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Day: July 14, 2015
July 142015
Canadian Dollar Follows Crude Oil Prices
The Canadian dollar sank during Tuesday’s trading but bounced to trade basically flat against its major peers. The moves of the currency followed the moves of crude oil prices after the Iranian nuclear deal was announced. As was expected, moves of the Canadian currency closely tracked the movement of oil prices. What was unexpected was the exact direction of that movement. The announcement of the accord between Iran and the international community regarding the Iranian nuclear […]
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July 142015
Sterling Leaps After Carney Talks About Higher Interest Rates
The Great Britain pound surged against its major rivals today after comments of the nation’s central bank head Mark Carney who spoke about higher interest rates. On the negative side, today’s economic data from the United Kingdom was somewhat soft. Carney said today that the time for an interest rate hike is coming closer. Yet he also warned that the increase will not be fast […]
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July 142015
Euro Continues to Struggle in the Wake of Greek Agreement
Euro is struggling today as Forex traders and analysts mull over the agreement reached with Greece over the weekend. The 19 nation currency is down pretty much across the board since slipping from its earlier gains against the US dollar. Concerns about a party revolt against Greek Prime Minister Alexis Tspiras are on the rise today. Recently, Greek citizens rejected a package of austerity measures through […]
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July 142015
Soft US Data Sends Greenback Lower
The latest retail sales data out of the United States is softer than expected, a reality that is sending the greenback lower against its major counterparts today. Expectations for a September interest rate hike are fading a bit, although many are still holding out for the release of the Fed’s Beige Book tomorrow. Retail sales fell 0.3 per cent in June, according to the latest information released by the Commerce Department. Analysts […]
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July 142015
EUR/USD Flat After US Data
EUR/USD was rising initially today, spiking after the worse-than-expected retail sales report from the United States. Yet the currency pair retreated afterwards even though the rest of today’s economic data from the USA was not particularly supportive for the dollar either. EUR/USD dropped yesterday even though Greece reached an accord with its eurozone creditors. Retail sales fell 0.3% in June, proving wrong analysts who had […]
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July 142015
Near-Term Outlook for Canadian Dollar
The Canadian dollar has been performing rather poorly recently. Is it possible for the currency to turn its fortune around this week? The major event for the loonie (as the Canadian currency is nicknamed for the image of an aquatic bird on the $1 coin) will be the meeting of the Bank of Canada on Wednesday. While most analysts do not expect an interest rate cut, especially after the last weekâs better-than-expected employment data, a dovish policy statement […]
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July 142015
Australian Dollar Driven by News from China & Europe
The Australian dollar ticked down against its US peer but gained on the euro and the Japanese yen during Monday’s trading. The currency was mostly driven by the news from Europe and China. News from China was relatively positive, showing that nation’s imports fell 6.1 percent in June versus the expected 15.5 percent. This is a good sign for the Australian economy that strongly relies on shipping goods and raw materials […]
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