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Day: July 7, 2015
July 72015
Canadian Dollar Extends Monday’s Losses
The Canadian dollar extended its drop today, touching the lowest level since March against the US dollar and falling 1 percent versus the Japanese yen. At the same time, the loonie gained on the euro, though it trimmed most of initial gains. Domestic fundamentals were unfavorable to the Canadian currency as the nation’s trade balance deficit increased from C$3.0 billion in April to C$3.3 billion in May. It was a nasty surprise to those economists […]
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July 72015
Dollar Reverses Monday’s Moves
The US dollar reversed its yesterday’s moves during today’s cautious trading. The currency gained on the euro and surged against the Great Britain pound, falling versus the Japanese yen at the same time. Some traders subscribe to the theory of Tuesday reversal. The theory says that if a move has occurred on Monday then it is often reversed on Tuesday. It is hard to say how true that idea is, but it […]
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July 72015
Growing Trade Deficit Doesn’t Slow Dollar Gains
A growing trade deficit for the United States hasn’t slowed dollar gains today, largely due to the fact that economic data is overshadowed by the Greek drama still being played out in the eurozone. With all eyes on the 19-nation currency region, and uncertainty over what’s next running high, the US dollar is mostly higher. The latest trade deficit numbers indicate that the May 2015 trade deficit for the United States climbed […]
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July 72015
Euro Continues to Struggle as Time Runs Out for Greece
Time is running out for Greece, and the euro continues to struggle as a result. The future of the eurozone is seen hanging in the balance over this, and that has some uncertain about what’s next for the euro. Greece missed its most recent payment on its debt not too long ago, and since then European leaders have been trying to come to an agreement with Greece about the terms of a further bailout, or for restructuring of Greece’s debt. […]
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July 72015
NZ Dollar Drops to Multi-Year Low vs. US Dollar
The New Zealand dollar followed its Australian counterpart in decline, also falling to a multi-year low against the US dollar, as economic news from New Zealand was rather pessimistic. The New Zealand Institute of Economic Research reported today: The latest NZIER Quarterly Survey of Business Opinion shows the New Zealand economy losing momentum. After discussing various signs of economic weakness in New Zealand, the institute concluded: These results suggest […]
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July 72015
Aussie Dips After RBA Holds
The Australian dollar sank today, reaching a new multi-year low against its US peer, after the Reserve Bank of Australia held its monetary policy meeting. The central bank made no surprises to the market, keeping its policy steady. As was expected, the Aussie could not hold ground for long. The RBA kept its main interest rate at 2 percent and released a relatively neutral statement. Yet it said regarding […]
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