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Day: November 18, 2014
November 182014
Yen Gains Ground After Initial Drop
The Japanese yen slipped against the majority of most-traded currencies today after a speech of Japanese Prime Minister Shinzo Abe. The currency managed to trim losses against some of its peers and to erase them completely against others. Abe announced early elections and said that the planned sales-tax increase will be postponed. The announcement followed yesterday’s data that showed recession of Japan’s economy. The yen sank after the Prime Minister’s speech, […]
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November 182014
Aussie Retreats to Opening Level After Rally
The Australian dollar rallied after the minutes of the latest central bank’s policy meeting but retreated later and now trades near the opening level. It is possible that the currency will fall even further. The Reserve Bank of Australia released the minutes of its November meeting today. The minutes said nothing particularly new, reiterating that the currency is too strong and a period of stable monetary policy is expected. The Aussie attempted […]
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November 182014
US Dollar Pulls Back, Consolidating After Recent Rally
US dollar is pulling back, consolidating after its recent rally. With Fed minutes due to be released tomorrow, and interest in what they will show high, many Forex traders are repositioning themselves. Greenback is lower almost across the board today as Forex traders take profits from the recent dollar rally, and as they consolidate their positions. The Federal Reserve will release the minutes of its latest […]
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November 182014
Loonie Trades Mixed, but Higher Against the US Dollar
Canadian dollar is trading mixed today, but is higher against the US dollar. With oil prices recovering a bit, and with the greenback pulling back a little after its recent run, the loonie is pressing its advantage. Loonie is getting a little help against the greenback today, thanks in part to oil prices. Oil is gaining today, moving up toward the $76 a barrel mark. Crude oil […]
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November 182014
EUR/USD Climbs on Positive Economic Sentiment
EUR/USD climbed today, erasing yesterday’s losses, as the economic sentiment for both Germany and the whole eurozone was surprisingly positive. (Event A on the chart.) It allowed the euro to gain on the dollar even though data from the United States also beat expectations. US PPI rose 0.2% in October while analysts have expected it to decline at the same 0.1% rate as in September. (Event B on the chart.) Net foreign purchases were at $164.3 billion […]
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November 182014
Euro Attempts to Recover During Early Trading
The euro is attempting to recover at the start of today’s trading session after sinking yesterday. The currency was soft during the previous session as comments from European policy makers pictured a pessimistic outlook for Europe’s economy. The Bundesbank said in its monthly report yesterday: The further deterioration in economic expectations and the stagnation of new orders point to a rather sluggish course of economic development in Germany until at least the end of 2014. European Central Bank President […]
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