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Day: January 22, 2015
January 222015
Dollar Gains to Highest Since 2003 vs. Euro
The US dollar climbed to the highest level since 2003 against the euro today after the European Central Bank made a move, announcing an expansion of its asset purchase program. The currency also gained against other major counterparts. While initially it looked like the gains of US currency against the euro might be limited, the rally accelerated and the greenback jumped as much as 2.1 percent against the currency of the eurozone and touched the strongest rate […]
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January 222015
NZ Dollar Extends Decline for Third Session
The New Zealand dollar dipped to the lowest level since June 2012 against its US peer today despite positive domestic macroeconomic data. While the currency bounced against the greenback, it retained losses versus the Japanese yen. BusinessNZ Performance of Manufacturing Index climbed from 55.6 in November to 57.7 in December, demonstrating healthy growth of the sector by the end of the year. The data was not able to support the New Zealand dollar that […]
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January 222015
Brazilian Real Climbs as Central Bank Continues Monetary Tightening
Brazil’s central bank increased its key Selic rate at today’s monetary policy meeting. The decision was not unexpected by market participants, but the Brazilian real still demonstrated a rather big rally after the announcement. The Central Bank of Brazil announced an increase of its main interest rate by 50 basis points to 12.25 percent. It was the third straight interest rate hike. Analysts believe that the central bank may […]
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January 222015
Euro Down After ECB Announces Expansion of QE
The euro dipped today after the European Central Bank announced an expansion of its asset purchase program. The size of the expansion was a bit bigger than market participants have anticipated. As was expected, the ECB left interest rates unchanged at today’s policy meeting. Regarding quantitative easing, ECB President Mario Draghi announced the following decision of the Governing Council: It decided to launch an expanded asset purchase programme, encompassing the existing purchase […]
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January 222015
EUR/USD Weakest Since 2003 After ECB
Data from the United States was rather mixed both yesterday and today but it was not the main driver for the Forex market during the current trading session. The major event today was the monetary policy announcement from the European Central Bank. The ECB unveiled its expanded asset purchase plan, driving the euro down. (Event A on the chart.) While the drop of EUR/USD was not big at first, the currency pair quickly […]
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