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Day: October 15, 2014
October 152014
Franc Rallies, Rally Unlikely to Persist
The Swiss franc was rising together with the euro against the US dollar today. The Swissie gained on the shared 18-nation currency itself as well. It looks unlikely for the currency to maintain its rally for a long time, though, considering the policy outlook that most market analysts share. While the franc bottomed in the beginning of October and was rising since then, there is strong pressure on the currency to resume decline. The Swiss National Bank […]
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October 152014
Brazilian Real Retains Weakness Ahead of Election
The Brazilian real fell today as concerns about the outcome of the presidential elections deter investors from buying the currency, especially considering that the current geopolitical situation in the world does not encourage to buy riskier assets. Uncertainty about the outcome of the elections was driving the real down previously and continues to hurt the currency now. Currently, polls show that Aecio Neves has more votes than incumbent President Dilma Rousseff. Such […]
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October 152014
Dollar Builds on Gains Against European Currencies
Once again, expected policy divergence is taking its toll on European currencies. The US dollar is gaining ground today, with dollar index heading higher and greenback making gains against its high beta counterparts in Europe. With the latest economic news out of the the United Kingdom and Germany, the US dollar index is gaining ground. The news out of the United Kingdom is lower than expected inflation data. […]
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October 152014
Euro Mostly Lower as Germany Cuts Growth Forecast
Euro is losing ground against some of its counterparts as the latest economic data is released throughout the 18-nation currency zone. Even though Germany’s CPI reading met expectations, the country had to slash its growth forecast. The latest CPI data out of Germany indicates that inflation remains at 0.8 per cent month-to-month. This was an expected reading, so it’s not out of character and has little bearing […]
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October 152014
Poor US Data Helps EUR/USD to Gain
EUR/USD advanced today as the majority of US economic reports were bad. The currency pair lost some of its gains after few positive reports were released but still trades high above the opening level. PPI fell by 0.1% in September, while most market participants counted on an increase by the same rate. The index showed no change in August. (Event A on the chart.) Retail sales dropped 0.3% last month versus a 0.1% […]
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