Day: June 17, 2014

June 17
2014

Greenback Gains Against Most Other Currencies

The US dollar index is higher today, thanks to the greenback’s performance against most of its counterparts. The US dollar is gaining ground against a number of its counterparts as economic data from other regions comes in, and as the ECB announces that it will extend its dollar liquidity program. The US Department of Labor released its latest CPI data, showing that that May CPI rose 0.4 per […]

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June 17
2014

Vietnamese Dong Falls, Officials Believe Exchange Rate Will Be Stable

The Vietnamese dong fell today, but central bank officials are certain that the currency’s exchange rate should remain stable over the longer term. One of the reasons for such outlook is the limited Vietnam’s exposure to the Chinese banking sector. Vietnamese policy makers argued that Chinese banks have no significant presence in the country, meaning that the potential economic slowdown in China will have limited impact on Vietnam’s economy. […]

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June 17
2014

Euro Struggles After Wage Data

The latest wage data for the eurozone has been released, and it looks as though wage growth slowed in the first quarter of 2014. This news is disappointing to many, since it indicates that the wage situation in the eurozone isn’t likely to improve anytime soon. It also shows that things aren’t picking up in terms of an economic recovery. A report from Eurostat indicates that worker pay rose 1.5 per cent […]

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June 17
2014

GBP Falls vs. USD on Disappointing CPI, Holds Ground vs. JPY

The Great Britain pound fell against the US dollar today as UK inflation slowed last month, missing analysts’ expectations. The currency managed to trim its losses and was able to gain on the Japanese yen. Great Britain’s Consumer Price Index was up 1.5 percent in May from a year ago compared to the growth of 1.8 percent in April. Specialists expected a minimal drop to 1.7 percent. Most other reports from the United […]

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June 17
2014

German Economic Sentiment & US CPI Drive EUR/USD Lower

EUR/USD dropped today as the German Economic Sentiment Index fell this month, dropping for the sixth month in a row. (Event A on the chart.) Meanwhile, US inflation accelerated, while market participants have expected it to slow. Even the poor housing report from the United States did not prevent the dollar from gaining on the euro. Both housing starts and building permits fell in May. Housing starts were down from 1.07 million […]

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June 17
2014

Australian Dollar Weakens as RBA Promises to Keep Interest Rates Low

The Australian dollar dipped today as the Reserve Bank of Australia confirmed in its policy meeting minutes that it is going to keep interest rates at the current record low level for a prolonged time. The RBA released the minutes of its June policy meeting today. Analysts considered the minutes to be a bit more dovish than was expected. The central bank reiterated its concerns about the relatively high value of the Australian currency: Members […]

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June 17
2014

Pound Backs Off After Reaching Multi-Year Highs

The Great Britain pound fell against the US dollar and rose versus the Japanese yen at the current trading session, reversing its Monday’s movement. The sterling also continued to fall versus the euro. This does not necessarily mean that the UK currency lost its bullish momentum as it reached multi-year highs at the previous trading session. The strength of the pound is the major theme on the Forex market right now amid otherwise quiet […]

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