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Day: September 3, 2014
September 32014
Swedish Krona Rises, Ignoring QE Talks
The Swedish krona rose today despite speculations about possibility on quantitative easing from the nation’s central bank. The positive market sentiment was likely responsible for gains of the currency. The Riksbank surprised the Forex market in July, cutting its main interest rate by half a point to 0.25 percent. Data released since than showed that consumer inflation decelerated, falling from 0.2 percent to 0.04 percent. It suggests that the central […]
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September 32014
Bank of Canada Propels CAD Higher
The Canadian dollar jumped today after the Bank of Canada issued a rather optimistic statement following its monetary policy meeting. The currency reached the highest level since January against the Japanese yen. The BoC left its main interest rate at 1 percent today. Regarding the global economy, the central bank noted faltering recovery in the European Union, caused by the negative impact of the situation in Ukraine on confidence, but also mentioned signs of solid […]
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September 32014
Japanese Yen Mostly Lower After Services Data
Japanese yen is mostly lower today, following the release of the latest services PMI data. Additionally, expected changes to the government’s investment fund are expected in the coming weeks, and that is also having an impact. The latest Japanese services PMI data showed a drop to 49.9 in August. This is down from the July reading of 50.4. Even though composite PMI climbed, the concern about services PMI is still weighing […]
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September 32014
Dollar Pulls Back After Initial Gains
US dollar index is lower, and greenback is down against its counterparts, following earlier gains. After surging a bit earlier in the session, the US dollar is now losing ground, likely due in part to profit taking. Date out of the United States continues to tell the tale of an economic recovery. The latest manufacturing data showed activity at a high not seen for more than three years. Additionally, construction spending data […]
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