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Day: March 18, 2015
March 182015
Rally of Euro Doesn’t Convince Analysts
The euro rallied together with other currencies today after the Federal Reserve trimmed its economic forecasts, leading to speculations about a delay for the planned monetary tightening. Still, analysts are not convinced by the rally of the euro and think that the currency should retreat very soon. While the shared 19-nation currency rallied on the back of the dollar’s weakness, the internal European problems should support a bearish bias of the currency. With struggling economies of the European […]
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March 182015
Dollar Tumbles After Fed Drops Phrase ‘Patience’
As was expected, the Federal Reserve dropped the phrase ‘patience’ from its statement, and that should have been a bullish event for the US dollar. Yet in reality the currency tumbled after the announcement. What are possible reasons for such behavior? One of the possible reasons for the drop is that the event has been priced in, and now traders are just taking profit. Yet there are other reasons as well, like the downward […]
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March 182015
Loonie Continues Its Fall Against the Greenback
Canadian dollar is continuing its fall against the greenback today, heading lower than it’s been in years as Forex traders look forward to today’s Federal Reserve announcement. It’s also not helping matters that oil prices continue to fall. Loonie is trading mixed today. However, against its most important currency counterpart, the greenback, the loonie continues to drop. Even though the Canadian dollar is higher […]
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March 182015
NZ Dollar Pares Losses But Remains Vulnerable
The New Zealand dollar pared its earlier losses during the Wednesday’s trading session but remains vulnerable as fundamentals, both domestic and overseas, are negative for the currency. New Zealand’s current account balance deficit (seasonally adjusted) widened by NZ$175 million to NZ$2.6 billion in the December 2014 quarter from the previous three months. The Global Dairy Trade Price Index dropped 8.8 percent since the beginning of March. The domestic data, coupled […]
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March 182015
US Dollar Mixed; Dollar Index Lower
The US dollar index is lower today, while the US dollar trades mixed against its major counterparts. In a lot of ways, the dollar is “wait and see” mode as Forex traders and others await the latest Federal Reserve decision and statement. While no one expects the Federal Reserve to announce a rate hike immediately, there is still a lot of curiosity about the announcement expected later today. As a result of speculation, the US dollar […]
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March 182015
Sterling Loses Support from Interest Rate Hike Expectations
Today’s employment data from the United Kingdom and the minutes of the latest Bank of England’s policy meeting suggested that there likely will not be an interest rate hike in the near future. Hopes for monetary tightening were a key component for the strength of the Great Britain pound, and the currency has been weakening as chances for an early rate hike were waning. The employment report released during the current trading session was mostly disappointing with […]
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March 182015
Euro Jumps After FOMC Drops ‘Patience’ from Statement
The Federal Open Market Committee dropped the mention of patience in its statement as was expected by majority of market participants, yet EUR/USD jumped after the announcement that should have been supportive for the dollar. There can be several explanations for such performance. One of them is that the event has been priced in. Another one is that the forecast for growth and inflation got a negative revision. US crude oil inventories […]
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