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Day: October 8, 2014
October 82014
Sterling Joins Rally After Fed Drives Dollar Lower
The Great Britain pound was falling earlier today as economic data from the United Kingdom was mixed, but the sterling joined the rally together with other currencies after the minutes of the Federal Reserve policy meeting led to the drop of the US dollar. The BRC-Nielsen Shop Price Index fell 1.8 percent in September from a year ago after declining 1.6 percent in August. Meanwhile, the Halifax House Price Index rose 0.6 […]
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October 82014
Dollar Retreats After Fed Minutes
The US dollar, which were rising earlier today, declined after the Federal Reserve released the minutes of its latest policy meeting, talking about the statement that interest rates will remain low for a “considerable time” and voicing concern about the strength of the greenback. The dollar demonstrated gains earlier during the current trading session but turned down after the Federal Open Market Committee released the minutes of its September meeting. The FOMC […]
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October 82014
Euro Struggles Against Fundamentals to Rally
While the euro was rising earlier today, the shared 18-nation currency has a hard time keeping its gains and was falling against the US dollar, though it trades near the opening level as of now. It is not surprising to see softness of the euro considering that fundamentals were playing against the currency of the eurozone. There were plenty of reasons for the euro to fall. The major one was yesterday’s growth outlook from […]
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October 82014
US Dollar Sees Broad Gains After Earlier Selloff
US dollar is in the midst of a recovery after yesterday’s selloff. Right now, greenback appears to be correcting by logging gains following excessive selling. However, even with the current gains, a little caution is in order as we wait for the release of the minutes from the latest FOMC meeting, since many of the dollar’s potential gains might already be priced in. Yesterday, there was a bit of a selloff in the US dollar. Today, though, […]
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October 82014
Yen Lower Despite Risk-Averse Environment
The Japanese yen declined today despite the prevailing risk-aversion on the Forex market after the International Monetary Fund lowered its growth forecast for the world economy. The yen was rising at the start of the current trading session as the IMF made small negative revisions for both this year’s and the next year’s growth. Yet the Japanese currency lost its gains and is now trading below the opening level. One of the possible reasons for such behavior is […]
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October 82014
EUR/USD Advances After FOMC Minutes
EUR/USD rose today after the Federal Open Market Committee released minutes of its September meeting, revealing that the appreciation of the dollar concerns US policy makers. The currency pair rose for the third consecutive trading session, a sign that led to speculations about an end to the euro’s decline. US crude oil inventories increased by 5.0 million barrels last week, beating analysts’ expectations of 2.1 million, and are in the upper half of the average […]
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