US dollar is heading higher as risk aversion appears in the market, and as commodities continue to struggle. There is a lot happening right now that points to a higher greenback, and it is little surprise that the US currency is once again moving higher against its major counterparts. US dollar is gaining ground today against its major counterparts, thanks in large part to much of what’s happening around […]
Read moreEuro is struggling again as eurozone leaders gather to talk about unemployment. Concerns that economic gains aren’t translating into jobs are weighing on policymakers and others. Of special concern is the disparity in joblessness between northern European countries and those in the south. Right now, eurozone leaders are meeting to discuss the challenges of unemployment in the eurozone. Even though the jobless rate is one of the lowest in three years, sitting at 10.9 per […]
Read moreThe New Zealand dollar attempted to rally today following yesterday’s big slump. The currency backed off after the initial gain and remained close to the opening level. Economic data from New Zealand was mixed, giving the kiwi no clear bias. On the positive side, the Business NZ Manufacturing Index improved in August, showing expansion of the manufacturing sector. On the negative side, food prices went into deflation last month. The New Zealand […]
Read moreThe Japanese yen paused its decline today but will likely end the week as the weakest among major currencies. The yen had limited support from Japanese macroeconomic data released during Friday’s trading. The BSI Manufacturing Index climbed 11.0 percent during the third quarter of this year, providing a surprise to analysts, most of whom were counting on decline. The positive report supported the currency but only to a limited degree. Traders […]
Read moreEUR/USD continued to march upward on Friday as traders speculated whether the Federal Open Market Committee hikes interest rates next. The worse-than-expected US consumer confidence index supported the view that markets will not see a rate hike in September. Such outlook is detrimental to the dollar, allowing the euro to gain on the US currency. Seasonally adjusted PPI showed no change in August after falling 0.2% in July. Forecasters had predicted […]
Read more