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Day: June 18, 2014
June 182014
Dollar Drops on Fed Outlook for Growth & Interest Rates
The US dollar fell today after the Federal Reserve trimmed its monetary stimulus but lowered the growth forecasts and predicted that interest rates will remain extremely low for a long period of time. The Fed cut its monthly asset purchases by $10 billion to $35 billion dollar, a move that was widely expected by traders. The central bank reduced its projections for economic growth in 2014 to 2.1–2.3 percent from its […]
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June 182014
Ringgit Drops on Fed Stimulus Reduction Bets
The Malaysian ringgit fell today on concerns that probable stimulus reduction by the US Federal Reserve will spur investors to pull their money from emerging markets. The two-day monetary policy meeting of the Fed ends today and it is expected that the US central bank will trim the monthly asset purchases by another $10 billion. Market analysts say that traders are already pricing in an interest rate hike. As a result, […]
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June 182014
Loonie Remains Mostly Lower
Speculators are keeping the loonie mostly lower again today. Some analysts think that these speculators are being stubborn, and that the Canadian dollar has more upside potential than is being shown. For now, though, the loonie continues to struggle. Canadian dollar is down against most of its major counterparts, with the main exception of the pound. While loonie weakness is to be expected at some point, in general, […]
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June 182014
Indonesian Rupiah Suffers from High Oil Prices & Dollar Hoarding
The Indonesian rupiah dropped today on concerns that rising oil prices will hurt the trade balance and on speculations that importers were hoarding dollar. Indonesia has the same problem as India — rising prices for crude oil will likely cause the trade balance deficit to widen. The trade gap already reached $1.96 billion in April — the highest level in nine months. Additionally, there were signs that companies were buying dollars […]
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June 182014
EUR/USD Gains as FOMC Lowers Growth Forecast
EUR/USD advanced today as the US Federal Open Market Committee lowered its growth forecasts and reiterated that interest rates will likely remain extremely low for a prolonged period of time. Such statement disappointed those dollar bulls who were hoping for monetary tightening in relatively near future. The monetary policy of the Federal Reserve remains dollar-positive in a longer run, but for now absence of a major shock from the US central bank […]
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