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Day: December 8, 2014
December 82014
Yen Bounces from Multi-Year Lows
The Japanese yen bounced from multi-year lows today as the nation’s current account demonstrated a surplus that was about two times as big as forecasters have predicted. The currency managed to rally even as Japan’s economy continued to decline. Japan’s current account had an excess of ¥0.95 trillion in October. This is compared to the median forecast of ¥0.46 trillion. Meanwhile, gross domestic product shrank 0.5 percent in the second quarter of 2014 after […]
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December 82014
Malaysian Ringgit Drops as US Jobs Growth Fuels Rate Hike Speculations
The Malaysian ringgit fell today, touching the lowest level since September 2009 against the US dollar, as the huge increase of US employment fueled speculations that the Federal Reserve will increase interest rates in the near future. The last week’s employment report from the United States reinvigorated talks about rate hike from the Fed, boosting the dollar. Meanwhile, the drop of prices for Brent crude oil hurt trading revenue for Malaysia, oil […]
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December 82014
Rand Falls as South Africa’s Current Account Misses Estimates
The South African rand dropped today, reaching the lowest level since 2008 against the US dollar, as the nation’s current-account deficit narrowed less than was predicted by analysts. The current-account gap shrank to 6 percent of gross domestic product in the third quarter of this year from 6.3 percent in the previous three months. Specialists have promised a decline to 5.8 percent. This week should be important for the rand as Fitch Ratings and Standard […]
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December 82014
Aussie Selloff Eases Even After Disappointing Forecasts
The Australian dollar was involved in a selloff last week, and it doesn’t appear that things are improving all that much as a new week begins. The Aussie is still just holding its own against major currencies, and the forecast doesn’t offer a whole lot in terms of encouragement for the Down Under currency. Australian dollar is struggling today, but the selloff easing as the situation continues to look disappointing for the Down Under economy. A surprise […]
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December 82014
UK Pound Gains Ground Against Major Counterparts
UK pound is gaining ground against its major counterparts today, thanks to improving data. Pound is doing especially well against the euro, thanks to better economic data and policy divergence. Sterling is mostly higher today, thanks in large part to recent economic data. Much of the recent data, from PMI to GDP, has been reasonably positive, especially when compared with what is happening in the eurozone. […]
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