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Day: July 1, 2014
July 12014
Ruble Weakens as Cease-Fire Agreement in Ukraine Ends
The Russian ruble fell today as a cease-fire agreement between the Ukrainian government and pro-Russian separatists ended, and this may lead to additional sanctions from the United States and the European Union against Russia. Ukrainian President Petro Poroshenko announced yesterday that the cease-fire agreement with separatists ended. Both sides blame each other for violations of the deal, but what is important is that the conflict resumed. The USA blame Russia for igniting […]
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July 12014
Tankan Survey Sends Yen Lower
The Japanese yen tumbled today, reaching the lowest level since January against the Great Britain pound, as the Tankan survey showed a worsening sentiment in both manufacturing and non-manufacturing sectors. The Tankan Large Manufacturers Index dropped from 17 in the first quarter of this year to 12 in the second quarter, while analysts expected it to stay almost unchanged at 16. The Tankan Large Non-Manufacturing Index slid from 24 to 19. The yen fell due […]
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July 12014
Aussie Rises After RBA, China Adds to Bullishness
The Australian dollar advanced today, rising for the fifth straight trading session versus its US counterpart, as the nation’s central bank maintained status-quo, changing neither the current monetary policy nor the outlook for interest rates. Manufacturing data from China added to positive factors for the Aussie. The Reserve Bank of Australia left its main interest rate at 2.5 percent at today’s meeting, and such decision was widely expected by market participants. The central […]
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July 12014
EUR/USD Turns Down on Poor European Data, Losses Limited
EUR/USD fell today following two sessions of gains as most European macroeconomic indicators, including German employment and the eurozone PMI (event A on the chart), missed expectations. Losses were limited, though, as US figures were also below forecasts. ISM manufacturing PMI was at 55.3% in June, somewhat below May’s 55.4% and the forecast reading of 55.6%. (Event B on the chart.) Construction spending rose 0.1% in May from April, missing analysts’ […]
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