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Day: May 20, 2015
May 202015
Westpac’s Report Doesn’t Support Australian Dollar
The Australian dollar was rather soft during the Wednesday’s trading session despite positive news from Australia. The currency attempted to rally against the euro but pared most of its gains as of now. The Westpac-Melbourne Institute Consumer Sentiment showed an improvement by 6.4 percent in May. The report noted that the latest interest rate cut one of the major contributors to the increase. As for the future, Westpac’s Chief Economist, Bill Evans said: The minutes from the May […]
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May 202015
Pound Higher After BoE Minutes
The Bank of England released minutes of its May policy meeting during the current trading session. While the Great Britain pound has been flat against the US dollar after the release, the currency gained on its other major rivals, including the euro and the Japanese yen. The minutes showed that the decision to keep monetary policy unchanged was unanimous. Overall, market participants considered the report relatively hawkish. For example, it said: While […]
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May 202015
Japanese Remains Mostly Lower After Profit Reports
Japanese yen is holding steady today, remaining mostly weak against its major counterparts. Thanks to a weak yen, GDP and company profits in Japan are showing improvement. Japanese yen remains mostly weak against its major counterparts today, following profit reports from companies and data that indicates better than expected GDP for the first quarter of 2015. The latest news out of Japan indicates record profits […]
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May 202015
Canadian Dollar Falls as Oil Slides
Canadian dollar is mostly lower again today, thanks to the slide in oil prices. The loonie is struggling as oil, once again, falls away from the $60 a barrel mark. The Canadian economy is very dependent on oil prices, and the fact that oil is falling against isn’t helping the loonie today. Oil is down more than $2 per barrel on the day, and is likely to continue to fall in the near term. […]
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