crude oil it uses, meaning that the surge of prices should […]
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June 162014
Tensions in Iraq Increase Demand for Yen as Safe Haven
The Japanese yen advanced today as concerns about escalating tensions and the threat of a war in Iraq increased demand for safer assets among investors. The yen, being one of such assets, profited as a result. Islamist fighters captured a Northern area of Iraq, including Mosul — the second biggest city of the country. The government military forces were unable to deal with the threat, and there are rumors that the United States will become involved. As it often […]
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June 162014
Good Data from USA Doesn’t Prevent Rally of EUR/USD
Most of macroeconomic indicators released in the United States today were good, but this did not prevent a rally of EUR/USD. NY Empire State Index rose a little from 19.0 in May to 19.3 in June, while analysts thought it would fall to 15.2. (Event A on the chart.) Net foreign purchases were at $24.2 billion in April, compared to the reading of $4.1 billion in March. It was a nasty surprise for those market participants […]
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