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Day: July 29, 2015
July 292015
CAD Gains vs. EUR & AUD, Loses Gains vs. USD
The Canadian dollar gained against the euro and the Australian dollar today after a report showed that US inventories of crude oil shrank unexpectedly last week. The currency had also rallied against the US dollar but has lost its gains after the Federal Reserve concluded its policy meeting. The US Energy Information Administration reported today that US oil inventories fell by 4.2 million barrels to 459.7 million. […]
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July 292015
Dollar Climbs After Fed Concludes Two-Day Policy Meeting
The Federal Reserve ended its two-day meeting today, making no changes to its monetary policy — a move that surprised no one. The US dollar rallied after the event even though the Fed’s policy statement could not be called particularly hawkish. The Fed talked in the statement about moderate pace of economic growth. Regarding timing of the long-anticipated interest rate hike, the report did not give a specific data but […]
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July 292015
Interest Rate Expectations Help UK Pound
UK pound is heading higher today, thanks in part to expectations that a rate increase from the Bank of England could be coming by the end of 2015 or around the beginning of 2016. With growth accelerating in the United Kingdom, expectations for the pound are growing. The latest GDP data indicates that the UK economy grew by 0.7 per cent during the last quarter. This is an interesting benchmark since Bank of England Governor Mark […]
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July 292015
US Dollar Index Inches Higher Ahead of Today’s Fed Announcement
Forex traders and others are getting ready for a policy announcement from the Federal Reserve later today. Once again, expectations are that the Fed will raise rates sometime this year, and there are officials that think that there is room for two rate hikes in 2015. With higher rates on the way, the dollar is gaining strength. While the greenback is trading mixed against its major counterparts, […]
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July 292015
NZ Dollar Flat During Quiet Trading
The New Zealand dollar was flat against the US dollar and the Japanese yen during quiet Wednesday’s trading. The currency got a bit of support from the comments of the nation’s central bank chief. Graeme Wheeler, Governor of the Reserve Bank of New Zealand, who has cut interest rates recently, said today that additional monetary easing is likely. At the same, time he downplayed dovish expectations, saying that large rate […]
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July 292015
Australian Dollar Under Pressure as Traders Wait for Fed
The Australian dollar was lower today, though the losses were limited. The Aussie, as well as most other currencies, was under pressure as traders wait for conclusion of the US Federal Reserve policy meeting. The Fed will announce its policy decision today, though no changes to the monetary policy are expected. Still, market participants hope to see hints at the timing for such changes to occur. The vast majority of speculators count on the US central […]
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July 292015
EUR/USD Fails to Rally on FOMC Statement
EUR/USD fell today even though data released during the current trading session was favorable to the currency pair. Neither falling pending home sales, nor FOMC statement, which was somewhat dovish, could help the euro to gain on the dollar. The shared 19-nation currency attempted to shoot to upside after the release of the policy statement but lost its gains very quickly. Pending home sales fell 1.8% in June instead […]
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