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Day: July 30, 2014
July 302014
Yen Falls as Data from USA & Europe Suggests Haven Unnecessary
The Japanese yen weakened today, touching the lowest level since April against the US dollar, as economic data from both the United States and the eurozone was mostly good, making the currency unnecessary in its role of a safe haven. Growth of the US economy was at 4 percent in the second quarter of this year, exceeding analysts’ expectations. While US employment data was a bit disappointing, it was still relatively robust. European […]
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July 302014
Data from United States Undermines Canadian Dollar
The Canadian dollar dropped against its US counterpart today, reaching a lowest level in more than a month, pressured down by signs of economic growth in the United States. The currency also retreated against the euro but managed to log gains versus the Japanese yen. US economy expanded 4 percent in the second quarter of this year, faster than was expected. It is not necessarily bad for the Canadian currency in a long run […]
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July 302014
US Dollar Continues to Gain on Fed Speculation
US dollar is higher again today, strengthening as economic data points to improvement, and on speculation that the Fed will take steps to tighten monetary policy sooner than expected. As the Fed concludes its two-day policy meeting today, many Forex traders and others are looking for clues that monetary policy will be tightened. Expectations for an improved labor market are high, and the latest consumer confidence readings and consumer spending […]
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July 302014
Euro Slips Below 1.3400 Against the US Dollar
Between German inflation and policy divergence with the United States, the eurozone is struggling — and the 18-nation currency that represents it is losing ground. Indeed, the euro has slipped below 1.3400, falling to a level not seen since last November. Euro is lower today as German inflation once again points to a softening economy. Many expect that Germany will lead the eurozone economy into slower growth, and there […]
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July 302014
Aussie Dragged Down by Outlook for US Data & Monetary Policy
The Australian dollar fell against its US peer and slipped a bit against the euro, weighed down by the US monetary policy outlook as well as by forecasts of positive macroeconomic reports from the United States. US economic indicators released today are expected to be positive, including the gross domestic product data that should demonstrate growth in the second quarter of this year after the contraction in the first quarter. Market participants are also […]
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July 302014
NZ Dollar Gains with Building Permits, Remains Under Pressure
The New Zealand dollar edged higher today, following yesterday’s drop, with help of a positive report about building permits. Gains were limited as the currency remained under pressure from the interest rate outlook for both the New Zealand and the US central banks. The seasonally adjusted number of new dwellings consented, including apartments, rose 3.5 percent in June. Excluding apartments, the number of building consents rose 2.9 percent. The Reserve Bank […]
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July 302014
EUR/USD Drops on GDP, Trims Losses After FOMC
EUR/USD sank today, reaching the lowest level since November, after the US economy demonstrated faster growth than was expected. The currency pair significantly reduced its losses after the Federal Open Market Committee issued a monetary policy statement that was less hawkish than dollar bulls have hoped for. ADP employment demonstrated growth by 218k in July, which was smaller than the predicted 234k and the June’s […]
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July 302014
Yen Steady After Industrial Production Data
The Japanese yen remained unmoved by the release of industrial production data today. The currency traded mostly sideways yesterday, though it fell together with its major counterparts versus the US dollar. Japanese industrial production sank 3.3 percent in June from May, the drop being far bigger than the predicted 1.0 percent. Yesterday’s reports were not good either. Retail sales fell 0.6 percent in June, and the unemployment […]
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