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Day: October 6, 2015
October 62015
Dollar’s Weakness Helps Euro
The euro rallied against other major currencies on the back of the weak US dollar today even though the situation in the eurozone itself did not promote a rally of the shared 19-nation currency. The US dollar was experiencing troubles following the release of abysmal employment data on Friday. Monday did not bring anything positive to the US currency, just a couple of poor manufacturing reports. And Tuesday was no better with the report that showed […]
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October 62015
Crude Oil Fuels Rally of Canadian Dollar
The Canadian dollar gained for the fifth straight day against the US dollar and the Japanese yen today, carried higher by the rally of crude oil prices. The Canadian currency was unable to beat the surprisingly strong euro. Crude oil rallied more than 5 percent today before paring gains. The rally followed speculations that major oil-producing countries may cut output and forecasts that global demand will increase. The advance of oil […]
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October 62015
Yen Mostly Lower as BOJ Meeting Starts
Japanese yen is mostly lower today, dropping as many expect the Bank of Japan to ease its monetary policy at some point this month. While there is a policy meeting set for today and tomorrow, another is set for October 30. With the Japanese economy slowing still, and with concerns about China’s impact on the global economy, there are concerns amongst policymakers. As a result, many expect that the Bank of Japan […]
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October 62015
Greenback Continues to Ease Against Its Major Counterparts
US dollar uptrends seem to be reversing right now as concerns about the economy and expectations of policy divergence are reduced. Greenback is mostly lower today against its major counterparts, thanks in large part to the fact that recent economic has been disappointing and many expect the Federal Reserve to hold off on interest rate hikes until early next year. With the most recent jobs data a disappointment, and with […]
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October 62015
Falling Business Confidence Prevents NZ Dollar from Rally
The New Zealand dollar was little changed during the Thursday’s trading session as negative macroeconomic data from New Zealand prevented the currency from joining its Australian counterpart in a rally. New Zealand Institute of Economic Research reported that business confidence fell to the lowest level since March 2011. The report attributed the pessimism to the downside inflationary pressure. This led to the outlook for an interest rate cut: The weak inflation environment suggests […]
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October 62015
Australian Dollar Rallies for Fifth Day Following RBA Decision
The Australian dollar rose today, rallying for the fifth consecutive trading session versus the US dollar and the Japanese yen. The currency gained following the monetary policy decision of Australia’s central bank. The Reserve Bank of Australia kept its main interest rate unchanged at 2 percent at today’s meeting and issued a policy statement that was considered rather hawkish by market participants. The Aussie climbed following the announcement, also getting support from speculations […]
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