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Day: August 28, 2015
August 282015
Dollar Bounces as Fischer Doesn’t Discard Possibility of September Hike
The US dollar was rather soft for the most part of Friday’s session but bounced by the close with support of comments from Federal Reserve Vice Chairman Stanley Fischer. Fischer was talking to CNBC today, and he said that “there was a pretty strong case” for a September interest rate hike. He then added that the central bank should not wait too long before starting monetary tightening. Other […]
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August 282015
Crude Oil Prices Rescue Canadian Dollar
The Canadian dollar was falling for the most part of Friday’s trading session but reversed its movement as of 14:00 GMT and currently almost erased its losses. The reason for such behavior was the sudden surge of oil prices. Crude oil were also performing poorly during the current session, dragging oil-related currencies down. Yet prices resumed its rally recently, rescuing the Canadian dollar from the decline. It is hard […]
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August 282015
Eurozone Economic Confidence Rises and Sparks Hope for Euro
Economic confidence in the eurozone rose unexpectedly in August. This surprise development in the 19-nation currency region has sparked a little hope for the euro, and sent it higher against some of its major counterparts. Euro is still struggling against macroeconomic issues right now, but the latest confidence in the eurozone should help a little. According to the European Commission, an index measuring economic confidence in the eurozone rose from 104 to 104.2 for August. A prediction […]
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August 282015
Ruble Pulls Back After Massive Gains
The Russian ruble fell on Friday, dragged down by falling crude oil prices. Today’s drop followed yesterday’s massive gains that were also caused by moves of prices for crude. The price for Brent crude oil fell 0.44 percent to $47.35 today in New York. This hurt the ruble, and demand for foreign currency by local companies also contributed to the decline. Yesterday, the Russian currency surged 4 percent as oil prices demonstrated the biggest […]
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August 282015
Pound Extends Decline for Third Session
The Great Britain pound extended its drop for the third straight day against the US dollar during the Friday’s trading session. The currency found little support from domestic macroeconomic data even though indicators were rather good. UK gross domestic product expanded 0.7 percent in the second quarter of this year according to the second estimate — unchanged from the first estimate and in line with expectations. The GfK UK Consumer […]
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August 282015
EUR/USD Fails to Extend Rally
EUR/USD was trying to extend its rally for yet another day on Friday and has been successful at first. Yet the currency pair halted its advance as of 8:30 GMT and was moving down since, reaching the opening level and attempting to go lower. Whatever the reason for such behavior, it is not US economic data, which was not as good as dollar bulls had hoped for. Personal income and spending rose […]
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August 282015
Japanese Yen Continues Move Down, Halts Drop vs. Dollar
The Japanese yen fell for the second trading session against the euro and the Great Britain pound today. The currency has also dropped for three days versus the US dollar but paused the decline at the start of the Friday’s session. One of the reasons for the yen’s drop is the fact that fears caused by China’s stock market collapse subsided, making traders less interested in safety of the Japanese currency. Another reason is the Friday’s economic data from […]
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August 282015
Dollar Gains as Market Stabilizes, Data Supports
The US dollar gained on Thursday and retained its strength during the early hours of the Friday’s trading session. The currency rallied as markets stabilized after China’s scare. US economic data was also somewhat supportive for the greenback. The second estimate of US gross domestic product showed that the economy expanded by 3.7 percent in the second quarter of this year. The reading was above both the median analysts’ forecast and the first estimate, not to mention […]
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