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Day: March 9, 2015
March 92015
Japanese Yen Reverses Friday’s Gains
The Japanese yen dropped today as it followed the US dollar in reversing Friday’s gains. Economic data from Japan was another reason for the currency to fall as indicators disappointed economists. Japan’s gross domestic product rose 0.4 percent in the fourth quarter of 2014. While the reading was not terrible by itself, showing that the economy emerged from recession, it was not as good as the preliminary estimate and economists’ expectations. The current account […]
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March 92015
Euro Bounces vs. Dollar, Analysts Still Skeptical
The euro bounced against the US dollar after reaching a new multi-year low earlier during the Monday’s trading session. The currency also gained on the Japanese yen but was unable to beat the Great Britain pound. Most market analysts believe that the current rally will be short-lived. It is likely that the euro’s rally was a result of profit-taking after the Friday’s massive losses against the US dollar. It is […]
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March 92015
NZ Dollar Unable to Post Gains
The New Zealand dollar bounced after the initial drop earlier today but was unable to log gains as domestic macroeconomic data that came out over the weekend was detrimental to the currency’s performance. Like the Australian dollar, the New Zealand currency rebounded after the drop earlier during the current trading session, but unlike the Aussie the kiwi was unable to move further up from the opening level. One of the reasons for the lackluster […]
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March 92015
Aussie Gains Despite Data from China
The Australian dollar gained today even though economic data from China, the biggest trading partner of Australia, was not particularly supportive for the currency. China reported that its trade surplus grew in February. While positive economic data from the Asian nation is usually good for the Australian currency, the improvement of the balance was a result not only of higher exports but also falling imports, and it is bad news […]
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March 92015
Dollar Forecast for Week Before Fed Meeting
The US dollar ended the last week on a positive note. Can the US currency maintain its bullish momentum or a pause in the rally should be expected? There are arguments for both possibilities. On one hand, the previous weekâs gains resulted in a clear-cut uptrend. On the other, the rally might be considered a bit excessive after the Dollar Index reached the 11-year high. If the latter sentiment takes hold of the market then some form of correction […]
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