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Day: March 4, 2015
March 42015
Poland’s Central Bank Cuts Interest Rates, Zloty Weakens vs. Dollar
Poland’s central bank decided to perform an interest rate cut today, reducing all of its borrowing costs by half of a percentage point. Such decision resulted in a drop of the Polish zloty against the US dollar. The currency was still stronger than the euro. The National Bank of Poland cut its interest rates by 0.5 percentage point, meaning that the reference rate stands at 1.5 percent now. The size of the cut was bigger than […]
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March 42015
Indian Rupee Drops as RBI Performs Another Interest Rate Cut
The India rupee dropped today after the nation’s central bank cut its interest rate, including the key Bank Rate. The bank also commented on the strength of the currency, considering it excessive. While the currency was down against the US dollar, it managed to outperform the extremely weak euro. The Reserve Bank of India reduced several interest rates today, including its main rate that was cut by 25 basis points […]
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March 42015
Eurozone Economy Improves, But Euro Still Struggles
Euro continues to struggle today, even after evidence that the eurozone economy is improving. In fact, eurozone economic progress is beating expectations. However, Greece and Ukraine continue to raise questions, and the ECB is still preparing to go forward with its money printing program. These items weigh on the 19-nation currency. Reuters recently compiled a variety of economic data from the eurozone and found that things have improved more […]
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March 42015
US Dollar Continues Its Climb
Greenback is mostly higher today, continuing its recent climb. Even though the greenback eased back from a dollar index high not seen for more than a decade, the currency is still heading steadily higher today. In earlier trading, the US dollar index reached an 11-year high. However, after touching that level, the greenback pulled back a little bit. Coming economic reports out of the United States and Europe […]
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March 42015
EUR/USD Crashes to 11-Year Low
EUR/USD sank today, reaching the lowest level in more than 11 years. The euro was under selling pressure after economic data from several European countries disappointed market participants. Meanwhile, US employment continued to grow at steady pace and the services sector expanded faster than was expected. ADP employment grew by 212k jobs in February from the previous month, missing the forecast of 219k slightly. The already impressive January […]
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