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Day: April 16, 2015
April 162015
Poor US Data & Rising Crude Oil Prices Fuel Gains of CAD
The Canadian dollar rose today, climbing to the highest level in almost three months against its US counterpart and the Japanese yen, as poor economic data from the United States and the rally of crude oil prices played in favor of commodity currencies. Futures for WTI crude oil gained 0.57 percent in New York today. The performance of the Canadian currency is strongly tied to moves of oil prices as crude is the biggest Canada’s export. Yesterday’s […]
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April 162015
Dollar Under Pressure from Weak Economic Data
The US dollar was under pressure from poor macroeconomic indicators lately, and the Thursday’s session was not an exception. While not all of the reports were bad, most of them were not as good as market participants had expected, driving the greenback further down. With housing starts and building permits missing expectations and jobless claims rising more than was predicted, the dollar had no shortage of reasons to drop. The better-than-expected […]
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April 162015
EUR/USD Continues March Upward
EUR/USD extended its upward move during the current trading session as most of today’s economic reports from the United States missed expectations. The better-than-expected manufacturing indicator made the currency pair pause the rally, yet it looks like the euro is ready to resume its march upward against the dollar now. Housing starts and building permits for March came out weaker than market participants were anticipating. Housing starts […]
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