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Day: August 29, 2014
August 292014
AUD Falls vs. USD, Holds Ground vs. JPY
The Australian dollar fell against its US peer as Australia’s private sector credit trailed analysts’ forecast. The losses were limited though, and the currency even managed to rise a little against the Japanese yen. The Reserve Bank of Australia reported that total credit for the private sector increase 0.4 percent in July. While it was not a bad result strictly speaking, the growth was still smaller than predicted 0.5 percent […]
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August 292014
Russian Ruble Slumps as Ukrainian Crisis Worsens
The Russian ruble declined today as worsening relationships between Russia and Ukraine may lead to escalation of the conflict in Eastern regions of Ukraine, while the United States and the European Union threaten to implement additional sanctions against Russia. Ukrainian authorities were accusing Russia of sending troops to the Eastern regions of Ukraine as a help to rebels. Meanwhile, US and European leaders talked about another round of sanctions. The situation led to an increase of wheat prices as both Eastern […]
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August 292014
Euro Heads for Another Weekly Decline
Even though the euro is a little higher against some of its major counterparts, the 18-nation currency is headed for a weekly decline. The latest economic data confirms that rises in consumer prices continue to slow. For the seventh week in a row, the euro is set for a weekly decline. This run of declines is the longest in more that 10 years. The latest economic data, focusing on consumer prices, was released earlier today. It […]
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August 292014
EUR/USD Lacks Direction
EUR/USD lacked direction today as economic indicators released from both the United States and Europe were mixed. The currency pair demonstrates downside bias as of now because the most recent US reports were positive for the dollar. Personal income and spending came out worse than was expected. Income rose 0.2% in July, slower than the predicted growth of 0.3% and the June increase of 0.5%. Spending fell 0.1%, compared to the forecast increase […]
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August 292014
Yen Halts Rally as Economic Data Provides Mixed Picture
The Japanese yen attempted to extend its rally against the US dollar today but failed and retreated close to the opening level. The currency traded mostly sideways against other major counterparts. Today’s economic data provided a mixed picture of Japan’s economic performance, failing to give an edge to the yen. On one hand, Japan’s core Consumer Price Index rose 3.3 percent in July, and Tokyo core CPI advanced 2.7 percent in August, […]
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