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Day: September 9, 2014
September 92014
Indian Rupee Loses Value vs. Dollar
The Indian rupee declined today against the US dollar as speculations about potential monetary tightening from the Federal Reserve continues to support the greenback against other currencies, particularly riskier ones. While analysts had mixed expectations for potential performance of the dollar this week, the US currency is clearly acting in favor of bulls, at least for now. This means that riskier currencies of emerging markets remain under pressure. Some experts […]
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September 92014
Yuan Rises as PBoC Raises Fixing by Most Since 2010
The Chinese yuan gained today as the nation’s central bank raised its daily reference rate by the most in almost four years after yesterday’s positive trade data. The People’s Bank of China set the daily fixing 0.3 percent higher to 6.1520 per dollar, the biggest increase since November 2010 and the highest level in four weeks. The increase followed yesterday’s report that showed that the Chinese trade balance surplus widened. As exports […]
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September 92014
US Dollar Index Holds to Gains
US dollar index is holding on to some of its earlier gains, even though the greenback isn’t as high against its major counterparts as earlier. Most of the dollar’s strength is coming from other currencies’ weaknesses right now. The US dollar is trading mixed today, but the dollar index remains higher in general. Dollar index is getting a lot of help from the fact that the yen and the euro are both […]
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September 92014
Euro Moves Lower as ECB Members Praise Rate Cuts
Euro is mostly lower again today, dropping against its United States and United Kingdom counterparts, thanks to recent comments from ECB members. With rate cuts being supported as a way to stimulate the economy, the expectation of more easing is weighing on the euro. There is a lot of support for a weaker euro right now, and that is leading to Forex traders going along with the programme. Ewald Nowotny and Sabine Lautenschlager, […]
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September 92014
Yen Extends Drop After BoJ Minutes
The Japanese yen fell today after the Bank of Japan released minutes of its August meeting. The yen fell even against such currencies as the euro and the Great Britain pound, against which it was rallying last week. The minutes revealed that policy makers are still aiming at 2 percent inflation but they discussed necessity to watch various indicators to gauge underlying trend: Members expressed the recognition that, even […]
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September 92014
Aussie Retains Downward Bias
The Australian dollar maintained its downward bias at the Asian session today after economic data showed that the business confidence fell a bit and the number of home loans grew less than was expected by economists. National Australia Bank reported that the business confidence index was at 8 in August. While the reading itself was not bad, the August figure was below the July’s reading of 10. The report noted that “confidence […]
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