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Day: November 20, 2014
November 202014
US Dollar Mixed, Touches New Multi-Year High vs. Yen
The US dollar was mixed today despite fairly supportive economic reports from the United States. Still, the currency managed to reach new multi-year high versus the Japanese yen before pulling back closer to the opening level. With inflation above analysts’ projections and unexpectedly good manufacturing data from the Philadelphia Fed, one might assume that the dollar would outperform its peers. Yet it was not so. […]
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November 202014
Aussie Shows Resilience in Face of Bad Data
The Australian dollar fell earlier today as economic data from around the world suggested that global growth is losing steam. Yet the currency demonstrated resilience and bounced back to the opening level as of now. Economic news from China and Europe was rather negative, leading to decline of growth-related currencies, including the Aussie. Yet the Australian currency managed to regain its footing in face of negative fundamentals. Australia’s dollar was consolidating lately, […]
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November 202014
Eurozone PMI Data Sends Euro Lower
The latest PMI data out of the eurozone is weighing on the euro today. A reading that moved unexpectedly lower is weighing on the 18-nation currency as Forex traders contemplate continued slowed growth, even with the ECB’s efforts to boost the economy. Many analysts, economists, and Forex traders expected to see an improvement in eurozone PMI today, but were disappointed when the actual numbers came out. Rather than moving higher, up to 52.3, […]
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November 202014
Yuan Weakens as Manufacturing PMI Falls
The Chinese yuan weakened today as a private indicator of nation’s manufacturing fell more than was anticipated. The gauge was at the neutral no-growth level. The HSBC Flash China Manufacturing Purchasing Managersâ Index fell from 50.4 in October to 50.0 in November. It was the lowest level in six months. Analysts predicted a reading in the neighborhood of 50.0. A reading above 50.0 indicates growth, below indicates decline. USD/CNY rose 0.08 percent to 6.1261 […]
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November 202014
EUR/USD Doesn’t Move Far Today
EUR/USD was down today, but the drop was small as movement of the currency pair was contained in a tight range. The euro held ground against the dollar even though economic data from the United States was good for the most part while PMI figures from Europe were weaker than market participants have anticipated. US CPI was unchanged in October after rising 0.1% in September. Experts predicted 0.1% […]
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