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Day: July 15, 2014
July 152014
ZEW Sends Euro Below 1.3600 Mark Against Dollar
The euro is losing ground fast, thanks in large part to the latest data out of Germany. Concerns about the German ZEW have the euro down pretty much across the board, particularly against the US dollar. Concerns about the eurozone’s largest economy have many speculating that, perhaps, the ECB will have to take further steps to stimulate the economy of the 18-nation currency region. Germany is the eurozone’s largest economy, and is often […]
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July 152014
US Dollar Index Gains Mostly Due to Policy Divergence
US dollar index is heading higher today, gaining ground as policy divergence becomes more of an issue, especially with the euro. Since the euro is the currency with the heaviest weight in the dollar index basket of currencies, it’s no surprise that the index is doing well. The US dollar continues to benefit from a combination of expectations that the Federal Reserve will have to raise rates at some point and the fact that policy […]
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July 152014
EUR/USD Sinks, Driven by German Economic Sentiment
EUR/USD sank, despite today’s dovish speech of Federal Reserve Chairwoman Janet Yellen (event C on the chart), as the sentiment indexes for Germany and the whole eurozone unexpectedly plunged (event A on the chart), fueling concerns about the economic situation in Europe. As for US data, most of it was worse than anticipated with the notable exception of the New York manufacturing index. Retail sales were up 0.2% in June, less than was predicted — 0.6%. […]
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