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Day: October 22, 2014
October 222014
Swiss Policy Makers Still Think Franc is Overvalued
The Swiss franc fell along with the euro against the US dollar today as Swiss policy makers continue to talk about excessive strength of the currency and need to keep the ceiling on the franc. The Swissie managed to rise against the euro itself. Fritz Zurbruegg, member of the Swiss National Bank Governing Board, said yesterday: Thereâs no discussion, we will with utmost determination make sure that the minimum exchange rate is not […]
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October 222014
CAD Edges Higher After Bank of Canada Meeting
The Canadian dollar advanced today after the Bank of Canada left its monetary policy unchanged. The currency was soft previously as retail sales data was rather negative. The BoC left its main interest rate at 1 percent at today’s policy as was widely expected by analysts. The central bank said in the statement that the Canadian economy will not reach full capacity until 2016. Unlike the previous times, the bank did […]
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October 222014
UK Pound Slumps After BOE Minutes
Once again, the Bank of England is disappointing Forex traders, and that is leading to a lower pound today. With a rate hike nowhere in sight, there is little to help the sterling against its major counterparts. No one seriously expected the Bank of England to announce rate hikes anytime soon, but there were some hopes that the wording of the MPC minutes from the latest meeting would offer some hopeful […]
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October 222014
US Dollar Gains Ground on Risk Aversion
Risk aversion is back in the markets, and the US dollar is gaining ground as a result. The greenback is still considered one of the safest bets in the world, and with uncertainty all around, and choppy stock performances, it is no surprise that the greenback is preferred right now. There is a lot of uncertainty going around right now, and concerns about major economies. The news out of the eurozone and the United Kingdom continues to disappoint. […]
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October 222014
US CPI Makes EUR/USD Extend Decline
EUR/USD extended its decline today as US consumer prices rose last month unexpectedly. Speculations about potential expansion of quantitative easing from the European Central Bank also continued to hurt the currency pair. US CPI rose 0.1% in September (seasonally adjusted), while most analysts expected no change. The index was down 0.2% in the preceding month. Core CPI also rose 0.1%. (Event A on the chart.) Crude oil […]
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