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Day: July 18, 2014
July 182014
Euro Breaches $1.35 for First Time Since February, Recovers
The euro breached the $1.35 level for the first time since February yet was able to recover and close flat versus the US dollar, though it still ended the week with losses. The currency gained on some other majors, including the Japanese yen and the Great Britain pound. While the euro was under pressure from risk aversion initially, the currency managed to recover after risk aversion. Of course, concerns about the economic health […]
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July 182014
UK Pound Pauses After Gains Earlier This Week
UK pound is pausing today, looking for consolidation at the end of this week after solid gains driven by encouraging economic data. More strength is expected for the sterling going forward, especially against the euro, thanks to the improving economic picture. So while the pound is lower today, it is likely to strengthen in coming weeks. Sterling has been doing pretty well this year, including a rally performance earlier […]
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July 182014
US Dollar Continues to Gain on Expectations
US dollar index is higher today as the greenback continues to gain on expectations for improvement in the economy. With Janet Yellen’s upbeat assessment earlier this week, even slightly mixed data can’t dampen the spirits of those that think the US dollar will soon gain strength as the Fed reduces is easing efforts. Greenback is higher against most of it major counterparts today, gaining on expectations that the Federal Reserve […]
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July 182014
Yen Backs Off After Risk Aversion Fades
The Japanese yen declined today, following the three-day rally against the euro, as the Forex market calmed after the initial surge of risk aversion and safe assets started to lose their value that they have gotten with risk premium. While geopolitical concerns are still weighing negatively on some riskier currencies, safer ones are not necessary find the same demand as at yesterday’s trading session. It looks like FX […]
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July 182014
Malaysian Ringgit Suffers from Geopolitical Risks
The Malaysian ringgit dropped today, leading other Asian currencies in decline, as geopolitical tensions made Forex market traders reluctant to buy riskier assets of emerging markets. Things are not quiet around the world, and this means that risk-associated currencies are not in favor. The crash of the Malaysian passenger aircraft over Ukraine and speculations about who caused the tragedy worsened the already heated situation in Eastern European nation. Meanwhile, Israel […]
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July 182014
EUR/USD Drops, Makes Up Losses
EUR/USD dropped today as the theme of risk aversion continued to dominate the Forex market but recouped from losses by now as economic indicators from the United States were worse than market participants have counted on. Preliminary Michigan Sentiment Index fell from 82.5 in June to 81.3 in July instead of rising to 83.5 as it was supposed to do according to analysts’ projections. (Event A on the chart.) Leading indicators rose 0.3% in June. […]
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