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Day: August 19, 2015
August 192015
Vietnam’s Central Bank Devalues Dong
The Vietnamese dong dropped today as Vietnam’s central bank devalued the currency for the third time this year. Nation’s policy makers weakened the currency in hopes to counter the fallout from Chinese economic slowdown and potential currency wars. The rapidly falling yuan can increase the already substantial trade deficit between Vietnam and China, and that prompted the State Bank of Vietnam to set the reference rate for the dong 1 percent lower and widen the range in which […]
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August 192015
China Drives New Zealand Dollar Lower
Economic data from New Zealand was not particularly positive today, but it was likely not the reason for the drop of the New Zealand dollar. News from China, the biggest trading partner of the South Pacific nation, was the driving force behind the decline. Both input and output New Zealand Producer Price Indexes fell last quarter, but the reading could not be considered really bad as the decline was […]
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August 192015
Euro Heads Higher After German MPs Approve Greek Bailout
With Germany backing the latest bailout for Greece, the euro is heading higher today. There’s a lot to consider when it comes to the eurozone and the euro, and the latest bailout means that, for now, there will be no exit from the 19-nation currency union for Greece. Questions about whether or not German politicians would approve the latest Greek bailout have been swirling for weeks now. Those questions have been answered […]
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August 192015
Canadian Dollar Remains Lukewarm
Canadian dollar remains lukewarm in Forex trading against its major counterparts today. There isn’t a whole lot to either push the loonie forward or drag it back, and it is mostly rangebound today. Even though Canadian Prime Minister Steven Harper recently insisted that there is room for solid growth for the economy, evidence of this growth isn’t likely to be immediately forthcoming. Instead, the Canadian economy seems […]
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August 192015
EUR/USD Shoots to Upside After FOMC Minutes
The Federal Open Market Committee released the minutes of its latest policy meeting, revealing that many policy makers thought that the time for an interest rate hike approaches. Yet the market considered the minutest to be somewhat dovish, leading to a big drop of the dollar versus the euro. There are still analysts who believe that a September hike remains possible, but it is important to remember that the FOMC meeting had […]
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August 192015
Turkish Lira Holds Ground After Central Bank Maintains Interest Rates
The Turkish lira rose a little versus the US dollar and traded sideways against the euro following yesterday’s decision of the Turkish central bank to hold interest rates steady. The Central Bank of the Republic of Turkey decided to keep borrowing costs unchanged, including the benchmark overnight interest rate that remained at 10.75 percent. The central bank was talking about possibility of tighter monetary policy, but experts consider monetary tightening unlikely. Weak […]
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