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Day: May 14, 2015
May 142015
Dollar’s Down Move Regains Momentum
While the US dollar has been going to new lows during the Thursday’s trading session, it looked like the downward move is running out of steam, allowing the currency to trim some of its losses. Yet currently the greenback resumed its move down. The dollar was falling initially during the current session, and reached the lowest level since November 27 against the Great Britain pound and the weakest since February 19 […]
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May 142015
Decline of Crude Oil Leads to Losses for Canadian Dollar
The Canadian dollar fell against other majors during the current trading session, largely due to the drop of crude oil prices. The currency fell even against the US dollar despite the earlier rise to the highest level since January. Futures for crude oil traded 1.12 percent lower at $59.82 per barrel in New York today. Prices were under pressure from oversupply on the market. The bounce of the US currency after the initial drop […]
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May 142015
Bond Yields Continue to Help Euro
Bond yields in the eurozone continue to surge, and that is helping the euro right now. The 19-nation currency is heading higher against the US dollar and some of its other counterparts as yields and economic news provide support. The euro hit a three-month high against the US dollar earlier, thanks in large part to surging eurozone government bond yields. Stocks are still on the defensive, and the euro is gaining ground. Also helping the 19-nation currency […]
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May 142015
Retail Sales Weigh on the US Dollar
US dollar is struggling today, thanks in large part to the poor retail sales data report for April. The report provides more evidence that the US economic recovery is losing steam, and that is leading to a greenback that is mostly lower in Forex trading. Analysts expected retail sales to increase by 0.3 per cent in the month of April, but they remained flat. Consumers appear reluctant to spend, and with a large […]
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May 142015
Pound Retains Strong Upward Momentum
The Great Britain pound extended its move upward today, rising to the highest level since November against the US dollar and gaining versus the Japanese yen. Today’s economic data was supportive for the currency while yesterday’s news was not so much. Today, Royal Institution of Chartered Surveyors reported that the house price balance was at the +33 mark, far above the median forecast of +22 and exceeding even the most optimistic […]
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May 142015
NZ Dollar Backs Off After Initial Rally
Economic data from New Zealand was mixed today. While the NZ dollar rallied initially as traders paid more attention to the good part of the news, the currency retreated as of now, though it is still trading above the opening level. New Zealand retail sales rose 2.7 percent during the first quarter of the year, exceeding market expectations of 1.6 percent growth. It was the biggest percentage increase since December […]
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May 142015
EUR/USD Pushes Higher for Third Straight Session
EUR/USD extended its move higher for the third session in a row today due to the general weakness of the US dollar. One of the reasons for the lackluster performance of the greenback was yesterday’s report that demonstrated stagnant retail sales. As a result, the currency pair traded near the highest level since February. PPI fell 0.4% in April on a seasonally adjusted basis, frustrating market experts who promised a 0.1% increase. The index was up 0.2% in March. […]
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