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Day: September 25, 2015
September 252015
Dollar Ends Friday with Gains
The US dollar has ended Friday’s trading with gains as traders continued to speculate about the possibility of an interest rate hike in 2015. Yet the currency was moving down before closing, making it hard to determine how it will behave at the start of the next week. Yesterday, Janet Yellen, head of the Federal Reserve, signaled in her speech about a decent probability of monetary tightening before the year-end. Speculations about possible interest […]
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September 252015
New Zealand Dollar Rises in Face of Adverse Fundamentals
The New Zealand dollar rallied today even though macroeconomic data released earlier this week was highly negative for the currency while the market sentiment was not supportive either. Released yesterday, the trade balance data showed a growing deficit that exceeded economists’ expectations. Earlier this week, a report showed that manufacturing sector of China, the main trading partner of New Zealand, was at its worst in six years […]
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September 252015
Yen Slips as Japan Slides into Deflation
The Japanese yen was soft today after data showed that Japan slipped back into deflation, giving incentive for the Bank of Japan to expand the already extensive monetary stimulus. Data released during the Asian trading session showed that both Tokyo core CPI (for September) and national core CPI (for August) fell. While the indicators were in line with experts’ forecast, they were still not good. And this means […]
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September 252015
Euro Drops as Policy Divergence Takes Center Stage
Euro is heading lower today, falling against the sterling and greenback as policy divergence comes into play. Euro is still higher against the yen, but with expectations for higher rates in the United States and the United Kingdom, the 19-nation currency is falling behind. Even though the data out of the eurozone was reasonably encouraging this week, leaders are still far from ready to start changing policy in the 19-nation currency […]
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September 252015
Inverted Head-and-Shoulders on Hourly Chart of CAD/JPY
Normally, I do not look for chart patterns on timeframes lower than H4. But this inverted head-and-shoulders on CAD/JPY @ H1 just asks for a buy stop order. The pattern is only two days old. Its head was formed yesterday while the right shoulder is based on today’s early trading session. The price is fluctuating not far below the neckline — the whole formation is ready for a breakout. The chart […]
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September 252015
EUR/USD Falls After Yellen’s Comments, Trims Losses Later
EUR/USD dropped today, though it trimmed the losses as of now. While the currency pair was rising for the most part of Thursday’s session, it backed off from the day’s highs by the end of trading as Janet Yellen, Federal Reserve Chairperson, signaled that an interest rate hike is still probable this year. EUR/USD continued to move down today, though currently it halted the decline, most likely due to profit-taking. According […]
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September 252015
Dollar Lifted by Remarks from Janet Yellen
The US dollar was falling for the most part of Thursday’s trading session yet trimmed its losses after the head of the US central bank made unexpectedly hawkish remarks. Today, the currency is rising. Janet Yellen, Chairperson of the Federal Reserve, delivered a speech in University of Massachusetts, Amherst, closer to the end of yesterday’s session. In particular, she said: Most of my colleagues and I anticipate that it will likely be appropriate to raise the target range […]
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