Day: June 3, 2015

June 3
2015

Loonie Drops Back After Yesterday’s Gains

Fueled by US dollar weakness and better oil prices, the loonie headed higher yesterday. Today, though, the Canadian dollar is down again, heading lower against the greenback and its other major counterparts. Yesterday, as the greenback’s weakness became the story on the back of falling North American stocks and disappointing economic data, the Canadian dollar got a bit of a boost. Most of those gains are being erased today as the greenback reasserts itself, and as oil […]

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June 3
2015

US Dollar Regains Some Lost Ground

US dollar is regaining some of the ground it lost yesterday, but is still somewhat weak. Greenback is higher against its major counterparts, but still hasn’t reached the performance level seen before yesterday’s mauling. Yesterday, the greenback was down across the board, being savaged by the euro as optimism about a Greek deal, combined with the lackluster data out of the United States, pointed to a weaker dollar. Today, […]

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June 3
2015

Indian Rupee Weaker After Central Bank Cuts Interest Rates

The Indian rupee was down a little against the US dollar following yesterday’s decision of India’s central bank to reduce interest rates in order to support economic growth. The Reserve Bank of India cut its interest rates yesterday, including the Bank Rate, which has been reduced by a quarter of percentage point to 8.25 percent. Bank’s Governor Raghuram Rajan said in the statement: With still weak investment and the need to reduce supply constraints […]

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June 3
2015

Euro Little Changed After Big Jump

The euro was little changed during the Asian trading session today following the huge surge yesterday. The currency has rallied on hopes for a resolution of the Greek crisis and also as inflation returned to the eurozone. Top officials from Europe and the International Monetary Fund were meeting on Monday night in Berlin to discuss the situation in Greece. Among participants of the meeting were German Chancellor Angela Merkel, French President Francois Hollande, European Commission President Jean-Claude […]

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