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Day: July 16, 2014
July 162014
South Korean Won Drops on Interest Rate Cut Speculations
The South Korean won declined today as comments of South Korea’s official made Forex market participants speculate that nation’s policy makers may perform an interest rate cut. The new Finance Minister Choi Kyung Hwan was speaking at his inauguration today, saying about necessity to act preemptively to counter economic risks. Such comments led to speculations that the Bank of Korea will cut interest rates to support economic […]
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July 162014
New Zealand Inflation Below Expectations, NZD Loses Value
The New Zealand dollar plunged today, falling for the fourth consecutive session against its US counterpart, as inflation data came out a bit worse than was expected by market participants. The Consumer Price Index rose 0.3 percent in the second quarter of this year, at the same rate as in the previous quarter. Markets counted on somewhat bigger increase by 0.4 percent. While the difference was not that big, the kiwi plunged sharply after […]
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July 162014
Will the Loonie Erode Further After Poloz?
Loonie has been sinking, in an overall trend kind of way, since Stephen Poloz took over at the Bank of Canada. With another policy statement on the way today, there are expectations that the Canadian dollar could go lower, particularly against the US dollar. Loonie is higher against its European counterparts today, gaining ground as the picture in Europe is generally disappointing. However, the Canadian dollar is down against […]
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July 162014
Yellen’s Comments Drive EUR/USD Down for Second Day
EUR/USD dropped for a second trading session today as Federal Reserve Chairwoman Janet Yellen was testifying today. Yellen’s stance turned out to be not as dovish as it seemed. While the Chairwoman still believes that monetary accommodation remains appropriate, she also suggested that monetary tightening may happen sooner if the labor market continues to improve. Such comments allowed the dollar to gain on the euro even though US […]
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