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Day: November 14, 2014
November 142014
Woes of Brazilian Real Continue
The Brazilian real continues to experience weakness. Today’s drop is a result of worse-than-expected macroeconomic data. Concerns about the government’s ability to tackle fiscal challenges, which the country is enduring, also played their role Brazil’s retail sales rose 0.5 percent in September from the same month a year ago, missing the median forecast of 0.7 percent. President Dilma Rousseff is going to appoint a new finance minister, and market participants […]
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November 142014
Traders See No Reasons to Buy Yen
The Japanese yen weakened today, trading near the lowest level for this year against the euro and reaching the weakest rate in more than seven years versus the US dollar. Traders have plenty of reasons to sell the yen and few to buy the currency. Prime Minister Shinzo Abe will speak at a press-conference next week, talking about the delay of the next sales tax hike. He may announce dissolution of the parliament. Meanwhile, Japanese stocks […]
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November 142014
Sterling Set to Close Much Lower on the Week
UK pound continues to struggle in currency trading, and this week looks to end on a low note. Even with signs that the economy could be improving, the sterling is still down against its major counterparts. One of the biggest stumbling blocks for the pound is the fact that it doesn’t look as though inflation is going to be an issue for the UK economy, and the Bank of England isn’t ready to raise rates anytime soon. […]
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November 142014
US Dollar Surges Higher Overnight
US dollar is heading higher, gaining ground in overnight trading and recovering after recent losses. The greenback is showing strength as other currencies, notably the pound and the yen, show weakness. There is not a lot to stop the US dollar right now, with uncertainties about geopolitical outcomes, and the fact that the US economy remains on the road to recovery, even as other economies fall behind. Greenback is higher almost across […]
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November 142014
US Economic Data Helps Dollar
Economic data from the United States was good today, helping the dollar to gain on the euro after yesterday’s drop. The greenback maintained the rally even though reports from the eurozone were good too. Retail sales increased 0.3% in October, a bit more than analysts have expected — 0.2%. Sales were down 0.3% in September. (Event A on the chart.) Both import and export prices fell in October. Import prices were down […]
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