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Day: November 5, 2014
November 52014
Loonie Drops Against Greenback as Oil Prices Continue to Fall
Loonie is once again heading lower against the greenback, thanks in large part to oil prices. Even though the Canadian dollar is struggling against its US counterpart, though, it is gaining ground against European currencies. Concerns about what’s next in Europe, especially with sluggish Chinese data and policy statements coming tomorrow, are weighing on currencies across the pond. Canadian dollar is struggling as oil […]
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November 52014
US Dollar Surges Following US Midterm Elections
US dollar is surging right now, heading higher against its major counterparts, following the US midterm elections. Comparisons between the United States and its European counterparts are mostly about differences in economic directions, and many feel that the latest election results will mean fewer legislative restrictions for business, and that will boost the US economy. Greenback has already been showing strength, and now the currency is […]
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November 52014
EUR/USD Resumes Decline as US Employment Grows
EUR/USD resumed its decline today following yesterday’s gains. The dollar gained on the euro as US employment exceeded analysts’ expectations. The greenback retained strength even after the disappointing report about the service sector. ADP employment demonstrated growth by 230k in October compared to analysts’ projections of 214k. The previous month’s increase was revised from 213k to 225k. (Event A on the chart.) ISM services PMI fell from 58.6% in September to 57.1% in October, […]
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November 52014
Yen Drops After Kuroda’s Speech
The Japanese yen fell against almost all major currencies as comments of the central bank’s chief resulted in speculations that monetary easing will remain in place for a long time and additional monetary stimulus is possible. Bank of Japan Governor Haruhiko Kuroda was speaking in Tokyo today. He said in the speech that the central bank will keep quantitative and qualitative easing “as long as necessary” for reaching the 2 percent inflation target. Moreover, […]
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November 52014
NZD Rises After Employment Data, Loses Steam on Services Index
The New Zealand dollar climbed today with the help of very positive employment data that made New Zealand assets more attractive to investors. The currency lost its upward momentum (though stayed above the opening level) after a report that showed decline of the services sector. New Zealand employment grew 0.8 percent in the third quarter of 0.8, above the analysts’ projections of 0.6 percent. The unemployment rate fell by 0.2 percentage […]
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