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Day: July 15, 2015
July 152015
Great Britain Pound Holds Ground After Employment Disappoints
Today’s unemployment data from the United Kingdom was rather disappointing yet it did not hurt the Great Britain pound much. The currency held relatively well against its major counterparts, rallying versus the euro and the Japanese yen and staying flat versus the US dollar. The number of jobless claims rose by 7,000 in June from May while analysts promised a drop by 8,900. The unemployment rate rose unexpectedly by 0.1 percentage […]
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July 152015
Bank of Canada Makes Surprise Interest Rate Cut, CAD Tumbles
The Bank of Canada surprised the market by cutting interest rates today. The Canadian dollar tumbled, falling more than 1 percent, as a result. The drop was especially big against the US dollar as the Canadian currency reached the lowest level since March 2009. The BoC cut its main interest rate by quarter of a percentage point to 0.5 percent during today’s policy meeting. While some analysts anticipated a rate cut, for the most part […]
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July 152015
Euro Continues to Fall as IMF Points Out Current Form Isn’t Sustainable
Euro is losing ground to its major counterparts today as a report from the IMF suggests that the recent agreement reached with Greece won’t actually fix problems and that a new arrangement — likely a true fiscal union — is probably needed moving forward. The latest report from the International Monetary Fund indicates that things aren’t going well for the euro, and that the recent agreement with Greece is unlikely to provide […]
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July 152015
Yellen’s Remarks Send US Dollar Higher
US dollar is heading higher today, thanks to remarks from Janet Yellen before Congress. She remains upbeat about the economy and suggests that an interest rate hike is coming before the end of the year. Greenback is gaining ground today against its major counterparts as Federal Reserve Chair Janet Yellen speaks before Congress. She has been speaking in an upbeat manner about the economy, and says that she […]
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July 152015
Australian Dollar Attempts to Gain, Rally Fades
The Australian dollar attempted to rally today after the release of a set of positive macroeconomic reports from China. The rally was not big and currently is fading away. China’s economic growth remained at the 7 percent level in the second quarter of this year, the same as in the first quarter, while analyst predicted small slowdown to 6.9 percent. Industrial production and retail sales also exceeded forecasts. The news was positive for the Australian currency as China […]
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July 152015
Yen Weakens as Bank of Japan Revises Economic Forecast Down
The Japanese yen slipped today after the Bank of Japan concluded its policy meeting. While the central bank did not change its monetary policy, it revised economic projections for this year negatively. The BoJ announced that it is keeping interest rates near zero and the size of asset purchases at about ¥80 billion, making no surprises to market participants. Yet the central bank revised its forecast for economic […]
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July 152015
EUR/USD Falls After US Data, Yellen’s Comments
EUR/USD declined during the current trading session as basically all today’s US economic indicators came out better than expected. The dollar gained on the euro also as Janet Yellen, Federal Reserve’s Chairperson, said that the central bank is planning to raise interest rates before the year’s end. PPI rose 0.4% in June, exceeding the median forecast of 0.2%. The index rose 0.5% in May. (Event A on the chart.) NY Empire State […]
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