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Day: December 15, 2014
December 152014
Dollar Gains vs. Major, Unable to Beat Yen
The US dollar rallied against its major counterparts today as a positive industrial output report fueled speculations about an early interest rate hike from the Federal Reserve. The greenback was unable to outperform the yen. US industrial production grew 1.3 percent in November, exceeding analysts’ expectations. Moreover, the October’s reading was revised from a 0.1 percent drop to an increase by the same rate. The data reinforced the view that the Fed’s policy […]
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December 152014
Norwegian Krone Remains Weak After Interest Rate Cut
The Norwegian krone remained weak today after Friday’s decision of Norway’s central bank to reduce its key policy rate. The bank predicted that borrowing costs will remain unchanged for the next two years. The Norges Bank cut its main interest rate by 25 basis points to 1.25 percent. The central bank said in the statement that global economic growth “remains moderate.” As for the domestic economy, the bank mentioned the detrimental effect […]
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December 152014
Pound Drops as House Prices Demonstrate Record Drop
The Great Britain pound declined today as house prices demonstrated a record drop this month. The unfavorable data added to concerns that Britain’s economic recovery is struggling. The Rightmove House Price Index tumbled 3.3 percent in December. The drop, which followed the November’s 1.7 percent decline, was the biggest on the record. It fueled concerns that the UK economy is not in a particularly good shape and the Bank of England is not […]
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December 152014
Euro Mostly Lower Against Major Counterparts on Greece
Euro is mostly lower against its major counterparts today, thanks to expectations of future weakness, along with another drop in gold prices. One of the biggest reasons that euro weakness is becoming an issue again is the fact that there are rumblings in Greece. And, of course, it doesn’t help that risk appetite is once again becoming an issue. In Greece, the presidential election is being advanced […]
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December 152014
Yen Gains After Abe Wins Elections
The Japanese yen rose against other majors today, though the currency retraced its gains versus the US dollar as of now. The rally followed the victory of Japan’s Prime Minister Shinzo Abe in the snap elections over the weekend. Abe’s gamble to call a snap election has paid off as his party won the majority in the parliament. While the yen rallied after the news, analysts think that the outcome is negative for the Japanese currency in a long […]
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December 152014
Dollar Gains as Industrial Production Expands
The dollar gained on the euro today as US industrial production expanded, beating specialists’ estimates. The greenback rallied even though other reports were not particularly good. This week, the Federal Reserve will hold the last policy meeting for this year, which should be rather important for the US currency and the Forex market as a whole. NY Empire State Index demonstrated a sharp drop from 10.2 in November to -3.6 in December, frustrating […]
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