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Day: December 19, 2014
December 192014
Euro Falls Despite Positive Data from Germany
The euro dipped on Friday, falling to a new multi-year low versus the US dollar, even though economic data from Germany was fairly positive. As the majority of most-traded currencies, the euro gained on the yen after the Bank of Japan maintained its exceptional monetary stimulus. The GfK German Consumer Climate rose from 8.7 to 9.0 in December. The report said: The development of consumer sentiment in Germany has been very robust in December, with the consumer […]
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December 192014
Canadian Dollar Drops as CPI Declines, Still Stronger than Yen
The Canadian dollar fell today as Canada’s consumer prices declined more than was expected. Still, the currency was able to outperform the euro and the Japanese yen. Canada’s Consumer Price Index fell 0.4 percent in November from the previous month (not seasonally adjusted) while experts predicted just a 0.2 percent decline. The core CPI declined 0.2 percent while forecasters predicted no drop. Retails sales showed no […]
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December 192014
Polish Zloty Falls on Concerns about Russia’s Troubles
The Polish zloty fell today on concerns that economic troubles in Russia may spread to other Eastern European countries. Yet analysts argue that the future does not necessarily looks bleak for the currency. While sanctions implemented by the United States and the European Union are hurting Russia’s economy, they also may have adverse impact on economies of European counties, especially in the Eastern parts of the region. Such worries drove the zloty down, […]
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December 192014
Yen Drops as BoJ Keeps Stimulus Unchanged
The Japanese yen dropped after the Bank of Japan decided to keep its unprecedented monetary stimulus at today’s policy meeting. The currency trimmed its losses later but still trades below the opening level. The Japanese central bank announced today: The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace of about 80 trillion yen. The yen fell after the announcement, driven […]
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December 192014
UK Pound Loses Ground After Confidence Report
After a good day yesterday, the UK pound is losing ground today. The latest consumer confidence report has been released and morale is down, brining the sterling down with it. Yesterday was a good day for the UK pound, with the latest retail sales data, including a robust Black Friday, driving gains. Positive data sent the sterling higher against the euro and the dollar. All of that is changed today, […]
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December 192014
EUR/USD Extends Losses
EUR/USD continued to decline following the Wednesday’s monetary policy statement from the Federal Reserve. Falling US unemployment claims supported the dollar while the sharp drop of manufacturing index did not affect the currency much. Initial jobless claims fell from 295k to 289k last week instead of rising to 297k last week. (Event A on the chart.) Philadelphia Fed manufacturing index sank from 40.8 in November to 24.5 in December, even lower […]
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December 192014
SNB Implements Negative Interest Rates, Franc Dips
The Swiss National Bank made a surprise move yesterday, implementing negative interest rates. The Swiss franc sank after the decision though trimmed its losses as of now. The SNB announced yesterday: The Swiss National Bank (SNB) is imposing an interest rate of â0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month Libor into negative territory. It is thus expanding the target range for the three-month Libor to â0.75% […]
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December 192014
SNB Implements Negative Interest Rates, Franc Dips
The Swiss National Bank made a surprise move yesterday, implementing negative interest rates. The Swiss franc sank after the decision though trimmed its losses as of now. The SNB announced yesterday: The Swiss National Bank (SNB) is imposing an interest rate of â0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month Libor into negative territory. It is thus expanding the target range for the three-month Libor to â0.75% […]
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