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Day: October 30, 2014
October 302014
Dollar Extends Rally on Positive GDP & Jobless Claims Data
The US dollar extended yesterday’s rally today as positive economic data from the United States fueled talks about a possibility of an early interest rate hike from the Federal Reserve. US gross domestic product expanded 3.5 percent in the third quarter of this year. While the growth was below the revised previous quarter’s 4.6 percent, it was still above economists’ expectations of 3.1 percent. The number of initial claims for unemployment […]
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October 302014
Swiss Franc Appreciates Ahead of Referendum
The Swiss franc erased its earlier losses against the US dollar and gained against the euro today. The Swissie was experiencing upward pressure recently on speculations that possible changes to central bank’s policies might lead to issues with keeping the currency-cap. A referendum will be held in Switzerland on November 30 regarding several changes to policies of the Swiss National Bank, among them a requirement to hold at least 20 percent of assets in gold. […]
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October 302014
Brazilian Real Jumps After Central Bank Surprises
The Brazilian real jumped today following yesterday’s surprise interest rate hike from Brazil’s central bank. Such decision resulted in speculations that additional rate increases may happen in the future. The Central Bank of Brazil made a huge surprise to market participants yesterday, raising its main interest rate by 25 basis points to 11.25 percent, while no change was expected. The decision was not unanimous as three voting […]
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October 302014
Data Helps Euro Pare Some of Its Losses
Euro is falling against its major counterparts today, but some of the losses are being pared, thanks to the latest data releases. Some of the regions of the eurozone are reporting progress, and that is reducing some of the difficulty with the euro. The latest data out of the eurozone, while not spectacular, at least shows some progress. Germany saw a drop in the number of people unemployed this month, even though the unemployment rate remains […]
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October 302014
Canadian Dollar Trades Mixed Against Major Counterparts
Canadian dollar is trading mixed today, thanks to the latest comments from central bankers. Information from the Federal Reserve, as well as testimony from the Bank of Canada’s Stephen Poloz, are contributing to the loonie’s losses to the US dollar. The Canadian dollar is moving lower today against the US dollar, but still has the upper hand against the euro. Loonie is heading lower against the greenback after the release of a statement from […]
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October 302014
EUR/USD Extends Bearish Trend After US GDP
EUR/USD extended yesterday’s losses today after the release of a better-than-expected report on US gross domestic product. The currency pair is attempting to bounce right now and trades not far from the opening level. GDP rose 3.5% in Q3 2014, according the advance estimate, exceeding the median forecast of 3.1%. The previous quarter’s increase was at 4.6%. (Event A on the chart.) Initial jobless claims were at 287k last week (seasonally adjusted), a small […]
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October 302014
NZD Sinks After Fed & RBNZ Policy Announcements
The New Zealand dollar, as well as other currencies, dropped against its US counterpart yesterday after the Federal Reserve ended the third round of quantitative easing. The outlook for a period of stable interest rates in New Zealand itself was not helping the currency either, resulting in further drop at the current trading session. As was expected, the Reserve Bank of New Zealand kept its main interest rate at 3.5 percent. The central bank mentioned […]
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