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Day: April 29, 2015
April 292015
Great Britain Pound Logs Gains After Economic Data
The Great Britain pound rallied today, reaching the strongest level in a month versus the US dollar, as macroeconomic data from the United Kingdom was relatively positive. The softness of the US currency added to the upside momentum of the sterling. The Nationwide House Price Index rose 1 percent in April versus the meager increase by 0.1 percent during the previous month. At the same time, Confederation of British Industry reported that growth of retail sales slowed. Yet […]
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April 292015
NZ Dollar Recovers After Earlier Losses
The New Zealand dollar logged gains against its US counterpart and the Japanese yen (update: the NZ dollar retreated back to the opening level versus the yen), carried higher by the greenback’s weakness. Earlier, the New Zealand currency declined due to the mixed macroeconomic data from the South Pacific country. New Zealand imports fell while exports rose in March, resulting in the trade surplus of NZ$631 million — bigger than was predicted by analysts. […]
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April 292015
Loonie Weakens After Yesterday’s Surge
Canadian dollar is weaker today, following yesterday’s somewhat surprising surge. There are some factors supporting the loonie in the short to medium term, so the currency might get another chance later. Yesterday, the loonie popped a bit against its major counterparts. Today, the currency appears to be weakening against those currencies. Oil is down again (although it remains in the mid-50s per barrel), and some Forex traders […]
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April 292015
Euro Struggles Against Its Major Counterparts as Traders Wait for News
Euro is struggling against its major counterparts today as Forex traders wait for news out of the United States. Many are waiting to see what the Federal Reserve will announce about policy going forward, as well as weighing recent events in the eurozone. After moving a bit higher against many of its counterparts, the euro is now struggling. Euro reached above 1.10 against the US dollar earlier in the session but […]
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April 292015
EUR/USD Rises After US GDP, Trims Gains After FOMC
EUR/USD climbed today with the help of abysmal US GDP report that showed that the US economic growth almost halted in the first quarter of this year. The currency pair trimmed its gains after the Federal Open Market Committee released its policy statement that was relatively optimistic. US GDP growth was a meager 0.2% in Q1 2015, according to the advance estimate, versus the forecast change of 1.0% and the previous […]
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