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Day: October 14, 2014
October 142014
Australian Dollar Fails to Rally
The Australian dollar was trying to rally earlier during the current trading session but failed and retreated to trade below the opening level as of now. Economic data and comments from central bank’s officials were playing against the currency and contributed to the decline. The National Australia Bank reported that business confidence fell “in the face of a persistently soft operating environment for many firms”. Guy Debelle, Assistant Governor at the Reserve Bank of Australia, signaled that […]
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October 142014
Swedish Krona Drops as Deflation Worsens
The Swedish krona dropped today as data revealed that deflation worsened last month in Sweden, increasing probability of monetary easing from the nation’s central bank. The Statistics Sweden reported that the inflation rate fell 0.4 percent in September after declining 0.2 percent in August. The poor data sparked talks that the Riksbank will likely have to reduce interest rates close to zero. Many analysts speculate that the central bank […]
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October 142014
Loonie Gains Against European Counterparts
Better employment data released toward the end of last week is still helping the Canadian dollar in Forex trading today. Indeed, there are hopes that Canadian rates will start rising again. This hope is allowing the loonie to log gains against European currencies, even as it continues to struggle against the greenback. The latest employment data is providing a boost for the Canadian dollar. The latest numbers indicated that […]
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October 142014
Sterling Continues to Struggle Against Counterparts
UK pound continues to struggle against its major counterparts today, performing mostly lower across the board. Inflation data is a big part of the problem for the sterling today, with concerns about the economy starting to creep back in. Inflation data came in weaker than expected for the United Kingdom. The Office for National Statistics reports that CPI slowed to 1.2 per cent in September, dropping from the 1.5 per cent seen […]
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