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Day: April 9, 2015
April 92015
NZ Dollar Follows Aussie in Rally
Like its Australian counterpart, the New Zealand dollar rallied during the current trading session. There were no domestic fundamentals to support the New Zealand currency, but the general market sentiment was enough to lift it higher. Yesterday, traders focused on the hawkish parts of the Federal Reserve minutes, pushing currencies down against the US dollar. It looks like today the market concentrated on the dovish parts of the report, allowing the kiwi […]
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April 92015
Oil Helps Canadian Dollar in Forex Trading
Canadian dollar is a little bit higher today, thanks in part to oil prices. Crude oil is on the rise again, and yesterday’s announcement of the merger between Shell and BG Group is having its effect as well. Oil prices are back above $50 a barrel today, and that is helping the loonie in Forex trading. Canadian dollar is getting a boost from higher oil prices, although prices are nowhere […]
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April 92015
Australian Dollar Gets Boost from Fundamentals
The Australian dollar rallied today, getting a boost from favorable domestic macroeconomic data as well as from speculations that the Federal Reserve will postpone monetary tightening. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index rose by 6.2 to 50.1 in March. This means that the Australian construction sector returned to growth, albeit a slow one. Meanwhile, traders continue to speculate about possible timing of an interest […]
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April 92015
UK Pound Pulls Back After Yesterday’s M&A Fueled Surge
UK pound is pulling back today after its surging performance yesterday. News of a major energy merger helped the sterling yesterday, and today the currency is consolidating a bit as Forex traders consider the situation and focus on Fed minutes. Yesterday, M&A interest surged as Royal Dutch Shell announced that it would merge with BG Group. The merger created a great deal of interest in the UK pound, and sterling surged against its […]
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April 92015
EUR/USD Drops for Fourth Session
EUR/USD fell today following yesterday’s FOMC minutes. Today’s economic data from the United States did not provide enough information to push the dollar in either direction. This resulted in a decline of the greenback against some currencies, though the dollar gained on most of major rivals, including the euro. Initial jobless claims rose to 281k last week from the previous week’s revised level of 267k, in line with expectations. (Event A on the chart.) […]
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