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Day: June 25, 2014
June 252014
Japanese Yen Moves Higher After May CSPI
Japanese yen is higher today, gaining ground against its major counterparts, following the release of May CSPI data. With concerns about what might be next on a global scale, there is a bit of an interest in safe haven. On top of that, with signs that the Japanese economy is recovering, there are some thoughts that the Bank of Japan won’t need to keep the yen weak. For the month of May, the Japanese […]
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June 252014
How Long Can the Euro Stay on Top?
Questions about how long the euro can remain on top in Forex trading are being raised today as the 18-nation currency continues to hold its own against some of its major counterparts. While the euro is down against the yen, it is higher against the dollar and the pound. Even with the disappointing data recently released in the eurozone, the euro is heading higher against some of its major counterparts today. Sterling […]
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June 252014
Bank Indonesia Encourages Rupiah to Depreciate
The Indonesian rupiah fell today as the nation’s central bank signaled that it encourages weakness of the currency as it should help local exporters and improve the trade balance. Mirza Adityaswara, Senior Deputy Governor of the Bank Indonesia, said yesterday that the currency should be temporarily âundervaluedâ to improve competitiveness of nationâs exports and reduce imports. This should reduce the trade balance deficit, which was biggest since July. The trade gap, […]
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June 252014
Conflict in Iraq Results in Risk Aversion, Ringgit Falls
The Malaysian ringgit dropped today, reaching the lowest level in a week, as the escalating conflict in Iraq resulted in the risk aversion sentiment on the Forex market and made investors less willing to buy riskier assets of emerging markets. Infightings in Iraq continue, and Islamist insurgents control large parts of the country. There were reports that Syria performed air strikes at its neighbor, resulting in deaths of 50 people. Geopolitical tensions made FX traders flee […]
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June 252014
Negative Revision of US GDP Propels EUR/USD Higher
EUR/USD surged today on the back of poor US data, most notably the significant downward revision of US gross domestic project. Even risk aversion, which prevails on the Forex market, was not able to keep the currency pair down. As of now, the pair halted its upward movement but holds onto gains. US GDP decreased at the annual rate of 2.9% in Q1 2014 after rising 2.6 percent in Q4 2013 according […]
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