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Day: July 20, 2015
July 202015
Pound’s Rally Losing Steam
The Great Britain pound is struggling against other major currencies today. While the outlook for the Bank of England’s monetary policy remains very supportive for the currency, it looks like the last week’s rally is losing steam. Comments from BoE chief Mark Carney provided strong support for the currency, allowing it to become the best performer on the Forex market last week. Some experts question the reasons for the rally, though particularly […]
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July 202015
US Dollar Mixed in Quiet Trading, Remains Strongest in Three Months
The US dollar demonstrated mixed performance during Monday’s quiet trading but remained strong in general. The Dollar Index remained near the highest level in three months. The outlook for monetary tightening has been supporting the US currency for a long time. Last week, Federal Reserve chief Janet Yellen said in her speech that an interest rate lift-off is likely going to happen this year. The comments allowed the dollar to become […]
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July 202015
Loonie Continues to Struggle Along With Oil
Canadian dollar is struggling again today, thanks in large part to continued concern over last week’s surprise rate cut and due to falling oil prices. Loonie is lower again today, approaching levels not seen since 2009. Last week, citing concerns over economic growth, the Bank of Canada unexpectedly cut interest rates. The news sent the loonie lower as speculation about the state of the Canadian economy rose. Also […]
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July 202015
Another Week of Strength for US Dollar?
The US dollar has been rather strong lately, being the second best performer on the Forex market last week. Can the currency continue its amazing performance this week? The most important factor contributing to the strength of the greenback is the probability of an interest rate hike this year, perhaps even as early as September. Some experts point out that the Federal Reserve talked about slow pace of rate increases, and an early hike […]
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July 202015
Euro Ekes Out Gains After Rough Week
Last week was rough for the euro, thanks to the continued drama over Greece, and concerns about what’s next for the euro. This week, the 19-nation currency seems to be ready to start off on better footing and is eking out gains. However, some of those gains may be due mainly to profit taking as Forex traders look to benefit from recent runups by other currencies. Euro is starting off the new week […]
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July 202015
South African Rand Races Down
The South African rand was one of the weakest currencies on the Forex market today. The reason for such poor performance was the decline of prices for raw materials. The rand was the second weakest of emerging-market currencies during Monday’s trading while the first one was the Turkish lira. The South African economy depends of its commodity export, and raw materials did not perform that well lately. In fact, gold had sunk more than […]
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July 202015
NZ Bounces After Prime Minister Comments on Currency’s Drop
The New Zealand dollar climbed today, bouncing from the multi-year lows it has reached last week, after the nation’s Prime Minister voiced concerns about the size of the currency’s drop. The New Zealand dollar was falling lately due to the prospects for an interest rate cut as early as this week. Over the last year, the currency has declined 25 percent. Prime Minister John Key commented today that the speed of the fall […]
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