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Day: November 3, 2014
November 32014
Russian Ruble Plunged on Elections in Ukraine
The Russian ruble plunged today as elections in the eastern parts of Ukraine held by pro-Russian separatists threaten the fragile peace in the region and may lead to a new round of sanctions against Russia. Militants held elections in the Donetsk and Luhansk regions, worsening the already tense relationship between the Ukrainian government and rebels. Russia backed the elections, while Ukraine, the United States and the European Union did not accept them as legitimate. The event was considered to be very […]
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November 32014
AUD Drops vs. USD, Gains on JPY
The Australian dollar dropped against its US counterpart due to negative economic data from Australia. At the same time, the currency managed to reverse its losses versus the Japanese yen and reached the highest level in a year and a half. Australia’s seasonally adjusted building approvals dropped as much as 11.0 percent in September, more than ten times the predicted decrease by 0.9 percent. Additionally, China’s non-services Purchasing Managers’ Index declined last month, […]
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November 32014
Manufacturing Data Boosts UK Pound
UK pound is heading higher today, gaining ground thanks to the latest manufacturing data. Manufacturing data surprised to the upside, and the sterling is getting a boost because of the news. Many analysts expected manufacturing PMI for the United Kingdom to slip a bit, continuing the trend toward slower growth. However, October surprised everyone, with Markit reporting that manufacturing PMI had jumped to 53.2. This level is better than the expected […]
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November 32014
Eurozone Manufacturing PMI Disappoints, Sending Euro Lower
The latest reading for eurozone manufacturing PMI was a bit disappointing, underscoring the difficulties the eurozone continues to face in its economic recovery. On top of that, the news that the United Kingdom might leave the European Union is weighing, even though the United Kingdom isn’t part of the euro area. Manufacturing PMI for the eurozone, reports Markit, came in at 50.6 for October. This is below the initial estimate and the expectation, but still represents an improvement over […]
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November 32014
EUR/USD Dips to Lowest Since 2012
EUR/USD dropped today, touching the lowest level since August 2012, though the currency pair trimmed its losses as of now. Today’s data from the United States was mixed as manufacturing surprised positively, while construction spending was far worse than forecasts. ISM manufacturing PMI stood at 59.0% in October, while most analysts expected it to stay near the September level of 56.6%. (Event A on the chart.) Construction spending dipped […]
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