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Day: January 7, 2015
January 72015
Brazilian Real Gains on Optimism About New Economic Team
The Brazilian real gained today on hopes that the new economic team appointed by President Dilma Rousseff will succeed in revitalizing economic growth in the South American country. Finance Minister Joaquim Levy, a member of the team, said that he may increase tax revenue to help in rebalancing the budget. The market show great confidence in the new team, improving the outlook for Brazil’s economy and bolstering the nation’s currency. Previously, the real was falling on concerns […]
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January 72015
Deflationary Pressure Makes Czech Koruna Weaker
The Czech koruna sank today due to concerns that deflationary pressure may lead to additional monetary easing from the nation’s central bank. The currency fell more than 1 percent against the US dollar. Vladimir Tomsik, Vice Governor of the Czech National Bank, talked about “strong deflationary pressures”, which “may have a negative impact on domestic real demand”. It looks like economic problems of the eurozone spilled over […]
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January 72015
US Dollar Continues to Strengthen
It’s all about the US dollar these days. The greenback continues to strengthen against major counterparts, and see gains as commodities drop and as expectations for the US economy continue to improve. Right now, the US dollar is up pretty much across the board against its major counterparts. There is very little to hinder dollar strength as the US economy is seen as picking up, and the Federal Reserve is expected to boost interest […]
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January 72015
Economic Data & FOMC Minutes Beneficial for Dollar
The dollar was strong today with the help of positive macroeconomic data and the hawkish minutes of the December policy meeting of the Federal Reserve. EUR/USD dropped to yet another multi-year low. ADP employment grew by 241k in December while analysts predicted the same rate of growth as the revised November’s 227k. (Event A on the chart.) Trade balance showed a deficit of $39.0 billion in November even though experts anticipated it to stay at the revised October’s level of $42.2 […]
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January 72015
Australian Dollar Mixed During Asian Trading
The Australian dollar was mixed during the Wednesday’s Asian trading session. The currency fell a little versus its US counterpart, was flat against the euro and jumped versus the Japanese yen. Economic data from Australia was mildly upbeat today. The seasonally adjusted Australian Industry Group Australian Performance of Services Index climbed from 43.8 in November to 47.5 in December. The reading below 50.0 still indicates contraction of the sector, but […]
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January 72015
Yen Retreats, Retains Support from Safe-Haven Demand
The Japanese yen retreated a bit today following yesterday’s rally. The currency remains relatively strong though thanks to wide-spread demand for safe currencies among Forex market participants. Safe-haven demand was driving the yen up previously and still remains a supportive factor for the currency. While it is usually news from Europe that make traders worried, yesterday’s economic data from the United States was not good as well, […]
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