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Day: May 29, 2015
May 292015
Loonie Recovers After Hit from Canadian GDP
The Canadian dollar sank today after data that showed an unexpected decline of Canada’s economy. The currency recovered somewhat by the end of the trading session, erasing losses against the US dollar and the Japanese yen, also trimming the drop versus the euro. Canada’s gross domestic product fell 0.2 percent in March from February and declined 0.1 percent in the first quarter of 2015 from the previous three months. The report was a bitter disappointment for many […]
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May 292015
Dollar Drops vs. Euro, Gains for Sixth Day vs. Pound & Yen
The US dollar fell against the euro today after macroeconomic reports that were largely negative. Still, the currency managed to gain on the Great Britain pound and the Japanese yen, demonstrating the sixth consecutive session of gains. The most important report today was the second estimate of gross domestic product in the first quarter of this year. The data showed a drop by 0.7 percent instead of the increase by 0.2 percent showed by the first estimate. The problem with […]
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May 292015
NZD Touches Lowest Since 2010 vs. USD
Economic data from New Zealand was rather poor today, leading to a drop of the nation’s currency. The New Zealand dollar touched the lowest level since September 2010 against its US peer. Building consents fell 1.7 percent in April (seasonally adjusted) following the 10 percent increase in March. The ANZ Business Confidence fell from 30.2 in April to 15.7 in May. The report pointed out that, while the confidence declined, […]
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May 292015
Yen Supported by Data from Japan
The Japanese yen gained on the US dollar and the Great Britain pound today as macroeconomic data from the Asian country was mostly positive, increasing appeal of the currency to investors. Japan’s core Consumer Price Index rose 0.3 percent in April while the Tokyo core CPI rose 0.2 percent in May, in line with expectations. Industrial production increased 1 percent in April on a seasonally adjusted basis, slightly above forecasts. Not every […]
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May 292015
Third Session of Gains for EUR/USD
EUR/USD rallied for the third straight session today after the release of economic data from the United States. Basically all US indicators were bad, even though some of them have exceeded expectations. As a result, the dollar lost some of its appeal for traders. According to the second (preliminary) estimate, US GDP fell 0.7% in Q1 2015 after rising 2.2% in Q4 2014. While the reading itself was not good, at least […]
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