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Day: October 16, 2014
October 162014
Peso Retreats as Chilean Central Bank Cuts Interest Rate
The Chilean peso fell against the US dollar today as the nation’s central bank reduced its key monetary policy interest rate yesterday for the fourth consecutive time. The Central Bank of Chile announced an interest rate cut by 25 basis to 3 percent. Such decision was expected by most analysts. The central bank was talking in the statement about slowing global growth, falling commodity prices (most notably in the energy sector) and accommodative […]
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October 162014
Dollar Rallies with Help of Impressive Economic Data
The US dollar rallied today with the help of very impressive economic data from the United States. It is a stark contrast to the yesterday’s trading session, which ended with huge losses for the US currency due to bad economic indicators. At the same time, the Great Britain pound was able to outperform the greenback. The vast majority of economic indicators from the USA were good, and even those, which fell from a previous reporting […]
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October 162014
South Korean Won Retreats from Two-Week High
The South Korean won fell against the US dollar, following the rally to the two-week high, as the market sentiment was risk-negative and data from the United States boosted the greenback. While the US currency demonstrated big losses yesterday, it was rising today thanks to risk aversion among Forex traders. Market participants were expressing pessimism due to signs of global economic slowdown and were reluctant to purchase risky currencies of emerging markets. […]
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October 162014
NZ Dollar Loses Ground Despite Supportive Data
The New Zealand dollar fell today even though economic data from the South Pacific nation was rather positive, yet it was not enough to halt the long-term downtrend of the currency. The BNZ-BusinessNZ seasonally adjusted Purchasing Managers’ Index rose by 1.1 points to 58.1 in September. The reading was close to the highest in the year. Yet the New Zealand currency was falling despite the report as the market sentiment is unfavorable to the kiwi. The negative […]
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October 162014
Euro Falls Back After Rally
Euro is falling back now, falling a rally that took place yesterday and in earlier trading. Euro surged higher, especially against the US dollar and the Japanese yen, earlier, but now things are changing. Concerns about risk are back on the table, and lower commodity prices are having their impact. Euro got a boost earlier, thanks to US economic data that disappointed. High beta currencies surged […]
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October 162014
Oil Weighs Heavily on Canadian Dollar
Canadian dollar continues to struggle, thanks in large part to falling oil prices and stock prices. The loonie reached a five year low against the greenback earlier, and it appears that the struggle is likely to continue. Oil prices have been losing steam recently, and crude oil is seeing its lowest level in quite some time. Currencies that rely on oil prices, like the Canadian dollar, are hard hit […]
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October 162014
EUR/USD Drops on US Data, Attempts to Regain Strength
EUR/USD sank today, following yesterday’s big jump, as all today’s economic reports from the United States were far better than even most optimistic expectations. Yet the currency pair managed to shed most of its losses and is trading not that far from the opening level as of now. Initial jobless claims dropped to 264k last week, the lowest level since April 15, 2000. This surprised analysts […]
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October 162014
Aussie Losses Steam Following Yesterday’s Rally
The Australian dollar was retreating against its US counterpart today following yesterday’s huge jump. The currency also fell against other major peers even though Australia’s economic data was rather positive. Basically, all data from Australia was good. The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.9 percent in October after falling in September. New motor vehicle sales advanced 2.9 percent […]
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October 162014
Dollar Attempts to Recover After Huge Crash
The US dollar ticked up a little today in an attempt to recover from yesterday’s big crash. Unfavorable economic data and the resulting monetary policy outlook remain detrimental to the US currency and may cause another thrust to the downside. The vast majority of yesterday’s economic reports from the United States were rather negative. The biggest surprise for market participants was the huge drop of the New York manufacturing index. Another report revealed that producer […]
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