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Day: July 22, 2014
July 222014
Indonesian Rupiah Drops due to Contested Elections Result
The Indonesian rupiah dropped today as the result of this month’s presidential election was contested by one of the candidates, who said that the voting was undemocratic and unfair. Prabowo Subianto, who lost the presidential election to Joko Widodo, contested the result. He said that the voting was nontransparent and violated many rules. The election’s outcome may remain unclear till August if an appeal will be filed to the Constitutional Court, and this should […]
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July 222014
Thai Baht Advances on Hopes for Overseas Inflows
The Thai baht advanced today on speculations that government spending will improve the nation’s economy, attracting investors to the country. The currency rose to the highest level since November. The junta, which seized the power through a military coup, is spending money on improving the nation’s economy, which declined in the first quarter but now may return to growth. The positive economic outlook was attracting overseas inflows, making the baht one of the best-performing currencies […]
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July 222014
Euro Weakness Finally Shows as ECB Gets Serious About Stimulus
Forex traders are seeing that the ECB is really serious about stimulus, and the result is that euro weakness, after threatening for months, finally seems to be appearing on a more long-term basis. Euro is down against its major counterparts today, noticeably dropping through the 1.3500 level against the US dollar. Euro is mostly down today, dropping against its major counterparts due to a combination of risk […]
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July 222014
Canadian Dollar Looks to Hold to Yesterday’s Gains
Canadian dollar is hoping to hold on to some of yesterday’s gains, and with thin trading and concerns about the geopolitical situation, that’s a possibility. Yesterday, the loonie closed higher against most of its major counterparts, thanks in large part to the fact that this week is a thin one for data, and thanks to geopolitical tensions that have many looking for non-European investments right now. Concerns that the situation in Ukraine will lead to greater […]
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July 222014
Positive Data from USA Pushes EUR/USD To New Lows
EUR/USD dropped to the lowest level since November at today’s trading session as positive macroeconomic data from the United States suggested that the Federal Reserve may start monetary tightening sooner than was expected. Meanwhile, the European Central Bank shows signs that it is ready for additionally monetary easing. The currency pair was also under pressure from the risk aversion sentiment as European Union officials gather in Brussels […]
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July 222014
Dollar Steady amid Monetary Policy Speculations
The US dollar held steady today, rising a little against the Japanese yen, as traders were speculating about possible actions of US policy makers and about geopolitical risks that are driving the Forex market right now. The dollar has the same supportive factor as the UK sterling — the interest rates outlook. While the Federal Reserve was making attempts to downplay rate hike expectations, most market participants believe that the central […]
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July 222014
Britain’s Sterling Shows Resilience Despite Negative Data
The Great Britain pound showed resilience despite negative domestic data. The currency held steady today after a small drop against the US dollar and the euro yesterday. The sterling even managed to rise against the Japanese yen. The Rightmove House Price Index dropped 0.8 percent in July after rising 0.1 percent in June. It looks like the efforts made by the Bank of England to cool the housing market are starting to have an effect. […]
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