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Day: April 28, 2015
April 282015
Dollar Loses Ground as Consumer Confidence Turns Sour
Today, the US dollar was hurt by negative economic data yet again as the consumer confidence deteriorated unexpectedly this month. The greenback is attempting to hold against the Japanese yen but lost ground to other most-traded peers, including the euro and the Great Britain pound. Conference Board reported that the consumer confidence index fell to 95.2 in April from 101.4 in March while experts promised an increase to 102.6. Other macroeconomic indicators […]
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April 282015
Yuan Climbs vs. Dollar Despite Stimulus Speculations
The Chinese yuan rose against the US dollar today even though speculations about monetary stimulus from the central bank put pressure on the currency. There were reports that the People’s Bank of China is going to start buying the local government’s debt in an effort to reignite economic growth. It is unlikely that the central bank will resort to a full-fledged quantitative easing as monetary conditions remain relatively tight, giving policy […]
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April 282015
Aussie Gains Ground After US Data Release
Aussie is gaining ground today, but it’s not as much about strength Down Under as it is about weakness in the United States. Australian dollar is higher today, gaining against the US dollar and its European counterparts. The US dollar is taking a hit because of recent data that indicates that the US economy might not be growing as quickly as expected. With this in mind, there are […]
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April 282015
Euro Surges as Greece Hopes are Renewed
New hopes for a way for Greece to find the money it needs to keep going — and remain part of the eurozone — are boosting the euro today. The 19-nation currency is near a three-week high against the US dollar, and gaining ground against other major counterparts as well. Many Forex traders and others are finding hope in the news that Greek Prime Minister Alexis Tsipras has made changes to his negotiating team in an attempt to downplay […]
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April 282015
Yen Attempts to Rally vs. Dollar Despite Credit Rating Cut
Fitch Ratings downgraded Japan’s sovereign credit rating yesterday. Despite the negative news, the Japanese yen is trying to rally against the US dollar today. Against other major currencies, like the euro and the Great Britain pound, the yen is weak. Fitch slashed the nation’s credit grade by one notch from A+ to A. The agency cited among reasons for the decision following consideration: Fitch’s downgrade reflects the fact that the Japanese […]
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April 282015
UK Economic Growth Drops Sharply, Sterling Under Pressure
Today’s data from Great Britain revealed that the nation’s economy grew two times less than was predicted by experts. The pound dropped sharply as a result on the news. The currency managed to bounce against the US dollar but remained below the opening level versus the euro (though the sterling is attempting to recover currently). Gross domestic product of the United Kingdom rose 0.3 percent in the first quarter of 2015 after increasing 0.6 […]
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April 282015
Dollar Loses to Euro After Disappointing US Data
The dollar slid against the euro today after the release of disappointing macroeconomic reports from the United States. While the housing data was encouraging, the consumer sentiment report disappointed economists. Meanwhile, the manufacturing index improved but still trailed expectations somewhat. S&P/Case-Shiller home price index rose 5.0% in February from a year ago. The growth exceeded the median forecast of 4.7% and the January’s 4.5%. The index rose 0.5% on a monthly basis. (Event […]
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April 282015
Dollar Shows Weakness Ahead of Fed Meeting
The US dollar is demonstrating weakness ahead of the Federal Reserve policy meeting. The greenback fell against many other currencies yesterday and remained flat today. The string of worse-than-expected economic reports from the United States continued on Monday as the Markit Flash US Services PMI fell unexpectedly. The constant stream of disappointing data led to speculations that the Fed will not raise interest rates in June and may even delay an interest rate […]
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April 282015
Euro Attempts to Rally, Fails
The euro attempted to rally against the US dollar on Monday but did not follow through with the rally on Tuesday. The shared eurozone currency also gained on the Japanese yen but fell against most other major counterparts. The euro attempted to rally on the news that Greece replaced Finance Minister Yanis Varoufakis with Deputy Foreign Minister Euclid Tsakalotos as the chief negotiator with European creditors. The announcement brought a glimmer of hope […]
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