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Day: December 16, 2014
December 162014
Loonie’s Struggles Continue as Oil Continues to Fall
Canadian dollar continues to struggle in Forex trading, thanks in large part to falling oil prices. There doesn’t seem to be a bottom to the oil collapse, and the loonie is most lower against its major counterparts as a result of the oil weakness. There isn’t much to support the Canadian dollar in currency trading right now. The Bank of Canada isn’t expected to raise rates anytime particularly soon, and oil prices are dragging on the economy and the loonie. Oil […]
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December 162014
Australian Dollar Mixed After RBA Minutes
Today, the Australian dollar rose against its US counterpart after reaching the new multi-year low earlier but fell versus the Japanese yen. The minutes of the central bank’s December policy meeting gave mixed signals to the markets. The Reserve Bank of Australia reiterated in its minutes that “the most prudent course was likely to be a period of stability in interest rates.” Yet policy makers also discussed speculations about possible interest […]
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December 162014
Russian Ruble Unable to Keep Record Gains
Russia’s central bank made a surprise massive interest rate hike today in an attempt to support the currency and tame accelerating inflation. While the Russian ruble surged on the news initially, it was unable to keep gains and fell. Yet as of now, the ruble managed to return above the opening level The Bank of Russia announced a substantial increase of its key interest rate by as much as 650 basis points to 17 percent. The central bank said in the statement: […]
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December 162014
12 Reasons for the Russian Ruble Collapse
The Russian ruble has made it to the new all-time low against the US dollar and the euro today and demonstrated the biggest one-day fall in its history. USD/RUB has reached as high as 77.87 (at Bid price) after closing at 65.34 yesterday and trading as low as 32.63 in January this year. EUR/RUB has rallied above 100 (at Ask price) before retracing back to 84.96. There is a multitude of factors that influenced the Russian currency […]
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December 162014
Dollar Forecast: FOMC in Focus
The US dollar was demonstrating an incredible performance recently, rallying to multi-year highs against many of its most-traded peers. Yet the rally stalled as of now, making traders question what the future holds for the currency. The major event for the dollar (and the whole Forex market) this week will be the policy meeting of the Federal Open Market Committee. The event is important not only because it will be the last policy decision this […]
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