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Day: July 23, 2014
July 232014
Hungarian Forint Rises as Central Bank Ends Interest Rate Cut Cycle
The Hungarian forint advanced today after yesterday’s monetary policy meeting of the nation’s central bank. While the bank cut its main interest rate more than was expected, it also announced an end to the longest cycle of interest rate cuts in Europe. The Magyar Nemzeti Bank cut its key central bank base rate by 20 basis points to 2.1 percent, reducing borrowing costs for the 24th consecutive month. At the same […]
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July 232014
Indonesian Rupiah Bounces to Two-Month High
The Indonesian rupiah climbed today, touching the highest level in two months, as it was announced that Joko Widodo is the victor in the nation’s presidential elections. This gives hope that political uncertainty will not be driving investors away from nation’s assets any longer. The election commision announced that Widodo won with 53.15 percent of votes. The newly elected president said that he aimd at boosting […]
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July 232014
Euro Struggles to Maintain Gains With Russian Sanctions Possible
Euro is struggling right now, trying to maintain the gains it eked out earlier in the session. However, that is proving a bit difficult, given the possibility of harsher sanctions against Russia over the whole issue of what’s happening in Ukraine. As the situation in Ukraine continues to trouble just about everyone, the euro is struggling. The 18-nation currency lost ground yesterday, but is trying to eke out gains today. However, the European […]
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July 232014
BOE Minutes Weigh on UK Pound
UK pound is down pretty much across the board today, thanks in large part to the release of the minutes from the latest Bank of England meeting. It looks as though loose monetary policy is going to continue for a little while longer, and that is keeping the sterling down against its major counterparts. The minutes to the latest Bank of England Monetary Policy Committee meeting, held earlier this month, were released earlier […]
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July 232014
Australian Dollar Jumps After Release of CPI
The Australian dollar demonstrated a huge jump today immediately after inflation data was released in Australia. The report was in line with market expectations, suggesting that the Australian central bank will keep monetary policy stable, refraining from an interest rate cut. The Consumer Price Index rose 0.6 percent in the second quarter of 2014 from the first quarter, on a seasonally adjusted basis. The trimmed mean CPI, which demonstrates the underlying […]
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July 232014
EUR/USD Keeps Losses due to Policy Outlook Divergence
The US dollar jumped against the euro yesterday and kept its gains today due to the divergence between the monetary policy outlooks for the United States and the eurozone. The greenback was virtually flat versus the Great Britain pound and somewhat lower against the Japanese yen. Many Forex market participants believe that the Federal Reserve should raise interest rates relatively soon, perhaps next year. Yesterday’s economic data did not contradict […]
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