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Day: September 18, 2014
September 182014
Norges Bank Plans No Interest Rate Cuts, Krone Jumps
The Norwegian krone jumped after Norway’s central bank refrained from an interest rate cut at today’s policy meeting. What is more, bank’s chief Oeystein Olsen hinted at a possibility of an interest rate hike after 2015. The Norges Bank kept its key interest rate at 1.5 percent today. The statement dropped the mention of a possibility of a rate cut. In fact, Governor Olsen mentioned a likelihood of higher interest rates later in the future: […]
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September 182014
Swiss Franc Jumps as SNB Keeps Policy Unchanged
The Swiss National Bank refrained from loosening its already very accommodative monetary policy even further at today’s policy meeting, resulting in big gains for the Swiss franc. The currency rallied even though the central bank suggested that it may intervene in case economic conditions continue to deteriorate. The SNB decided to keep its monetary policy unchanged today. The tone of the statement was rather pessimistic as the central bank said: The economic […]
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September 182014
EUR/USD Bounces from Lowest Since July 2013
EUR/USD rebounded today following the drop to the lowest level since July 2013. Mixed US data played a part in the bounce of the currency pair, but it is likely that the most important reason for the rally was profit-taking after yesterday’s huge drop. Both housing starts and building permits fell in August. Housing starts were at the seasonally adjusted annual rate of 0.96 million, down from the revised reading of 1.12 million […]
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September 182014
New Zealand Economic Growth Lifts NZD
The New Zealand dollar advanced today with the help of a positive report about nation’s economic growth. The kiwi managed to reverse earlier losses and rally versus its US counterpart but is far from erasing yesterday’s huge drop. New Zealand gross domestic product expanded 0.7 percent in the second quarter of this year. While the growth was slower than the first quarter’s 1.0 percent, the actual value was […]
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September 182014
Dollar Rallies After Fed Meeting, Keeps Gains
The major event this week was the monetary policy meeting of the Federal Reserve that ended yesterday. While the Fed did not present clear timing for a start of monetary tightening and the tone of the statement was not much more hawkish than it has been before, the US dollar rallied nevertheless and continued to rise today. The Fed trimmed its bond-purchasing program by another $10 billion and central bank’s chief Janet Yellen […]
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