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Day: March 13, 2015
March 132015
Bank of Russia Cuts Key Rate, Sending Ruble Down
The Russian ruble dropped today after the central bank made a decision to reduce its key rate as inflation pressure abated. The ruble was strengthening lately following the earlier plunge due to sanctions from the United States and the European Union. The Bank of Russia announced today: On 13 March 2015, the Bank of Russia Board of Directors decided to reduce the key rate from 15.00 to 14.00 percent per annum taking into account that […]
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March 132015
Euro Collapses to New Lows as Traders Flee to Safety
The euro tumbled across the board today as the risk-negative market sentiment added to the downside pressure that the currency was already experiencing. The euro dropped to the lowest level in 11 years against the US dollar and the lowest in 9 years versus the Great Britain pound. Traders were already cautious due to the upcoming Federal Reserve meeting, and the current trading session made them even more averse to risk after US economic data trailed […]
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March 132015
Yen Gains Against Major, Except for Dollar
The Japanese yen followed the US dollar in a rally ahead of next week’s monetary policy meeting of the Federal Reserve. The yen demonstrated gains against most other major currencies, with the obvious exception of the dollar against which the Japanese currency was flat. Traders are readying for the Fed meeting and speculate about possible actions US policy makers may take. The resulting risk-averse sentiment was driving higher the currencies perceived to be […]
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March 132015
Pound Drops After Carney’s Comments
The Great Britain pound tumbled today, reaching the lowest level since June 2010 against the US dollar, after the central bank’s chief signaled that the planned interest rate hike will likely be postponed. Mark Carney, Governor of the Bank of England, said in an interview today that, while he is optimistic about the nation’s economy, there is no hurry for raising interest rates. Considering that prospects for a rate […]
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March 132015
Canadian Dollar Struggles Along With Oil
Oil continues to struggle in the markets, and that is bringing the Canadian dollar lower as well. Right now, loonie continues to drop against the greenback, even though it (like every other currency) is higher against the euro. The only major currency that loonie is gaining against right now is the euro. Against other currencies, the Canadian dollar isn’t doing as well. The loonie is having especial problems with […]
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March 132015
US Dollar Resumes Its Rally
US dollar has resumed its rally, heading higher again after yesterday’s breather. Greenback is once again up against its major counterparts, gaining ground as rumors about a Fed rate increase swirl. Forex traders are looking to better data as an indication that the Federal Reserve is getting ready to hike rates. The employment situation, while still not ideal, is improving, and that has long […]
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March 132015
Dollar Gains on Euro, Ignoring Negative Reports
EUR/USD retreated back to its previous lows following yesterday’s rally. The dollar managed to gain on the euro even though Friday’s economic data from the United States was far from good. PPI fell 0.5% in February after dropping 0.8% in January. Economists have hoped for a 0.2% increase. (Event A on the chart.) Preliminary Michigan Sentiment Index dropped from 95.4 to 91.2 in March instead of rising 95.6 as analysts were promising. […]
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