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Day: April 2, 2015
April 22015
Canadian Dollar Gains on Greenback & Yen, Unable to Beat Euro
As most other currencies, the Canadian dollar gained on the US dollar today. The loonie also rallied versus the Japanese yen but was unable to beat the extremely powerful euro. Canada’s imports were falling while exports were rising in February. This led to the decline of the trade balance deficit from C$1.5 billion in January to C$984 million in February. Forecasts ahead of the report were far more pessimistic, promising an increase of the trade gap […]
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April 22015
US Dollar Demonstrates Surprising Weakness
The US dollar was surprisingly weak today, falling to the lowest level in almost a week against the euro. The greenback fared somewhat better against the Great Britain pound and the Japanese yen, moving sideways. It was surprising to see the US currency so soft today. While the weakness of dollar could be explained by poor economic reports yesterday, today such explanations would not be valid as all the economic data from […]
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April 22015
NZ Dollar Demonstrates Strength vs. Rivals
The New Zealand dollar rallied today with the help of positive macroeconomic data and the weakness of the US currency. The kiwi rallied even as prices for raw materials fell, driving commodity-related currencies down. The New Zealand currency fared far better than its Australian counterpart, managing to erase its losses and gain on the US dollar and the Japanese yen. While commodities were in decline today, pushing growth-related currencies lower, the ANZ Commodity Price […]
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April 22015
Australian Dollar Sinks with Prices for Iron Ore
The Australian dollar sank today, reaching the lowest level since May 2009 against its US counterpart. Australia’s economy relies strongly on export of raw materials, linking the performance of the Aussie to movement of commodity prices. The Australian dollar dropped today with the decline of commodities and iron ore in particular, which fell to the lowest level in at least seven months. The widening trade balance deficit was also detrimental to the currency. The Aussie was the weakest […]
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April 22015
Dollar Doesn’t Feel Support from Fundamentals
The dollar remained in a bearish mode today even though macroeconomic reports from the United States were really good, unlike yesterday. EUR/USD managed to erase all of its weekly losses after today’s rally. Tomorrow’s session will be extremely important for the fate of the dollar due to the release of nonfarm payrolls. The problem for traders is that many markets will be closed for Good Friday, meaning that the reaction for the NFP will […]
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April 22015
Lackluster US Economic Indicators End Dollar’s Rally
The US dollar halted its rally on Wednesday, falling against some of its most-traded counterparts. The reason for the drop was the lackluster economic data that hurt optimism of dollar bulls. The greenback kept its losses on Thursday. The week started on a positive note for the US currency as fundamental reports were mostly positive, resulting in a rally. Yet the recovery proved to be short-lived as economic data took a turn for the worse yet again. ADP employment […]
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