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Day: July 8, 2014
July 82014
For Second Session Dollar Fails to Rally
The US dollar yet again attempted to rally and yet again it failed. Even another better-than-expected employment report was not able to boost the currency, which erased its earlier gains versus the euro and the Great Britain pound and fell versus the Japanese yen today. The Bureau of Labor Statistics reported today that the number of job openings rose by 4.64 million in May. The figure was above the predicted reading of 4.53 million […]
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July 82014
Unexpectedly Poor Data Makes GBP Soft, Currency Shows Resilience
The Great Britain pound turned down today as economic indicators came out much worse than was expected, prompting the British Chamber of Commerce to talk about necessity for the Monetary Policy Committee to delay interest rate increases. The currency recovered against some of its peers, including the US dollar and the euro, but remained soft versus the Japanese yen. It was expected that this week’s macroeconomic reports would be […]
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July 82014
Aussie Gains with Business Sentiment
The Australian dollar gained today as the Australian business confidence improved last month, albeit not much. The currency was also supported by hopes for strong employment growth. The Business Confidence Index of National Australia Bank rose from 7 in May to 8 in June. NAB said: Business confidence showing no ill effects from the governmentâs âtough budgetâ, rather improving in line with better business conditions (reflecting sales and profits) […]
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July 82014
Euro Drops Below 1.3600 Level Against US Dollar
Euro has dropped below the 1.3600 level against the US dollar, and is down against other major currencies as well. There is a bit of risk aversion on the Forex market today, as well as speculation that the ECB will have to take further action on stimulus if the euro’s strength remains where it is. Even with all that has been done by ECB policymakers to weaken the euro and stimulate the eurozone economy, […]
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July 82014
NZ Dollar Gains as Fitch Raises New Zealand’s Credit Rating Outlook
The New Zealand dollar gained today as Fitch ratings raised the outlook for the nation’s credit rating from stable to positive, adding to signs that the New Zealand economy performs very well. Fitch kept the credit rating at AA, two notches below the top grade, but raised the outlook to positive. The credit agency cited several reasons for such decision, among them “fiscal consolidation” that “is strengthening the resilience of New Zealand’s […]
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July 82014
Short-Term Forecast for UK Pound Ahead of BoE Meeting
The Great Britain pound has been a remarkable performer on the Forex market recently but lost its upward momentum during the end of the last week. Will the currency be able to resume its thrust to the upside or the period of strength has come to an end? Fundamentals still look good for the currency, though not much economic data is expected this week. The most important event will be the Bank of England monetary policy […]
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