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Day: October 22, 2015
October 222015
EUR/USD Sinks After ECB Hints at Additional Stimulus
EUR/USD sank almost 2 percent during the current trading session. While economic reports from the United States were good for the most part, they were not the main reason for the big slump. The most important perpetrator in the decline was the comments of Mario Draghi, President of European Central Bank. (Event A on the chart.) He kept monetary policy unchanged but hinted that the ECB is likely to expand monetary stimulus in December. […]
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October 222015
Ruble Gains with Crude Oil Prices
The Russian ruble rose against the US dollar with the help of rising crude oil prices. Comments from Russian President Vladimir Putin perhaps also played a part in the ruble’s rally. Crude oil gained today, helping currencies related to the commodity. The ruble was among them as the Russian economy strongly depends on oil export. Meanwhile, Putin said that the currency has stabilized: The national currency is subject to certain market […]
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October 222015
Canadian Dollar Demonstrates Strong Gains, Ignoring Domestic Data
The Canadian dollar demonstrated big gains against its major rivals today, even against the very strong US currency. The loonie managed to rally even though domestic macroeconomic data was not particularly good. Canada’s retail sales grew 0.5 percent in August from July, beating analysts’ expectations. Yet the big negative was the core part of the indicator, which excludes volatile automobile sales. It was flat […]
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October 222015
Pound Unable to Beat Dollar, Gains on Battered Euro
The Great Britain pound attempted to rally against the US dollar today on the back of the very good retail sales report but failed as the greenback surged following the European Central Bank policy meeting. Of course, the sterling gained on the vulnerable euro, which had been hurt by the comments of the ECB President. UK retail sales grew 1.9 percent in September from August. It was a far bigger increase than 0.3 percent promised […]
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October 222015
US Dollar Index Surges Higher After ECB Announcement
Greenback is heading higher today as the latest ECB announcement is made. Concerns that the Fed won’t raise rates until next year are being overcome by the insinuations that more quantitative easing could be coming for the eurozone by the end of the year. The US dollar index is higher today as the greenback gains against the euro, pound and yen. US dollar is mostly higher today, gaining as Mario Draghi hints […]
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October 222015
Euro Sinks as Draghi Hints at Additional QE
The euro sank today following the monetary policy meeting of the European Central Bank. While the monetary policy itself remained unchanged, ECB President Mario Draghi sent a stronger signal about the possibility of additional quantitative easing. The ECB left interest rates unchanged at today’s meeting, including the benchmark interest rate on the main refinancing operations that remained at 0.05 percent. But the real downer for the euro was the comments from the President. Draghi […]
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October 222015
Aussie Little Changed During Early Thursday’s Trading
The Australian dollar was little changed today after the release of Quarterly Business Survey from National Australia Bank. Yesterday, the currency dropped together with commodity prices. The NAB survey showed that business confidence fell from 4 in the second quarter of 2015 to 0 in the third quarter. The report warned that the data was a bit old and perhaps did not reflect the current situation: The fall in confidence is likely a reflection […]
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