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Day: December 10, 2014
December 102014
Australian Dollar Bounces Resisting Pressure from Fundamentals
The Australian dollar bounced today after initial drop even though not all economic reports from Australia were helpful for the currency. The bounce does not look impressive, though, compared to the recent streak of losses. The Westpac-Melbourne Institute Consumer Sentiment Index fell 5.7 percent in December. The report said: This is a very disturbing result. The Index is now at its lowest level since August 2011. As a piece of good […]
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December 102014
Yuan Gains Even as Inflation Slows
The Chinese yuan gained today even though macroeconomic indicators were negative for the currency. Consumer inflation slowed unexpectedly and producer prices continued to fall. The Consumer Price Index rose 1.6 percent in November from a year ago while analysts have expected inflation to stay at the previous month’s level of 1.4 percent. Consumer prices fell 0.2 percent month-on-month. The Producer Price Index dropped 2.7 percent last month from […]
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December 102014
UK Pound Gains Some Ground
It’s been a bit of a rough go for the UK pound recently, but the sterling is currently gaining some ground on the Forex market. While trading mixed today, sterling is a little higher against the euro and the US dollar. Recent economic data out of the United Kingdom has been disappointing, and that has been weighing on the pound recently. Manufacturing data recently missed expectations, and the Bank of England continues to stay the course. Indeed, […]
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December 102014
EUR/USD Climbs as Traders Flock to Yen
EUR/USD rose today even as concerns about China’s economic growth made Forex market participants seek safe currencies. Speculators were flocking to the Japanese yen, making the US dollar underperform. Сrude oil inventories increased by 1.5 million barrels and are above the upper limit of the average range for this time of year. This is compared to the predicted decline of 2.6 million and the previous week’s drop by 3.7 million. Total motor […]
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