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Day: July 11, 2014
July 112014
Fading Growth Momentum Makes Britain’s Currency Less Appealing
The Great Britain pound slid against most of its major peers today as Forex market participants are becoming increasingly concerned that growth momentum of the UK economy is waning, making the sterling less attractive as an investment vehicle. Britain’s currency was under pressure lately as economic indicators painted much bleaker picture of the UK economic health than they were doing before. Today’s data did nothing to improve […]
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July 112014
Brazilian Real Picks Up After Central Bank Stays Put
The Mexican peso advanced after the nation’s central bank left its monetary policy unchanged today following the surprise cut last month. The outlook for Brazil’s economy improved, though it is still not overly optimistic. The Banco de Mexico left its key interest rate at 3 percent at today’s meeting after unexpectedly cutting it by 50 basis points in June. The Brazilian economy improved after that but […]
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July 112014
Canadian Employment Provides Nasty Surprise, CAD Sinks
Canadian employment demonstrated strong growth in May and economists were expecting June to follow suit, showing continuous improvement of the labor market. Yet today’s report provided a nasty surprise to those Forex market participants who were hoping to buy the loonie as employment data was not good at all, driving the currency down sharply. Employment shrank by 9,400 in June after rising as much as 25,800 in May, meaning that analysts were […]
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July 112014
Yen Continues to Gain on Risk Aversion
Risk aversion continues to be a theme in the markets today, and the Japanese yen is moving higher as a result. Even with the latest mixed data out of Japan, the yen is heading higher against its counterparts as stocks struggle and as concerns about the eurozone once again come to the fore. Yesterday’s Japanese data was mixed, with Core Machinery Orders dropping a hefty 19.5 per cent, while the Corporate Goods Price Index […]
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July 112014
Yen Continues to Gain on Risk Aversion
Risk aversion continues to be a theme in the markets today, and the Japanese yen is moving higher as a result. Even with the latest mixed data out of Japan, the yen is heading higher against its counterparts as stocks struggle and as concerns about the eurozone once again come to the fore. Yesterday’s Japanese data was mixed, with Core Machinery Orders dropping a hefty 19.5 per cent, while the Corporate Goods Price Index […]
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July 112014
US Dollar Retains Upper Hand Against European Counterparts
US dollar is retaining its upper hand against counterparts today as the good news about initial jobless claims offers speculation that an improving jobs situation could lead to an interest rate hike. Even though the latest Fed minutes don’t support the idea of rate hikes anytime soon, there are still many who hope for better outcomes for the greenback. Greenback is higher today against its European […]
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July 112014
Indian Rupee Gains as Exporters Repatriate Earnings
The Indian rupee demonstrated biggest advanced in more than a week today, following yesterday’s massive slump, as India’s exporters were selling dollars to convert their earnings into the local currency. Exporters were buying the rupee to profit from the currency’s weakness. Finance Minister Arun Jaitley revealed that the government plans to allow more foreign investment. He also promised to reduce the current account deficit. All these news were […]
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