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Day: April 10, 2015
April 102015
Economic Reports from Canada Help Loonie
The Canadian dollar managed to erase losses against its US counterpart by the end of the Friday’s trading session with the help of positive domestic data. The currency even gained against the euro, reaching the highest rate since May 2013. The loonie also reduced losses versus the Japanese yen but was unable to erase them completely. Canadian employers added 28,700 jobs in March, a rather big figure for Canada, while analysts thought […]
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April 102015
GBP/USD Hits Lowest Since June 2010
The Great Britain pound fell today, touching the lowest level since June 2010 against the US dollar, as underwhelming economic data from the United Kingdom added to the downside pressure on the currency. The Friday’s economic data was unfavorable to the currency for the most part. Construction output fell 0.9 percent in February even though economists predicted an increase, and while industrial production increased, the growth was just 0.1 percent versus the forecast 0.3 […]
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April 102015
Data from Australia & China Unfavorable to Aussie
The Australian dollar went down today as economic data from both Australia and its biggest trading partner, China, was unfavorable to the currency. While the Aussie managed to gain on the euro, it declined versus the US dollar and the Japanese yen. Australian home loans increased 1.2 percent in February from the previous month. While not a bad reading but itself, it was more than two times below the forecast value […]
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April 102015
Yuan Falls as Producer Prices Remain in Deflation
The Chinese yuan slipped against the US dollar today even though China’s consumer price inflation remained steady at an elevated level. The problem for the currency is the fact that producer prices remained in deflation for the 38th consecutive month. The National Bureau of Statistics of China reported that the Consumer Price Index grew at the steady rate of 1.4 percent in March from a year ago, at the same pace as in February, while analysts anticipated small slowdown. […]
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April 102015
Japanese Yen Retains Gains as BOJ Keeps Asset Program Steady
Japanese yen is retaining many of the gains it made earlier this week following a Bank of Japan announcement that indicates the asset buying program is likely to remain steady, rather than expand. With quantitative in place for European currencies, Japan has the upper hand for now. Japanese yen continues to gain today, thanks in large part to an announcement from the Bank of Japan earlier this week. Many Forex traders […]
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April 102015
Dollar Index Continues Climb Toward 100
The US Dollar index is climbing again, heading toward the 100 level again. With the Federal Reserve expected to hike interest rates later this year, and with the greenback remaining the dominant currency in the world, there’s little to slow it down. Yesterday, the US dollar index hit an 11-year high. Last month, the dollar index did touch above 100, but it fell back quickly. Other than that […]
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April 102015
Great Britain Pound Retains Weakness vs. Dollar & Yen
The Great Britain pound sank yesterday after the Bank of England made no changes to its monetary policy and UK economic data came out mixed. While the sterling erased its losses versus the euro today, the currency retained its weakness versus the US dollar and the Japanese yen. The BoE left its main interest rate and the size of asset purchases unchanged at yesterday’s policy meeting, in line with market expectations. As it […]
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April 102015
Greece Remains Hurdle to Euro
Greece and its debt problems continue to have an adverse effect on the euro even after the indebted country fulfilled its obligation to repay the loan to the International Monetary Fund on Thursday. The shared 19-nation currency fell in spite of the news. Greece made a repayment of â¬450 million loan to the IMF yesterday. Still, IMF chief Christine Lagarde did not provide in her interview with CNBC a definite answer to the question if Greece will be […]
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