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Day: August 28, 2014
August 282014
Dollar Gains on Domestic Data, Loses Ground vs. Yen
The US dollar rose against some of its major peers, including the euro, with help of positive domestic data. It looks like news from Ukraine limited gains somewhat and actually send the greenback down versus the Japanese yen and even the Great Britain pound. Economic indicators from the United States were good, particularly the gross domestic product data and the housing report. GDP expanded 4.2 percent according the preliminary […]
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August 282014
Taiwan Dollar Gains on Capital Inflows
The Taiwan dollar advanced today on speculations that capital inflows into Taiwan’s economy will prompt the central bank to refrain from an intervention even as the currency appreciates. Taiwan’s benchmark TAIEX index rallied 1.1 percent today as overseas investors poured a net $666 million into local shares. Analysts think that inflation may accelerate to 1.8 percent this month, the fastest pace since February 2013. Unlike some […]
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August 282014
Ringgit Retreats vs. Dollar, Retains Optimistic Prospects
The Malaysian ringgit retreated a bit against the US dollar today after the initial rally, but analysts still have a positive outlook for the currency due to Malaysia’s accelerating economic growth and expectations of an interest rate hike. Malaysia’s gross domestic product expanded 6.4 percent in the second quarter of this year, demonstrating the fastest growth in more than a year and beating analysts’ estimates. The Bank Negara Malaysia increased its key interest rate […]
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August 282014
Canadian Dollar Retains Strength
Loonie is retaining some of its recent strength in Forex trading, logging gains on the Burger King plan to buy Tim Hortons, as well as getting some help from expectations for positive economic data, due out tomorrow. Canadian dollar is getting a boost from high expectations right now. While some believe that the loonie is overvalued, right now the currency is doing reasonably well against most […]
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August 282014
EUR/USD Resumes Decline on US GDP & Housing
EUR/USD resumed its decline today after yesterday’s short-lived bounce as economic indicators from the United States were rather good, especially the positive GDP revision and the pending home sales figure. Preliminary reading of US GDP showed growth by 4.2% for Q2 2014 that followed the drop by 2.1% in Q1. The actual reading was better than the predicted 3.9% and the advance estimate of 4.0%. (Event A on the chart.) Initial jobless claims were […]
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August 282014
Aussie Climbs on Capex Data
The Australian dollar jumped against its US counterpart after data showed that private investment increased last quarter unexpectedly. The Aussie’s gains against the euro and the Japanese yen were smaller, but the Aussie dollar still reached the highest level this year against those currencies. New capital expenditure (capex) rose 1.1 percent in the June quarter from the March quarter on a seasonally adjusted basis. The median forecast promised […]
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August 282014
Dollar Halts Rally as Traders Trim ECB Easing Bets
The US dollar declined yesterday and maintained its losses today as investors trimmed bets on monetary easing from the European Central Bank. It is also likely that profit-taking contributed to the greenback’s drop. The ECB will conduct its monetary policy meeting on the next week, and traders were anticipating additional monetary accommodation after bearish comments from ECB President Mario Draghi at the Jackson Hole Symposium last week. But […]
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