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Day: June 19, 2014
June 192014
BoE Interest Rate Outlook Overshadows UK Economic Data
The Great Britain pound advanced today, rising to the highest level since October 2008 against the US dollar, bolstered by speculations that the Bank of England will raise interest rates sooner than was expected. The interest rate outlook offset the negative impact of today’s economic data on the currency. BoE Governor Mark Carney hinted last week that monetary tightening may happen sooner that markets have been anticipating. […]
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June 192014
Norges Bank Says Interest Rate Cut Possible, Krone Drops
The Norwegian krone sank today after the nation’s central bank left its monetary policy unchanged at today’s meeting but said that an interest rate cut is possible in case the economy worsens significantly. The Norges Bank left its main interest rate at 1.5 percent today. As for the interest rate outlook, the central bank said: There are prospects that the key policy rate will remain at about today’s level […]
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June 192014
Euro Gains Ground on Dovish Fed Sentiment
Euro is gaining ground today, due in large part to the dovish sentiment coming out of the US Federal Reserve. Concerns that the Fed would announce interest rate increases sooner rather than later, along with worries about the eurozone economy, had been weighing on the 18-nation currency. Today, the euro is gaining ground against its major counterparts, and is back above the 1.3600 level against the US dollar. […]
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June 192014
Swiss Franc Rises Despite SNB’s Attempts to Contain Rally
The Swiss franc gained today even though the nation’s central bank did not change its stance at today’s policy meeting, reiterating the pledge to do everything that is necessary to keep the cap on the currency. The Swiss National Bank kept its monetary policy unchanged today and issued rather dovish statement. Regarding the global economy, the SNB said that “global economic recovery remains hesitant” and “downside risks remain substantial”. […]
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June 192014
NZD Dips as New Zealand Economic Growth Misses Expectations
The New Zealand dollar dipped today after nation’s economic growth missed analysts’ estimate. The currency halted its decline by now and actually managed to erase all losses versus the US dollar. New Zealand gross domestic product expanded 1.0 percent in the first quarter of 2014, at the same rate as in the previous three months. Experts have predicted an increase by 1.2 percent. The kiwi is still supported by the prospects for additional interest rate […]
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June 192014
Dollar Bulls Continue to Suffer After Fed Announcement
EUR/USD extended its rally today as the dollar continued to experience weakness after the Federal Reserve suggested that there will be no interest rate hike in the near future. The currency pair paused its rally but remains far above the opening level. Initial jobless claims were at the seasonally adjusted level of 312k last week, somewhat below the predicted level of 316k and the previous week’s 318k. (Event A on the chart.) Philadelphia […]
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