Day: January 23, 2015

January 23
2015

Brazilian Real Heads to Weekly Gains Despite Daily Losses

The Brazilian real fell today but was still heading to a weekly gain. The currency rallied after the nation’s central bank bolstered its interest rates, making the currency more attractive for investors, particularly carry traders. Brazil is the largest economy in Latin America, and this makes it appealing for traders. The high interest rates mean that carry traders should be particularly interested in the Brazilian market due to its high […]

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January 23
2015

GBP Highest Since 2008 vs. EUR, Weakest Since 2013 vs. USD

The euro jumped to the highest level since February 2008 against the euro today with the help of surprisingly good retail sales in the United Kingdom as well as yesterday’s monetary policy announcement from the European Central Bank. At the same time, the sterling dropped to the lowest level since July 2013 versus the US dollar. UK retail sales rose 0.4 percent in December, month-on-month, following the 1.6 percent increase in the previous reporting period. It […]

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January 23
2015

Loonie Remains Down Against Greenback

Loonie continues to fall against the greenback, even though oil is a little bit higher today. The Canadian dollar is doing better against European currencies, though. Canadian dollar continues to struggle in Forex trading as oil prices fight to stabilize. Saudi Arabia’s King Abdullah recently passed away, with the succession moving to his half brother, King Salman. The new king, and the new crown prince, are 79 and 69, respectively. […]

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January 23
2015

Euro Continues to Feel Pressure from ECB

EUR/USD extended yesterday’s drop today, falling to the lowest level since September 2003, as the euro continues to feel pressure from the yesterday’s drop of the European Central Bank. While the currency pair trimmed its losses as of now, it still trades below the opening level. Existing home sales rose to the seasonally adjusted annual rate of 5.04 million in December from the downwardly revised 4.92 million in November. The median forecast promised an increase […]

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