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Day: February 24, 2015
February 242015
Yen Drops as Economic Data Trails Expectations
The Japanese yen fell today even though the nation’s corporate services price index last month. The possible reason for the drop is that the growth of the index was not as big as analysts promised. The Services Producer Price Index rose 3.4 percent in January from a year ago. While it was not a bad reading, it was still below the previous month’s increase by 3.5 percent and the median forecast of 3.6 percent. […]
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February 242015
NZ Dollar Fails to Rally due to Inflation Expectations
The New Zealand dollar sank during the current trading session after official data showed that inflation expectations worsened. The currency reached the lowest level in a week and a half against its US counterpart. The Reserve Bank of the New Zealand reported that short- and long-term inflation expectations deteriorated in the first quarter of this year. The data highlighted worsening outlook for the New Zealand economy. It had a clear impact on the NZ dollar as the currency […]
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February 242015
UK Pound Struggles with Speculation on Political Outcomes
UK pound is struggling today, heading lower against the dollar and the euro as the general elections are looked forward to, and as expectations of a rate hike from the Bank of England are pushed out toward the fourth quarter of 2015. Right now, there is a lot of speculation about what’s next for the UK pound. Policy is a bit unclear, and many are watching for a ramp up of political season. The outcome of May’s General Election […]
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February 242015
EUR/USD Flat After Yellen’s Testimony
EUR/USD was flat today with a slight downside bias. The dollar was not particularly strong as the testimony of Janet Yellen, Federal Reserve Chairperson, was more dovish than the market has counted on. Weak US macroeconomic indicators were not helping the greenback either. At the same time, today’s data showed that the eurozone remained in deflation, and this did not allow the euro to gain on the dollar. S&P/Case-Shiller home price […]
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