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Day: August 1, 2014
August 12014
Czech National Bank Keeps Koruna Cap Intact
The Czech koruna rose against the euro today after falling yesterday as the nation’s central bank kept interest rates near zero and left the cap on the currency intact during its policy meeting. The koruna rose together with other most-traded currencies against the dollar. The Czech National Bank decided to keep its main interest rate at the technical zero (0.05 percent) yesterday. The central bank remains concerned that inflation slows […]
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August 12014
EUR/USD & EUR/GBP Rally, EUR/JPY Unable to Keep Gains
The euro rallied against the US dollar with help of disappointing US non-farm payrolls. The currency also gained on the pound as data from Great Britain was not good either. Against the Japanese yen, the euro rallied intraday but gave away gains as of now. Manufacturing data from Europe was somewhat disappointing, at least to euro bulls, as it missed analysts’ predictions. Yet it was not completely bad, just […]
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August 12014
Economic Data Weighs on Pound
Sterling is heading lower today, dropping as the latest manufacturing growth data disappoints. The UK economy continues to struggle, and it doesn’t help much that the Bank of England has predicted slowing growth in the economy. Indeed, compared to some of its major counterparts, the slowdown is disappointing, and contributing to losses for the pound. The latest UK PMI from Markit fell to 55.4 in July, down from a 57.2 in June. The drop wasn’t wholly unexpected, […]
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August 12014
Dollar Index Slips, but Could Strengthen Again
The US dollar index has slipped a bit today, losing ground after the recent US dollar rally. Right now, there is a little bit of consolidation happening, and the dollar index is lower. However, when looking at the latest data, there is a good chance that the greenback could strengthen again in the near future. The latest jobs data to come out of the United States indicates that the economy has added 209,000 […]
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August 12014
Yuan Falls vs. Dollar Even as Chinese Manufacturing Accelerates
The Chinese yuan fell against the US dollar today even though both official and private estimates of nation’s manufacturing were rather good, showing than the sector was expanding with accelerating pace last month. Data from both HSBC and China Federation of Logistics and Purchasing demonstrated that China’s Manufacturing Purchasing Managers’ Index was at 51.7 in July. The reading was above the neutral 50.0 level and the previous month’s reading, […]
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August 12014
AUD Loses Gains as Domestic Economic Data Not Favorable
The Australian dollar slipped against its US counterpart as the majority of today’s reports from Australia was bad. The currency also pared gains against the Japanese yen but is currently attempting to rebound. While the manufacturing index of Australian Industry Group rose from 48.9 in June to 50.7 in July, other economic indicators were not as good. The Producer Price Index fell 0.1 percent in June, frustrating analysts who have […]
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August 12014
NFP Disappoint, EUR/USD Surges Erasing Weekly Losses
The dollar sank versus the euro today as most economic releases from the United States were poor, most notably nonfarm payrolls. The ISM manufacturing index was very good but was not able to help the US currency to any noticeable degree. Nonfarm payrolls were at 209k in July, below the predicted rate of 231k and nowhere near the previous month’s revised value of 298k. The unemployment rate unexpectedly rose by 0.1 percentage […]
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