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Day: January 30, 2015
January 302015
Aussie Mixed as Data Matches Expectations
The Australian dollar demonstrated mixed performance today as economic data from Australia matched analysts’ predictions. The Aussie was flat against the US dollar, rose versus the euro and fell against the Japanese yen. Australia’s Producer Price Index and private sector credit were in line with expectations, giving no edge to the Australian currency. The Reserve Bank of Australia will hold a policy meeting next week, and there are plenty of speculations […]
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January 302015
USD Down vs. JPY After Disappointing GDP, Strong vs. Other Majors
The US dollar went down against the Japanese yen today after a disappointing report about US economic growth. The currency was still able to gain on the euro and the Great Britain pound. The US economy grew just 2.6 percent in the fourth quarter of 2014 from a year ago, trailing the consensus analysts’ forecast of 3 percent. The growth was also slower than in the previous three months (5 percent). Not all news […]
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January 302015
New Lows for Canadian Dollar
The Canadian dollar sank to new multi-year lows against its US counterpart today due to negative economic data from Canada. While analysts expected poor performance from the Canadian economy, it fared even worse than forecasts. Canada’s gross domestic product fell 0.2 percent in November. The actual reading was even worse than the pessimistic forecast of a 0.1 percent decline. The report said that the economic slowdown […]
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January 302015
Bank of Russia Makes Surprise Interest Rate Cut, Ruble Sinks
The Russian ruble plunged today after the Bank of Russia made a surprise decision to cut its key interest rate. The cut was rather significant though not as big as the interest rate hike in December. The Russian central bank announced a reduction of its main interest rate from 17 percent to 15 percent. The bank explained its decision by “the shift in the balance of risks of accelerated consumer price growth and cooling economy”. The decision followed […]
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January 302015
EUR/USD Stable After US GDP Disappoints
EUR/USD was flat today as US gross domestic product expanded last quarter less than was expected by market participants. The euro was not able to gain on the dollar after the disappointing report as data from Europe itself was rather mixed. US GDP grew at the annual rate of 2.6% in Q4 2014, according to the advance (the first) estimate. The growth trailed analysts’ predictions of 3.0% and was below the previous quarter’s rate […]
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January 302015
Yen Stable Despite Poor Economic Data from Japan
The Japanese yen was stable at the early Friday’s trading even though macroeconomic reports from Japan were far from being good for the most part. The currency demonstrated losses against other majors during the previous trading session. The majority of Japan’s economic indicators were bad including the falling household spending and the slowing inflation. While industrial production expanded, the growth was smaller than economists predicted. The only really good […]
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