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Day: October 21, 2014
October 212014
Brazilian Real Retains Weakness During Election Week
The Brazilian real fell today due to uncertainty about the outcome of the presidential elections that are scheduled to October 26. Current polls show that the incumbent President Dilma Rousseff has more voters, and this is not welcomed by investors. According to the latest surveys, Rousseff has 46 percent of votes and her opponent Aecio Neves has 43 percent. Most traders are not happy with prospects for victory of the current […]
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October 212014
NZ Dollar Extends Bounce from October’s Lows
The New Zealand dollar rose today, getting help from positive economic reports from China. While the currency slowed its rise as of now, it still trades above the opening level, extending its bounce from fresh lows that the currency has reached earlier this month. The New Zealand currency, together with its Australian peer, profited from China’s economic data. While not all indicators […]
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October 212014
Euro Drops as ECB Buys Covered Bonds
Yesterday, the ECB announced that it is buying covered bonds as part of a plan to try to keep the eurozone economy from sliding back into recession. This announcement is weakening the euro, and the 18-nation currency is down against its major counterparts. Mario Draghi, the President of the European Central Bank, has said on many occasions that policymakers are willing to take drastic steps in the name of economic support for the eurozone. Those […]
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October 212014
Prospects for Bigger Stimulus from ECB Hurt EUR/USD
EUR/USD turned down today, erasing Friday’s gains, on signs that the European Central Bank may expand its already considerable stimulus measures as Europe’s economy continues to struggle. Additionally, slowing economic growth in China led to mild risk aversion on the Forex market. All these factors made investors prefer the dollar over the euro. Existing home sales rose at the seasonally adjusted annual rate of 5.17 million in September. The actual […]
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October 212014
China’s Data Makes Aussie Stronger
The Australian dollar advanced against its US counterpart for the third straight session today and rose against other most-traded currencies as well with the help of positive economic data from China. The Aussie was unable to maintain its rally versus the Japanese yen but kept rising against the greenback and the euro. Today, the National Bureau of Statistics of China released a report containing several important economic indicators. The most important of them was […]
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October 212014
CAD Turns Down, Positive Data Doesn’t Help
The Canadian dollar started the week with losses against some of its major peers, including the euro and the Japanese yen, and continued to fall today. Monday’s economic data was positive, but it did not help the currency. The Canadian currency was falling last week, but has been supported by a positive inflation report by the weekend. The current week started with a release of another positive indicator, but this time favorable […]
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