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Day: May 19, 2015
May 192015
Euro Goes Lower on ECB Bond Purchases & German Business Sentiment
The euro dropped today against its major rivals due to a report that the European Central Bank will expand its bond purchases. Poor economic data from Germany also drove the shared 19-nation currency down. ECB Executive Board member Benoit Coeure said the central bank would buy more securities in May and June. He explained that the reason for such decision is the “notably lower market liquidity.” […]
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May 192015
US Housing Data Fuels Upside Momentum of Greenback
US housing data released today impressed analysts, beating even optimistic forecasts. It allowed the US dollar to gain for the second straight session against the euro and for the third session versus the Great Britain pound and the Japanese yen. Both US housing starts and building permits rose at the seasonally adjusted annual rate of 1.14 million in April, and both indicators exceeded forecasts. Housing starts were at the highest level since December 2007 […]
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May 192015
RBA Minutes Have Limited Impact on Australian Dollar
The Australian dollar fell against its US counterpart today after the Reserve Bank of Australia released minutes of its May policy meeting, during witch the central bank has cut interest rates. Yet the drop was not big, and the Aussie actually managed to gain on the euro. The minutes showed that the RBA staff was not as optimistic about economic growth as it has been previously: Although the recent flow of data […]
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May 192015
Pound Slumps as Great Britain Enters Deflation
The Great Britain pound tumbled today as the United Kingdom has entered deflation for the first time in more than 50 years. The currency had been moving mostly sideways ahead of the report. The annual drop of the UK Consumer Price Index in April was not big — just 0.1 percent. Yet it was the first time when the UK entered deflation since 1960. The very negative report led to the third straight daily […]
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May 192015
US Dollar Strengthens on Likely Policy Divergence
US dollar is heading higher today, strengthening on likely policy divergence with European currencies. Greenback is gaining support as economic data in other regions sour and as commodities fall back. The latest news out of the United Kingdom is that deflation is taking hold. With expectations that the Bank of England will have to continue easing policies, the dollar is likely to retain its strength against the sterling. In the eurozone, the European […]
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May 192015
Deflation Sends the UK Pound Lower
After showing strength on the heels of the recent election in the United Kingdom, the pound is now weakening. The latest inflation data is in, and it appears that deflation is affecting the sterling. UK pound saw gains following the recent election. With a victory for the party in power, many saw the election as a way to maintain the status quo, providing the certainty that many crave in these times. This helped boost sterling. Now, though, […]
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May 192015
Second Day of Losses for EUR/USD
EUR/USD declined for the second consecutive day during the current trading session as housing data from the United States exceeded market expectations. Today’s positive report followed Friday’s releases that were very disappointing for dollar bulls. Meanwhile, the German economic sentiment dropped to the lowest level since December, pushing the euro further down against the dollar. (Event A on the chart.) Both housing starts and building permits rose basically at the same seasonally […]
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