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Day: March 31, 2015
March 312015
Euro Logs Massive Drop on Tuesday
The euro demonstrated massive losses on Tuesday with not-so-good economic data, the continuing problems in Greece and the economic stimulus from the European Central Bank. The shared 19-nation currency was set to have its worst quarter in the history. The reasons for the euro’s drop were largely the same as yesterday — the debt woes of Greece and the quantitative easing program of the ECB. Unlike the previous session though, the euro sank against all its rivals, not just the dollar, […]
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March 312015
Canada’s GDP Shrinks, Canadian Dollar Unfazed
Canada’s economy shrank at the start of the current year as was demonstrated by today’s report from Statistics Canada. Yet in a surprising display of resilience the Canadian currency jumped after the report instead of falling. Canadian gross domestic product fell 0.1 percent in January after rising 0.3 percent in December. It was not a good reading yet the Canadian dollar jumped sharply after the economic release. The possible reason for such behavior is […]
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March 312015
Great Britain Pound Gets Lift from Positive Revision to GDP
The Great Britain pound was lifted by the positive revision to UK gross domestic product. With little positive news for the currency lately, it was enough to help the sterling gain even on the strong dollar, let alone on the very vulnerable euro. UK GDP rose 0.6 percent in the fourth quarter of 2014 according to the final estimate versus 0.5 percent in the previous evaluation. Other economic indicators were good as well for the most part. […]
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March 312015
Australian Dollar Under Pressure, Attempts to Fight
The Australian dollar remained under downside pressure today, falling to the lowest level since March 18 against the US dollar and to the weakest since February 5 versus the Japanese yen. Currently, the Aussie fights the pressure, managing to trim its losses. With the US dollar gaining strength, other currencies found themselves in a difficult situation. Additionally, the rally of the greenback had an adverse effect on commodities, and the Aussie’s performance is linked to that of raw […]
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March 312015
Decline of EUR/USD Accelerates
EUR/USD accelerated its decline today following yesterday’s losses. The dollar continued to receive support from the US economic data while the euro was under pressure as Greece failed to reach an agreement with its European creditors. The currency pair attempted to bounce intraday but so far the attempt was a failure. Year-on-year, S&P/Case-Shiller home price index rose 4.6% in January, matching expectations, after increasing 4.4% in the preceding month. […]
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