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Day: October 1, 2015
October 12015
Canadian Dollar Rallies for Second Day
The Canadian dollar gained for the second consecutive session on Thursday as the weakness of US dollar, the rally of crude oil and positive economic data supported the currency. The softness of the greenback was helping other currencies, and the loonie was one of the strongest against its major counterpart. While experts and US policy makers talk about a December interest rate hike, markets clearly do not believe them, adding to the weakness of the US currency. Crude oil […]
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October 12015
Dollar Soft Ahead of Non-Farm Payrolls
The US dollar was soft during Thursday’s trading as economic data from the United States was not particularly favorable. Losses were not big, though, and the currency may yet bounce if non-farm payrolls turn out to be good. Institute for Supply Management reported that manufacturing Purchasing Managers’ Index fell from 51.1 percent in August to 50.2 percent in September. Claims for unemployment benefits rose by 10,000 to 277,000 […]
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October 12015
Brazilian Real Drops amid Political Uncertainty
The Brazilian real dropped against the US dollar today as political uncertainty and turmoil in the country were not helping to make the currency attractive to overseas investors. Brazilian Congress was pushing for legislation that would prevent an increase of public spending, but President Dilma Rousseff vetoed the move. Congress may yet vote to overrun the veto. Otherwise, further downgrade of the country’s credit grade by rating agencies is not unlikely. USD/BRL gained […]
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October 12015
Russian Ruble Gains as Manufacturing Slows Decline, Erases Rally
The Russian ruble gained today as a report released during the current trading session showed that the nation’s slowed its decline last month. The currency has not been able to keep gains, though, and trades below the opening level currently. Markit manufacturing Purchasing Managers’ Index for Russia climbed 47.9 in August to 49.1 in September. While the reading below 50.0 still indicates contraction of the sector, it was the slowest decline since […]
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October 12015
EUR/USD Carves Out Gains
EUR/USD managed to carve out gains during the Thursday’s trading session as a couple of economic indicators released from the United States today were disappointing. This includes the increasing jobless claims and the drop of ISM manufacturing PMI. The gains of the currency pair were meager, though, as the market prepares itself for the tomorrow’s release of nonfarm payrolls. Initial jobless claims rose from 267k to 277k last week, a bit above analysts’ expectations of 273k. […]
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