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Day: January 14, 2015
January 142015
Oil Prices Continue Drag on Canadian Dollar
Oil prices continue to pull on the Canadian dollar today, bringing it down against the US dollar to a level not seen since 2009. Loonie is likely to continue to fall further, as long as the oil slide is in effect. For the Canadian dollar, almost the entire story right now is oil. Oil prices continue to slide, with crude dropping to less than $46 a barrel. The drop is bad for the Canadian economy, which […]
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January 142015
EUR/USD Recovers After New Multi-Year Low
EUR/USD fell initially following the better than expected (but still weak) reports on industrial productions from the eurozone today (Event A on the chart.) The direction of trading has changed to an uptrend in less than two hours. Probably, traders realized that poor recovery is still good and justifies some euro buying. US fundamentals were far from good and played their role in EUR/USD strength. Retail sales decreased by 0.9% […]
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