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Day: October 28, 2014
October 282014
Ruble Drops on Free-Float Speculations
The Russian ruble dropped today on speculations that Russia’s central bank will abandon defense of the currency and allow it to float freely, and this most likely will lead to even bigger slump in the future. The Russian currency was under pressure from sanctions over the Ukrainian conflict and falling prices for crude oil. The Bank of Russia was trying to keep the exchange rate stable, spending a huge amount of its foreign-currency reserves, but […]
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October 282014
Riksbank Slashes Repo Rate to Zero, Krona Slumps
The Swedish krona dropped today after Sweden’s central bank decided to reduce its main repo rate to the absolute minimum in an effort to spur inflation that was below the bank’s target for a long time. Riksbank cut its benchmark interest rate by 25 basis points to zero at today’s meeting. The bank commented on the decision: The Swedish economy is relatively strong and economic activity is continuing to improve. But inflation is too […]
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October 282014
Loonie Gains a Bit Against Major Counterparts
Canadian dollar is heading a little bit higher today, gaining ground after weakening yesterday. A slight uptick in oil prices, along with better news in European and China, are helping the loonie a little bit. However, there are still challenges ahead for the Canadian dollar. Loonie is getting a reprieve today, after dropping yesterday. The Canadian dollar has been struggling recently, due largely to falling oil prices. […]
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October 282014
Poor Data from USA Pushes EUR/USD Further Up
EUR/USD extended its rally today as durable goods orders came out worse than was expected. Even positive manufacturing and consumer confidence reports were unable to bring the currency pair down. The Federal Reserve starts its two-day policy meeting today and will announce its decision tomorrow. The announcement may have tremendous impact on the dollar. Durable goods orders sank 1.3% in September instead of rising 0.4% as was […]
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