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Day: September 2, 2014

September 2
2014

Pound Sinks, Finds No Help from Construction PMI

The Great Britain pound sank to the lowest level since March against the US dollar today. The currency was also weak against other majors, even the Japanese yen, against which the sterling has rallied earlier. The UK currency slumped even as the Markit/CIPS UK Construction Purchasing Managers’ Index came out much better than was expected, climbing from 62.4 in July to 64.0 in August compared to the forecast drop to 61.5. […]

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September 2
2014

Fundamentals Play Against New Zealand Dollar

The New Zealand dollar sank today against its US counterpart, touching the lowest level since February, and fell against other major currencies as the market sentiment was not particularly favorable to currencies of emerging markets that are associated with risk. Geopolitical tensions in Eastern Europe, poor Monday’s economic data from China and prospects for monetary tightening in the United States — all these factors were driving the kiwi down. […]

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September 2
2014

QE Speculation Weighs on EUR/USD

Euro is mixed today, dropping against the US dollar, even as it gains against the UK pound and Japanese yen. One of the reasons that the euro is struggling against the dollar is the speculation that the ECB will have to implement quantitative easing. So far, efforts by the ECB to stimulate the (once again) flagging eurozone economy are falling short. The central bank has used negative deposit rates, and other methods […]

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September 2
2014

Could Ukrainian Troubles Help the Loonie?

Canadian dollar is trading mixed today, but there are some that feel that there is strength coming for the currency. Thanks to the Tim Horton’s deal, as well as the possibility of higher demand in Europe for energy from non-Russian sources, the loonie could see some improvements. Loonie is struggling a little bit today against some of its major counterparts. This comes after a bit of a boost recently, though. Recent […]

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September 2
2014

EUR/USD Drops to Record Low in a Year

EUR/USD fell to the lowest level in a year as today’s economic data from the United States was very good, supporting the outlook from monetary tightening from the Federal Reserve. ISM manufacturing PMI climbed to 59.0% in August, while analysts expected it to stay little changed from the July’s value of 57.1%. (Event A on the chart.) Construction spending grew 1.8% in July from June compared to the median forecast of 0.9%. The June’s change was […]

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September 2
2014

Aussie Keeps Losses After RBA Meeting

The Australian dollar fell against its US peer and the euro ahead of the monetary policy announcement of the Reserve Bank of Australia and maintained losses afterwards. The currency rallied to the highest level in a year and a half versus the Japanese yen but retreated as of now. The RBA kept its key interest rate unchanged at 2.5 percent today. While the central bank noted “improving business conditions and some recovery in household sentiment”, it also mentioned decline […]

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September 2
2014

Fed Policy Outlook Continues to Support US Dollar

The US dollar rose against almost all of its major counterparts today, touching the highest level since January versus the Japanese yen and reaching the strongest rate in a year against euro, as the monetary policy outlook continues to support the currency. The dollar demonstrated remarkable performance in August with help of speculations about eventual monetary tightening from the Federal Reserve. The greenback entered the new trading month with strong upward momentum and for now […]

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