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Day: August 20, 2015
August 202015
Euro Jumps with Help of Fed Minutes & Greek Bailout
The euro jumped today against its most-traded counterparts, climbing more than 1 percent against the US dollar. Both domestic and overseas news contributed to the rally of the shared 19-nation currency. One of the major contributors to the euro’s strength was the weakness of the dollar. The greenback fell after the dovish Federal Reserve minutes, helping other currencies to rally. Yet this alone could not explain the surge of the euro, as it rallied not just […]
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August 202015
US Dollar Remains Soft
The US dollar extended its weakness today following yesterday’s minutes of the Federal Reserve’s latest policy meeting. Economic reports from the United States were mixed today, but traders preferred to pay attention to the negative part of the data. Thursday’s US macroeconomic data did not give an edge to the dollar one way or the other. On one hand, jobless claims rose unexpectedly last week and the leading indicators demonstrated a surprise drop […]
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August 202015
Retail Sales Weigh on UK Pound
The latest retail sales data out of the United Kingdom has disappointed analysts and the pound is heading lower as a result. Concerns that the Bank of England won’t be ready to tighten monetary policy are weighing on the sterling. Sterling’s recent rally has been halted, thanks to the release of the most recent retail sales data. Even though retail sales increased from June to July, they didn’t increase as much as expected. On top […]
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August 202015
Risk Aversion Weighs on Australian Dollar
Aussie is heading lower right now, thanks in large part to uncertainty and risk aversion. Lower stocks and commodity losses earlier are contributing to a lower Australian dollar right now. Earlier, commodities including gold and oil fell back. Even though both commodities are moving higher right now, commodity currencies like the Australian dollar remain spooked. Aussie is struggling right now, after seeing some […]
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August 202015
EUR/USD Extends Move Up
EUR/USD continued to move higher following yesterday’s minutes of the Federal Reserve that were considered dovish by market participants. Today’s economic data from the United States was mixed, though traders paid attention mostly to the negative part. Traders now consider the possibility of a delayed interest rate hike, and this gives the euro an edge on the dollar. Initial jobless claims rose from 273k to 277k last week while analysts had […]
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August 202015
Crude Oil Prices Drag Canadian Dollar Down
The Canadian dollar sank yesterday and retained its weakness today as falling crude oil prices dragged the currency down along with them. The drop of the US dollar could have helped the loonie, but in practice it had a minimal impact if any at all. Crude oil continued to fall, trading below the $50 level. Prices dropped on Wednesday due to the unexpected buildup of US reserves that increased concerns about oversupply […]
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August 202015
Dollar Weaker After Fed Minutes
The US dollar dropped yesterday after the release of the Federal Reserve policy minutes and continued to move lower today (though not against all major rivals). The report sent a confusing message to the markets, but most market participants considered it to be dovish. The Fed released the minutes of its July meeting yesterday. On one hand, they said that many policy makers thought the time for an interest rate lift-off is nearing: […]
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