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Day: March 11, 2015
March 112015
Euro Dives to New Multi-Year Lows
The euro plunged to new multi-year lows against its major rivals as negative factors persisted, driving the shared 19-nation currency down. This is not necessary bad for the eurozone as the weaker currency helps European exporters. There are plenty of reasons for the euro to go down. One of them is the quantitative easing program that the European Central Bank has started on Monday. Of course, Greece remains a sore topic. And on top of that, […]
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March 112015
NZ Dollar Rebounds After RBNZ Stays Put
The New Zealand dollar was moving down for the most part of Wednesday’s trading session but bounced sharply after the central bank maintained interest rates unchanged and promised a period of stable monetary policy. As was expected, the Reserve Bank of New Zealand kept its main interest rate (the Official Cash Rate) at 3.5 percent today. Governor Graeme Wheeler said in the accompanying statement: The domestic economy remains strong. At the same time, […]
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March 112015
Australian Dollar Fails to Bounce, Plenty of Reasons to Extend Decline
The Australian dollar bounced after reaching the lowest level since May 2009 against its US counterpart earlier today. Still, analysts think that there are plenty of reasons for the Aussie to resume its decline, and the currency indeed is dropping right now. Today’s economic data from Australia and China was lackluster, giving the Australian currency no reason to rally. The strength of the US dollar is another detrimental factor […]
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March 112015
UK Production Output Disappoints, Sterling Unfazed
The Great Britain was flat against the US dollar today after economic data from the United Kingdom did not match expectations, being weaker than it was forecast. At the same time, the sterling managed to rally against some other major currencies, including the euro. Both industrial and manufacturing production fell in January from the previous month even though economists predicted a 0.2 percent increase for both indicators. Meanwhile, […]
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March 112015
Loonie Gains Against European Currencies, Loses to Greenback
Canadian dollar is trading mixed today, gaining against the major European currencies, but heading lower against the US dollar. Loonie is in an interesting position today. The Canadian dollar is heading higher against the euro and the UK pound today. The Canadian economy is still considered relatively strong, while the eurozone continues to flounder and wrestle with Greece. Additionally, the Bank of Canada is likely to make a move to raise rates […]
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March 112015
US Dollar Continues to Surge
US dollar is ascendant today, thanks to almost every bit of news out there right now. Rumors of a Fed rate hike, the slide in oil, and the huge drop in US stocks yesterday are all contributing to a strong greenback today. Yesterday was a big day in the financial world, and almost everything contributed to a stronger US dollar. The US dollar is rallying almost across the board as Forex traders and analysts speculate that […]
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March 112015
EUR/USD Plunges to New Low
EUR/USD tumbled to trade near the lowest level since March 2003 during the current session as speculations about a potential interest rate hike from the Federal Reserve continue to drive the dollar higher against its rivals. EUR/USD has declined 2.9% so far this week. Crude oil inventories increased by 4.5 million barrels last week, matching expectations exactly and reaching a new record. Total motor gasoline inventories […]
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