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Day: November 4, 2014
November 42014
Euro Pares Gains as European Union Revises Outlook
Euro is mostly higher today, but the 18-nation currency is paring some of its gains. The latest growth outlook from the European Union has been revised lower, and that is weighing a bit on the euro, and causing it to give up some of its earlier gains. Earlier, the euro saw some solid gains against its major counterparts as the US dollar pulled back and as the outlook for the world in general improved a bit. […]
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November 42014
US Dollar Falls Back, Consolidating Against Major Currencies
US dollar is a little big lower today, falling back after rallying earlier. Right now, the greenback is consolidating, and Forex traders are taking profits. However, there is a good chance that the US dollar will remain relatively strong overall. After its last policy meeting, Federal Reserve officials indicated that they may raise interest rates sooner than expected if the job […]
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November 42014
Won Drops vs. Dollar, Domestic Fundamentals Remain Supportive
The South Korean won dipped today against the dollar as the US currency was propelled higher by positive economic data from the United States. Reports from South Korea itself were not bad either and may yet provide support for the won. The greenback rallied after the manufacturing index from Institute for Supply Management climbed to the highest level since March 2011. As for data from South Korea, the trade balance surplus rose […]
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November 42014
NZ Dollar Finds Strength in Spite of Economic Data
The New Zealand edged higher against its US peer and erased earlier losses versus the Japanese yen today even though economic data from New Zealand was not particularly good for the currency. The ANZ Commodity Price Index declined 0.8 percent in October, demonstrating the eighth consecutive monthly drop. The report commented on the NZ dollar’s performance last month: The value of the New Zealand dollar fell 2.1% on a TWI basis […]
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November 42014
Dollar Pauses Rally vs. Euro
The US dollar halted its rally against the euro today as reports from the United States were not as good as specialists have anticipated. With growing trade deficit and falling factory orders, the US economy looks not as robust as it was previously considered by economists. US trade balance posted a deficit of $43.0 billion in September, up from $40.0 billion in August. Most analysts thought that the deficit would be […]
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November 42014
Aussie Bounces After RBA Meeting
The Australian dollar was falling today due to mixed macroeconomic data but rebounded after the central bank’s policy meeting, even though monetary policy remained unchanged and the statement from the bank was not particularly hawkish. The Reserve Bank of Australia left its main interest rate at 2.5 percent today. The central bank noted in the accompanying statement after the decision that economic data demonstrates “moderate growth in the economy” but […]
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November 42014
Crude Oil Prices and Passiveness of Central Bank Hurt CAD
The Canadian dollar bounced against its US peer today following yesterday’s losses but extended decline against the euro and turned down versus the Japanese yen. Falling prices for crude oil and speculations that the Bank of Canada will not hike interest rates anytime soon were among the reasons for the currency’s weakness. Saudi Arabia cut prices of crude oil for US buyers to increase competitiveness of its exports. This led […]
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