Euro is higher against its major counterparts right now, but it could fall later, thanks to a report indicating that the outlook for the eurozone is worse than expected, and that might prompt action from the European Central Bank. Growth projections for the eurozone continue to fall, but that isn’t weighing on the 18-nation currency right now. Euro is mostly higher today. That could change, though. A report […]
Read moreCanadian dollar is holding to gains made yesterday, following the announcement of positive employment news. Loonie is managing to hold its own a bit better now that oil prices seem to have stabilized somewhat, and with economic data remaining fairly positive. Loonie is a little bit higher against the US dollar today, maintaining some of its gains from yesterday. Additionally the Canadian dollar is higher than […]
Read moreToday’s performance of the New Zealand dollar was similar to that of its Australian counterpart. The currency fell at the start of the current trading session but bounced later and is trading above the opening level right now. The NZ dollar got help from domestic fundamentals. The BusinessNZ seasonally adjusted manufacturing Purchasing Managers’ Index rose from the revised level of 58.5 in September to 59.3 in October. The Food Price Index showed no change […]
Read moreThe Australian dollar dipped against its US counterpart and the Japanese yen at the start of today’s trading session but jumped after the gauge of inflation expectations rose. Melbourne Institute reported that the expected inflation rate rose to 4.1 percent in November from 3.4 percent in October. The data allowed the Aussie to reverse the earlier losses and rally. The currency kept gains even after China’s industrial production disappointed market participants, growing at the 7.7 […]
Read moreThe euro gained on the dollar today as economic data from the United States was rather disappointing. EUR/USD was consolidating this week, but most experts think that the currency pair remains in a downtrend from the longer-term point of view. Initial jobless claims rose from 278k to 290k last week, frustrating market participants who were counting on just a small increase to 282k. (Event A on the chart.) Crude oil inventories decreased […]
Read moreThe Japanese yen traded a little lower against the US dollar and the euro after the release of mixed data from Japan at the start of the current trading session. The currency is still under pressure from prospects for additional monetary stimulus but at the same time is supported by need for safety among investors. Japan’ machinery orders (excluding volatile ones) rose 2.9 percent in September while analysts have predicted a drop by 1.0 percent. […]
Read more