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Day: October 10, 2014
October 102014
Brazilian Real Ends Session with Losses
The Brazilian real ended today’s session with losses due to concerns that a new president will not be able to form a strong enough government to tackle country’s economic problem. The general risk-negative market sentiment also did not play in favor of the currency. Incumbent President Dilma Rousseff contests for the seat with Minas Gerais Senator Aecio Neves in the second round of presidential elections. Current polls show that votes […]
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October 102014
Canadian Dollar Loses Steam After Initial Gains
The Canadian dollar advanced today with the help of an impressive employment report that beat analysts’ projections by a wide margin. The currency retained its gains against the euro but was unable to maintain the rally versus the the US dollar and yen and will likely close below the opening level against these currencies. Canada’s employment data, unlike Australia’s one, was really good, helping the loonie to log gains. Canadian employers added […]
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October 102014
Second Session of Losses for Aussie due to Economic Data
Poor economic data from Australia led to the second session of losses for the Australian dollar today. The currency attempted to gain ground but was unsuccessful so far, though it trimmed its losses. The number of home loans fell 0.9 percent in August from July when it rose 0.3 percent. Analysts counted on a 0.2 percent increase. Yesterday’s employment data from Australia was also totally devastating for the Aussie. […]
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October 102014
Economic Data Doesn’t Support Britain’s Pound
Economic news from the United Kingdom were good for the most part today, but it did not prevent the Great Britain pound from dropping and reaching the lowest level in a month against the Japanese yen. Britain’s trade deficit in goods shrank by £1.3 billion to £9.1 billion in August from July, more than was predicted by specialists. The Conference Board Leading Index rose 0.4 percent in August after increasing 0.2 […]
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October 102014
Dollar Surges on Risk Aversion
Even though the minutes from the latest Fed meeting indicate that some in the FOMC are concerned about what’s next, and how to deal with a stronger dollar during a global economic slowdown, the greenback is heading higher today. Risk aversion is high, and that is reflected in today’s gains by the dollar. Low beta currencies like the US dollar are gaining ground today as risk aversion floods the market. Stocks […]
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October 102014
Draghi Comments Bring Euro Down
Once again, Mario Draghi is a bit of a downer. His remarks yesterday at the Brookings Institution are dragging on the euro, since they indicate that the ECB is ready to double-down on stimulus measures likely to weigh on the 18-nation currency. Yesterday, ECB President Mario Draghi spoke at the Brookings Institution about what’s next for the euro and the eurozone. He is mentioned that the ECB remains committed to helping to stimulate the flagging eurozone economy, and that […]
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