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Day: February 2, 2015
February 22015
Sterling Unable to Keep Gains
The Great Britain pound attempted to rally today as the manufacturing Purchasing Managers’ Index rose but the currency was unable to hold onto gains and retreated below the opening level as of now. The Markit/CIPS UK Manufacturing PMI ticked up from 52.7 in December to 53.0 in January, a bit higher than analysts expected. The sterling climbed to 177.69 against the Japanese yen after the report but was unable to maintain the rally. The sterling was in a consolidation […]
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February 22015
Yuan Declines as China’s Manufacturing Contracts
The Chinese yuan ticked down today after the nation’s manufacturing sector contracted unexpectedly last month, leading to speculations about monetary easing from the China’s central bank. China’s manufacturing Purchasing Managers’ Index fell from 50.1 in December to 49.8 in January. A reading below 50.0 indicates contraction of the sector, and it was the first decline in more than two years. The services PMI declined as well though stayed in the expansionary zone. […]
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February 22015
Euro Holds Its Own After PMI Data
Euro is holding its own against major counterparts right now, following the latest PMI data. The 19-country currency region showed some improvement in factory activity, and the euro is managing to gain ground today, even as worries about Greece continue to draw headlines. The eurozone PMI came in at a six month high for January, giving a reading of 51.0. A reading of 50 indicates the line between expansion (above) and contraction (below), so […]
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February 22015
Dollar Loses Ground to Euro After Disappointing US Data
EUR/USD edged higher during the first trading day of this week as the majority of US macroeconomic reports missed expectations. This led to concerns that nonfarm payrolls released this week will be not as good as analysts predict. Personal income rose 0.3% in December while personal spending fell at the same rate. This is compared to the forecasts of a 0.2% increase and a 0.1% drop respectively. The growth of both income and spending was […]
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February 22015
Other Pegs to Follow Franc’s Example in 2015?
Not many traders believed that the Swiss franc’s peg may end in such an abrupt manner as it really did. It was a huge surprise to the markets, and it has raised some questions about the possibility of other currencies unpegging. Technically, franc’s appreciation cap against the euro was not a peg, but rather a minimum level for EUR/CHF pair, but nevertheless, it was still called peg by many analysts. […]
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