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Day: February 25, 2015
February 252015
Lower Chances for Interest Rate Cut Mean Stronger CAD
The Canadian dollar gained today with the help of rising oil prices as well as yesterday’s speech from the central bank’s chief that made traders reevaluate chances for an interest rate cut. Stephen Poloz, Bank of Canada Governor, was talking at Western University, London, yesterday. He said that “decision to lower the policy interest rate last month was intended to take out some insurance” against “the risks facing both […]
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February 252015
US dollar Continues to Struggle After Yesterday’s Remarks From Yellen
US dollar is still down today, following yesterday’s drop on the heels of remarks made by Fed Chair Janet Yellen to Congress. Many Forex traders have been considering that the Federal Reserve will raise interest rates sometime in 2015. However, the idea of a rate hike in the United States seems further away after the first day of Chairwoman Janet Yellen’s testimony to Congress. Yellen is testifying before Congress, as Federal […]
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February 252015
EUR/USD Little Changed Again
EUR/USD barely moved from its opening level during the current trading session. While the euro attempted to rally during early Wednesday’s trading, it retreated to the opening quickly. New home sales were at the seasonally adjusted annual rate of 481k in January, little changed from the revised December’s value of 482k. The actual reading was better than 471k predicted by analysts. (Event A on the chart.) Crude oil inventories increased by 8.4 […]
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