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Day: September 17, 2014
September 172014
Dollar Consolidating Ahead of FOMC
The US dollar is consolidating right now, moving slightly lower ahead of today’s expected Federal Reserve announcement. For the most part, Forex traders are in wait and see mode, waiting to see what Fed Chair Janet Yellen has to say about US monetary policy. Many traders are interested to learn whether or not she will provide any new hints about when interest rates might rise. […]
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September 172014
Thai Baht Unable to Maintain Rally After Central Bank’s Decision
The Bank of Thailand decided to keep its main interest rate unchanged during today’s policy meeting. The Thai baht attempted to rally after the decision but failed and currently is trading below the opening level. The central bank stayed put, leaving the policy rate at 2 percent. While policy makers said in the statement that “global economy recovered at a moderate pace”, they had a mixed view on the domestic economy. As a result, the members […]
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September 172014
Aussie Unable to Profit from China’s Stimulus
The Australian dollar fell today with despite news from China that was supportive for the currency. Domestic fundamentals were not in favor of the Aussie and it is likely that poor economic data played a part in the currency’s decline. The People’s Bank of China injected CNY 500 billion of liquidity by providing money to five major state-owned banks. It was a surprise for traders and good news to growth-related currencies, but the Australian dollar […]
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September 172014
EUR/USD Sinks to New Lows After FOMC
EUR/USD dipped today to a new multi-year low after the Federal Open Market Committee released its monetary policy statement. Federal Reserve chief Janet Yellen was speaking at the press-conference after the meeting, and the Fed released its economic projections as well as plans for eventual normalization of monetary policy. The dollar was not particularly strong ahead of the meeting, especially after inflation data disappointed economists, but the currency rallied against its […]
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September 172014
NZ Dollar Reverses Gains as Current-Account Deficit Widens
The New Zealand dollar dipped, reversing yesterday’s rally, as a report released today revealed that the nation’s current account deficit widened last quarter. It was the first decline this week after two sessions of gains. New Zealand’s current account balance demonstrated a gap of NZ$2.0 billion in the June quarter, up from NZ$$1.4 billion in the March quarter. On an annual basis, the deficit shrank from 2.7 percent to 2.5 percent […]
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September 172014
Canadian Dollar Keeps Huge Gains
The Canadian dollar was little changed today following yesterday’s big jump. The rally was caused by both domestic fundamentals and developments on the global markets that were largely beneficial for the loonie. Canadian manufacturing sales jumped 2.5 percent in July to a new record. Bank of Canada Governor Stephen Poloz voiced hope for revival of exports, particularly energy products. As an echo of such outlook, prices for crude oil, the major Canada’s export commodity, […]
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