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Day: October 2, 2014
October 22014
Dollar Retains Losses, Attempts to Bounce
The US dollar was trading below opening level against some of its major counterparts today but managed to trim losses with help of positive outlook for the US labor market. The greenback retained gains versus the Great Britain pound. The major negative event for the dollar today was the European Central Bank meeting that resulted in no change to monetary policy. While the initial impact of this factor subsided a bit, it […]
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October 22014
ECB Provides No Surprises, Euro Higher
The euro advanced today, rising against the US dollar and the Great Britain pound, after the European Central Bank conducted its monthly policy meeting. The shared 18-nation currency also pared its previous losses versus the Japanese yen. One of two major events this week was the ECB monetary policy meeting. Forex market participants counted on no change to the policy from the central bank. As it turned out, they […]
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October 22014
UK Pound Unable to Keep Gains
The Great Britain pound attempted to rally today after a positive report about the construction sector but was unable to hold onto gains, falling to the lowest level in three weeks against the US dollar. The Markit/CIPS UK Construction Purchasing Managersâ Index rose a little from 64.0 in August to 64.2 in September instead of falling as was predicted by experts. Investors remained unconvinced by the positive data as most other economic indicators have been […]
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October 22014
Helpful Economic Data Leads to Gains of Aussie
The Australian dollar gained today with the help of upbeat economic data from Australia, though the currency is slowly losing its gains as of now. Still, currently the Aussie trades above the opening level. Australia’s trade balance deficit shrank by A$288 million to A$787 million in August from the previous month on a seasonally adjusted basis. Building approvals grew by 3 percent last month (also adjusted for seasonal factors), outpacing analysts’ […]
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October 22014
UK Pound Pulls Back After Earlier Gains
UK pound is heading lower right now, pulling back after earlier gains. Good economic data provided some support for the sterling, but now profit taking has taken its toll, and lower equities are weighing on the pound. The latest economic data out of the United Kingdom has been better than expected. Markit Construction PMI came in at 64.2, when many expected it to fall to 63.5. Not […]
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October 22014
Dollar Index Loses Ground
US dollar is mostly lower today against its major counterparts, and the dollar index is losing steam. Much of it has to do with consolidation and profit taking, however. The dollar is on a roll, and some analysts think the dollar rally still has plenty of life. Greenback is seeing some losses today, falling against the euro as well as the yen. US dollar is higher against the pound, though. But […]
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October 22014
EUR/USD Rallies After ECB, Struggles to Keep Gains
EUR/USD rallied today after the European Central Bank refrained from easing its monetary policy further, but the currency pair is on the verge of losing its gains even though data from the United States was not supportive for the dollar. Initial jobless claims fell from 295k to 287k last week instead of rising to 299k as was predicted by analysts. (Event A on the chart.) Factory orders fell 10.1% in August following […]
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