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Day: October 23, 2014
October 232014
Dollar Jumps vs. Yen with Help of Positive US Data
The US dollar jumped against the Japanese yen today on the back of positive economic reports from the United States. The currency also rose against the Great Britain pound and erased earlier losses versus the euro. Today’s US employment data was welcomed by dollar bulls. While initial jobless claims rose last week more than was expected, the four-week average fell to the lowest level since May 2000. Continuing claims […]
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October 232014
Brazilian Real Down to Five-Year Low
The Brazilian real dropped today, falling for the fourth consecutive trading session and reaching the lowest level in five years against the US dollar, as the outcome of the presidential elections remains uncertain. The date of the second round of the run for the presidential seat nears, and polls still show no clear winner. With the elections too close to call, it is expected that the real will continue to experience volatility. This made the Brazilian currency the worst performer […]
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October 232014
Ruble’s Woes Continue
Woes of the Russian ruble continue as the currency extended its drop today due to concerns that Standard & Poor’s may reduce Russia’s credit rating to junk, adding to incentive for investors to avoid Russian assets. S&P will make a decision about Russia’ credit rating tomorrow, and analysts are worried that it may reduce the grade. Currently, the rating stays at BBB-, just one notch above junk. Such concerns […]
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October 232014
Dollar Index Heads Lower After Bouncing Earlier
US dollar index is lower, even though the greenback is trading mixed today. The weighting of the euro in the dollar index’s basket of currencies means that the gains by the euro are weighing on the dollar index today. Even though the dollar is lower against the euro, it is still gaining ground against the UK pound and the Japanese yen. US dollar index is heading lower after bouncing higher off a resistance […]
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October 232014
Euro Gains on Manufacturing Data
The latest manufacturing data is in for the eurozone, and it’s more positive than expected. As a result, the euro is gaining ground against many of its counterparts. This might the news that the 18-nation currency region has been waiting for, since it signals that maybe another recession isn’t inevitable after all. Today, a release of a Purchasing Managers’ Index for the eurozone shows that the situation has improved. PMI rose to 50.7 […]
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October 232014
EUR/USD Loses Gains After US Economic Releases
EUR/USD attempted to rally at the current trading session but lost gains after the release of economic data from the United States. While initial jobless claims rose more than was expected, both the four-week moving average and continuing claims fell to the lowest level in 14 years. Leading indicators were also positive, adding to the factors that allowed the dollar to regain strength. Initial jobless claims rose from 266k to 283k […]
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October 232014
Aussie Edges Lower Despite Positive Data
The Australian dollar edged lower today even as economic indicators from Australia and abroad were supportive for the currency. Yesterday’s positive economic data from the United States made traders to prefer the US currency over riskier ones. National Australia Bank reported that business confidence remained unchanged in the third quarter of 2014. The HSBC Flash China Manufacturing Purchasing Managersâ Index rose a little in October, reaching the highest level in three […]
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October 232014
NZ Dollar Dips as Inflation Misses Analysts’ Projections
The New Zealand dollar dipped today after a report showed that consumer price inflation stayed unchanged last quarter, while analysts expected it to accelerate. The currency is consolidating as of now after the initial drop. The Consumer Price Index rose 0.3 percent in the September quarter of this year, at the same rate as in the previous quarter. Specialists predicted an increase by 0.5 percent. The major contributors to the price growth were housing and household utilities, […]
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