Day: February 23, 2015

February 23
2015

Euro Drops as German Business Confidence Misses Estimates

The euro declined today against other most-traded currencies after the German business climate missed projections, reigniting concerns about the financial stability of the eurozone. The Ifo Business Climate Index for Germany rose from 106.7 to 106.8 points in February. While the reading itself was not bad, it was not as good as economists have hoped for (107.4). This led to the drop of the euro against other majors, Japanese yen being one […]

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February 23
2015

Japanese Yen Stable After Bank of Japan Minutes

The Japanese yen was stable today after the release of the Bank of Japan monetary policy minutes. At the same time, the yen rallied together with other currencies against the euro. The Bank of Japan released minutes of its January meeting today. The minutes showed that some policy members questioned the necessity of the current asset purchase program: Some members — noting that interest rates had recently been declining further under […]

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February 23
2015

EUR/USD Drops After German Data, Trims Losses After US Report

EUR/USD tumbled today after the German business climate report came out worse than market participants have anticipated. (Event A on the chart.) The currency pair touched the low of 1.1295 intraday but bounced to 1.1350 later as US housing data was not impressive as well. Existing home sales fell to the seasonally adjusted annual rate of 4.82 million in January (lowest since April) from the upwardly-revised 5.07 million in December, trailing […]

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