Day: October 24, 2014

October 24
2014

S&P Reaffirms Russia’s Credit Rating, Ruble Higher

The Russian ruble gained today as Standard & Poor’s reaffirmed Russia’s sovereign credit rating, alleviating concerns about a potential reduction of the grade to junk. S&P maintained Russia’s credit grade at BBB-, one notch above the junk rating. The agency cited the following reason for such decision: We expect Russia will maintain a strong net external asset position and moderate net general government debt in 2014–2017. The announcement helped the ruble, […]

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October 24
2014

NZ Dollar Ignores Negative Trade Data

The New Zealand dollar advanced today even though the trade data from New Zealand was rather bad. Yet the kiwi managed to rise as a negative housing report from the United States drove traders away from the US dollar to other currencies. The New Zealand trade deficit expanded from NZ$0.5 billion to NZ$1.4 billion in September, much more than was expected by analysts. It is interesting to note that […]

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October 24
2014

Norwegian Krone Gains as Norges Bank Remains Passive

The Norwegian krone gained today following yesterday’s decision of Norway’s central bank to keep its benchmark interest rate unchanged. Such decision was widely expected by market analysts. Norges Bank announced yesterday that it is keeping its main interest rate at 1.5 percent. Governor Oeystein Olsen said in the statement: New information suggests that inflation and growth in the Norwegian economy are broadly in line with the September […]

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