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Day: July 31, 2015
July 312015
Canadian Dollar Dragged Down by Oil Prices & Falling GDP
The Canadian dollar was extremely weak today, falling even against the soft US dollar. The Canadian currency was dragged down by the slump of crude oil prices and the unexpected decline of Canada’s economy. Canadian gross domestic product fell 0.2 percent in May, demonstrating the fifth consecutive monthly decline. Market participants had hoped ahead of the report that it would show a zero change. Crude oil prices sank more […]
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July 312015
Dollar Loses Strength in Friday’s Trading
The US dollar started the last trading session of this week on a strong footing but was unable to retain its strength to the end of trading. The currency is now broadly lower against other majors, falling more than 1 percent against the euro. US economic data was weighing on the greenback, pushing it lower. Growth of the employment cost index slowed to 0.2 percent in the second quarter of this year from 0.7 […]
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July 312015
Australian Dollar Declines
The Australian dollar declined today even though domestic fundamentals were not particularly bad. The most likely reason for the currency’s poor performance is the outlook for monetary tightening from the Federal Reserve that drives most currencies down. The Aussie followed the kiwi in the decline even though the Australian economic data was not nearly as bad as the New Zealand one. While growth of the Producer Price Index and private sectors credit slowed […]
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July 312015
New Zealand Dollar Goes Lower as Business Confidence Wanes
The New Zealand dollar dropped during the current trading session as today’s data showed that business confidence is waning in the South Pacific Nation. The ANZ Business Confidence sank as low as -15.3 in July from -2.3 in June. The report said that there is no need to be overly pessimistic: Such readings in themselves do not mean the economy is becalmed. Political vagaries, the weather, those winter blues, and the general […]
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July 312015
EUR/USD Bounces After Three-Day Decline
EUR/USD jumped more than 1% today, almost erasing the previous three-day decline. Some attributed the bounce to a couple of negative economic reports from the United States (particularly the weak employment cost index — event B on the chart). Others pointed at data from the eurozone that showed acceleration of core inflation. (Event A on the chart.) Whatever the reason, the dollar had been much stronger earlier during the current session but has […]
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