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Day: July 30, 2015
July 302015
Euro Drops as IMF Will Not Provide Aid for Greece
The euro was in rout today after a report that the International Monetary Fund will not participate in the third round of the bailout for Greece. Prospects for monetary tightening in the United States put additional pressure on the euro, as well as on other currencies. Financial Times reported today that Greece’s “high debt levels and poor record of implementing reforms disqualify Greece from a third IMF bailout of the country.” This means that some eurozone countries […]
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July 302015
US Dollar Continues Move Upward
The US dollar extended its yesterday’s rally today, rising against most of its major peers, even though US economic growth was somewhat disappointing last quarter. The Great Britain pound attempted to resist the dollar’s strength but was unable to keep gains. According to the first (advance) estimate, US gross domestic product grew 2.3 percent in the second quarter of 2015, less than economists had predicted — […]
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July 302015
Australian Dollar Attempts to Defy Adverse Fundamentals
The Australian dollar attempted to rally today, defying adverse fundamentals, but the rally has been limited so far. In fact, the currency retreated to the opening level against its US peer, though managed to keep gains versus the Japanese yen. Australian building approvals sank as much as 8.2 percent in June from May, about 10 times the analysts’ expectations. The poor data added to the downside pressure on the Aussie caused by yesterday’s policy […]
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July 302015
NZ Dollar Moves Down After Domestic Data & Fed Statement
The New Zealand dollar fell today, driven down both by domestic macroeconomic data and by the monetary policy statement of the Federal Reserve. The currency was moving down for the past two days, but the drop was not enough to erase the huge Tuesday’s rally. New Zealand building permits dropped 4.1 percent in June after showing no change in the preceding month. Yesterday, the Federal Reserve released a policy statement that left an open […]
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July 302015
EUR/USD Retains Bearish Momentum
The dollar was broadly higher against other currencies, including the euro, following yesterday’s release of the Federal Reserve policy statement. It looks like traders considered the Fed’s stance to be hawkish enough to continue betting on a September interest rate hike. Today’s report about US economic growth did not change that outlook, even though it was a bit below expectations. US GDP rose 2.3% in Q2 […]
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