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Day: November 5, 2015
November 52015
EUR/USD Sinks as Yellen Talks About December Hike
EUR/USD tumbled on Wednesday as Fed Chairperson Janet Yellen said than an interest rate hike in December is “a live possibility.” (Event D on the chart.) US economic data released over the trading session supported the case for monetary tightening, being rather good. ADP employment grew by 182k in October, in line with expectations. The September’s increase was revised slightly from 200k to 190k. (Event A on the chart.) US trade balance deficit […]
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November 52015
E-Book Review: Impact of Economic News on Financial Markets
Reviewing an economics study paper that is 8 years old but is still relevant today is an odd experience. The Impact of Economic News on Financial Markets published by John C. Parker in April 2007 is a good example of such a document. John is an econometrician with nearly 40 years of experience now and is currently working as a Chief Economist at Impact Infrastructure. He wrote this e-book while being […]
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November 52015
Loonie Struggles After Scotiabank Forecast
Canadian dollar has been struggling recently in Forex trading, and the latest forecast from Scotiabank isn’t helping matters. With predictions for a weak loonie through 2017, the currency is once again heading lower. The latest forecast from Scotiabank calls for the Canadian dollar to possibly bottom out near 73 cents on the US dollar by the end of the year, and then fall even further during 2016. In fact, Scotiabank doesn’t expect the loonie […]
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November 52015
Euro Clings to Recent Gains on European Commission Forecasts
Euro is clinging to some earlier gains — but only just. With the ECB due to make a policy announcement and the European Commission making forecasts that expect to see slower growth, many expect the 19-nation currency to slip more against the US dollar. So far today, the euro is managing to hold on to some of its recent gains. However, even though EUR/USD has managed to move about the 1.10 level, many […]
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November 52015
Dollar Soars After Yellen Talks About Possibility of December Rate Hike
The US dollar jumped on Wednesday and retained it gains today after Federal Reserve Chairwoman Janet Yellen confirmed the possibility of an interest rate hike in December. US economic data was also supportive for the greenback. Yellen was testifying on Wednesday in her first public speech since the last week’s policy announcement from the Fed. She said: If the incoming information supports that expectation then our statement indicates that […]
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