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Day: September 16, 2014
September 162014
Brazilian Real Strengthens Ahead of Election Month
The Brazilian real rose today as investors wait for an outcome of the presidential elections that will occur next month and a monetary policy decision of the Federal Reserve that will be announced tomorrow. According to polls, the current president Dilma Rousseff and opposition candidate Marina Silva have roughly the same amount of votes. The resulting political uncertainty could have resulted in excessive volatility for the real if not for the fact that traders are reluctant […]
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September 162014
Russian Ruble Drops to Record Lows on Sanction Fears
The Russian ruble dropped to all-time lows today due to concerns about potential impact of sanctions from the United States and the European Union on Russia’s economy. The Bank of Russia left its interest rates unchanged at its meeting last week even though inflation spiked as the currency crashed. The central bank said that monetary tightening is unlikely in the future even though the sanctions will have “a prolonged impact” on the economy. Still, there […]
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September 162014
Euro Mostly Steady Following ZEW
Euro remains mostly steady following the latest ZEW report. Even though the ZEW showed a drop, the 18-nation currency didn’t follow suit. For now, it looks as though Forex traders are settling in to the current state of things. The latest reading of the German ZEW showed a drop to 6.9 this month, from 8.6 last month. The drop, according to analysts, is due in large part to concerns about Russia. The European Union has […]
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September 162014
Pound Continues to Struggle as Independence Vote Looms
The vote on Scottish independence is coming up on Thursday, and the pound continues to struggle on uncertainty surrounding the outcome of the vote, as well as speculation about what might happen if the Scots really do vote to split off from the United Kingdom. On September 18, the residents of Scotland will head to the polls to determine whether or not they want to remain part of the United Kingdom. The United Kingdom has been existence for more than 300 years, […]
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September 162014
EUR/USD Edges Higher as FOMC Meeting Starts
EUR/USD edged higher today as market participants speculated that the Federal Reserve’s statement will not be as hawkish as was previously thought and the Fed will not drop the pledge to keep interest rates low for a “considerable time”. The Federal Open Market Committee starts its policy meeting today and will announce its decision tomorrow. The currency pair retreated after the initial surge but remained above the opening level. PPI […]
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September 162014
Aussie Extends Rally After RBA Minutes
The Australian dollar advanced today, rising for the second trading session, after the release of central bank’s policy minutes. The currency managed to bounce to Friday’s closing level against the US dollar and the euro after opening sharply lower on Monday but struggled to rise against the Japanese yen. The minutes revealed a mixed picture of Australia’s economic performance, saying that “exports had declined” and “labour market conditions had remained subdued” but mentioning […]
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September 162014
Dollar Backs Off After Mixed Data
The US dollar backed off today against its major peers, but the losses for the most part were not as big as yesterday’s gains. As an exception, the greenback closed flat versus the Japanese yen on Monday and sank today. Monday’s data from the United States was mixed, and it perhaps played a role in the halt of the dollar’s rally. While the Empire State Manufacturing Survey was very good, saying that “business activity expanded […]
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