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Day: January 8, 2015
January 82015
No Stop for Dollar’s Rally
The US dollar continued its unstoppable rise for yet another session today. Economic reports, especially employment data, fueled optimism about the US economy and speculations about a close interest rate hike from the Federal Reserve. The dollar retained its strength, rallying to new highs against the euro and the Great Britain pound, as analysts predict that tomorrow’s non-farm payrolls will show substantial growth. Other employment reports supported […]
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January 82015
Pound Rallies After HPI Report & BoE Meeting
The Great Britain pound rallied today following a positive report about house prices and the monetary policy decision made by the Bank of England. The currency dropped to the lowest level since July 2013 against the US dollar intraday but bounced to the opening level as of now. The BoE decided to keep its monetary policy unchanged at today’s meeting. The central bank announced: The Bank of Englandâs Monetary Policy Committee at its meeting today voted to maintain […]
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January 82015
Australian Dollar Jumps, Supported by Economic Data
The Australian dollar jumped today as economic reports from Australia as well as from the United States were positive, improving the market sentiment and encouraging traders to take more risk. Australian building approvals rose 7.5 percent in November from October following the 11.5 percent growth in the previous reporting period. The actual reading was much better than forecasts that promised a 2.7 percent decrease. The Aussie rallied with the help of the data […]
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January 82015
Euro Continues to Drop on Future Expectations
Euro continues its downward slide against major currencies as future expectations weigh on the 19-nation currency. Concerns about the economy are paramount, and many expect the ECB to announce another round of easing at its next meeting. Forex traders are already preparing for another round of easing from the ECB policymakers. The next meeting is expected to bring more asset purchases in an attempt to bolster the flagging economy. German industrial orders fell […]
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January 82015
No Stop for Decline of EUR/USD
EUR/USD declined for yet another trading session today ahead of tomorrow’s nonfarm payrolls. Today’s employment data was positive as jobless claims dropped, albeit not as much as was expected. Initial jobless claims were at the seasonally adjusted rate of 294k last week. The value was above the predicted 291k but below the previous week’s 298k. (Event A on the chart.) Consumer credit rose $14.0 billion in November, trailing the forecast increase […]
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January 82015
Yen Drops for Second Session as Market Sentiment Improves
The Japanese yen dropped today, falling for the second day, as the market sentiment improved a bit due to positive economic data from the United States as well as because of the rally of stocks and crude oil. US inventories of crude oil shrank unexpectedly, leading to a rally of prices for the commodity. This, in turn, alleviated tensions among traders, driving equities higher. On top of that, US macroeconomic reports improved the market sentiment further. All in all, it […]
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January 82015
Dollar Continues March Up
The US dollar continued its march higher today. The currency gained for the fifth straight session against the Great Britain pound and for the sixth against the euro. Wednesday’s economic data from the United States were very good. Growing employment and falling trade deficit fueled speculations that the Federal Reserve will tighten its monetary policy in the near future. Talking about monetary policy, the Fed released minutes of its December policy […]
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