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Day: October 8, 2015
October 82015
Canadian Dollar Pushes Higher, Tracing Rally of Crude Oil
The Canadian dollar was strong today, rising against its US counterpart and erasing losses versus the euro. The rally of crude oil undoubtedly contributed to the currency’s strength. Crude oil rallied more than 3 percent today after Chinese markets reopened after the week-long holiday, and the nation’s stocks climbed, following other global shares. The Canadian currency profited from the news as it often follows moves of oil prices. Now, […]
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October 82015
Fed Minutes Provides Limited Support for US Dollar
The US dollar has been rather soft during today’s trading but the release of Federal Reserve’s policy minutes changed that. While the currency slipped immediately after the release, it quickly bounced and started to move up, though it looks like the currency’s upward momentum has run its course. The minutes demonstrated quite a hawkish rhetoric that suggested that chances for an interest rate hike still remain. The notes […]
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October 82015
Loonie Remains in Holding Pattern Against Major Counterparts
Canadian dollar is mostly in a holding pattern right now, keeping steady against most of its major counterparts. Even with oil prices getting a little bump today, the loonie is still mostly steady. Right now, the loonie is very connected to the US dollar and the performance related to what’s expected from the Federal Reserve. Policy divergence is doing a great deal to drive the Canadian’s dollar performance, and many Forex […]
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October 82015
Euro Recovers from Yesterday’s Disappointing German Data
Euro is higher today, after recovering from yesterday’s disappointing German data. Euro is higher across the board, gaining ground as other major currencies demonstrate weakness. Yesterday, the euro struggled as soft German industrial data caused concern about the economic prospects of the 19-nation currency region. Today, much of that concern is over as Forex traders shift focus to other regions and other currencies. The latest focus is […]
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October 82015
Great Britain Pound Falls After Bank of England Meeting
The Great Britain pound fell following the Bank of England’s monetary policy meeting. The policy minutes were not particularly hawkish, leading to speculations that British policy makers could be forced to leave interest rates at the record low for a prolonged period. The Bank of England left interest rates and the asset-purchase program unchanged at today’s gathering. The minutes (unusually, released immediately after the meeting) did not sound very optimistic, saying: The near-term […]
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October 82015
Yen Mixed Following Release of Economic Data from Japan
The Japanese yen was mixed during Thursday’s trading session following the release of economic data from Japan. The currency was up against the US dollar but down versus the Japanese yen. Core machinery orders dropped 5.7 percent in August, extending the previous month’s decline, instead of rising 3.3 percent as was predicted by analysts. At the same time, the current account was at ¥1.59 trillion, widening from the previous month while […]
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