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Day: February 3, 2015
February 32015
Greek Finance Minister Talks About Debt Swaps, Euro Rallies
The euro was trading broadly higher against other most-trading currencies today as concerns about the situation in Greece eased after the Greek government talked about a way it is going to handle its international debt. Greek Finance Minister Yanis Varoufakis proposed a plan according to which outstanding debt will be swapped for new growth-linked bonds. This will allow to avoid a debt writedown and reduce risk for creditors. The market […]
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February 32015
Plenty of Reasons for Canadian Dollar to Rally
The Canadian dollar gained against safe currencies, namely the US dollar and the Japanese yen, today. The currency also trimmed its losses versus the euro though remained below the opening level against the shared 19-nation currency. There were plenty of reasons for the Canadian dollar to rally. The most important of them was the rally of crude oil. Another one was the weakness of the US dollar after a stream of disappointing macroeconomic data from the United […]
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February 32015
Great Britain Pound Bounces as UK Construction PMI Rises
The Great Britain pound gained against the US dollar and erased previous losses versus the Japanese yen today. The currency gained ground after a report showed that growth of the UK construction sector accelerated last month unexpectedly. The Markit/CIPS UK Construction Purchasing Managersâ Index rose from 57.6 in December to 59.1 in January. It was a surprise considering that analysts promised a drop to 56.9. Unlike yesterday, the sterling is able […]
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February 32015
New Zealand Dollar Sinks After RBA Decision
The New Zealand dollar sank today after the surprise interest rate cut from the Reserve Bank of Australia. The announcement led to talks that the central bank of New Zealand may follow suit. The unexpected decision of the RBA made economists speculate about possible monetary easing from the Reserve Bank of New Zealand, which changed its tune to the dovish one. Traders watch will employment data that will be released […]
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February 32015
US Dollar Drops After Disappointing Data
Concerns that the United States might be seeing a slowdown in its economic growth are weighing on the greenback today. Recent economic data has been softer than expected, and that is bringing the dollar lower in Forex trading. On Friday, a report indicated that economic growth in the United States slowed to 2.6 per cent in the fourth quarter of 2014. This had already set the stage for a slightly lower greenback when yesterday’s […]
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February 32015
Aussie Tanks on RBA Cut
Australian dollar is heading much lower today, dropping across the board following a rate cut from the Reserve Bank of Australia. Concerns about economic growth are weighing on policymakers, and they feel that this is the best move they can make to help spur the economy forward. Monday night the Reserve Bank of Australia said that it is cutting its benchmark rate from 2.50 per cent […]
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