The Canadian dollar fell against its US peer today as Canada experienced deflation last month. The currency was little changed against the Japanese yen and gained on the very soft euro. Canada’s Consumer Price Index dropped 0.2 percent in September from the preceding month while experts had promised a smaller drop by 0.1 percent. The core components of the index actually rose, but the increase trailed analysts’ expectations. Unlike yesterday, […]
Read moreThe Australian dollar attempted to rally today on the back of good news from China. The currency had been successful at first but has pared gains after the initial surge, losing them almost completely against the US dollar. The People’s Bank of China announced today: The one-year RMB benchmark loan interest rate and deposit interest rate will both be lowered by 0.25 percentage points, to 4.6 percent and 1.75 percent, respectively. […]
Read moreUS dollar index is extending its recent rally, and between yesterday and today has erased its earlier losses in October. Thanks to expectations for a Federal Reserve rate hike sometime in late 2015 or early 2016, plus policy divergence expectations, the greenback is surging against its major counterparts. There is a great deal of support for the US dollar right now. Thanks to recent comments from Mario Draghi, and the fact […]
Read moreEuro is still losing ground after yesterday’s ECB meeting. And now, some analysts say that the euro could end up in parity with the US dollar by the end of the year. Yesterday’s ECB meeting brought out comments from Mario Draghi to the effect that the central bank is willing to do what it takes in an effort to stimulate the eurozone economy. The remarks from policymakers are encouraging the idea that if […]
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