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Day: December 1, 2014
December 12014
Aussie Bounces from Multi-Year Low
The Australian dollar managed to bounce after the initial drop today. The currency rose even though fundamentals were not particularly supportive. The Aussie dropped to the new multi-year low against the US dollar previously. Growth of the manufacturing sector in China slowed last month, worsening prospects for Australian exports. The Asian country is the biggest trading partner of Australia. On top of that, the Swiss referendum hurt prices for gold. This added to the bearish momentum […]
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December 12014
Swiss Franc Higher After Referendum
The Swiss franc fell initially today after yesterday’s referendum resulted in no change to the central bank’s regulations. The currency gained ground right now, rising against its major peers, including the US dollar and the euro. Among topics for voting on the referendum was the legislation that would increase the minimum share of central bank’s reserves that should be allocated in gold. Experts speculated that such rule would make it […]
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December 12014
Loonie Finds a Little Support in Forex Trading
Canadian dollar is getting a little help today in currency trading on the FX market, thanks to better economic data. The embattled loonie is making some progress against some of its major counterparts, thanks to better GDP data and expectations of a good manufacturing report. However, these gains aren’t expected to last as oil prices continue to drop. The economic news out of Canada has been generally good for the last couple of days. […]
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December 12014
Manufacturing Data Helps UK Pound
Manufacturing data is providing a boost for the UK pound today. After seeing days of poor performance, the sterling is getting a little help from economic data. According to Markit, the UK manufacturing purchasing managers’ index moved higher for November. The index moved to 53.5 in November, gaining from 53.2 in October. It might seem like a small gain, but many analysts had expected a loss in the index, so any gain […]
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