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Day: November 24, 2015
November 242015
EUR/USD Fails to Rally
EUR/USD was attempting to rally today but failed. The second estimate of US economic growth, which was better than the first one, and positive housing data lent support to the dollar. Yet worse-than-expected indicators for manufacturing and the consumer sentiment prevented the greenback from moving higher. US GDP rose 2.1% in Q3 2015 according to the preliminary (second) estimate, in line with market expectations. The advance (first) estimate showed 1.5% growth. […]
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November 242015
UK Sterling Down on Diminishing Prospects for Rate Hike
The Great Britain pound fell today due to concerns that the struggling economy will not allow the nation’s central bank to raise interest rates as soon as was expected. Mark Carney, Governor of the Bank of England, sounded somewhat cautious during his speech today. Earlier, BoE Chief Economist Andy Haldane said: I see the balance of risks around UK GDP growth and inflation as skewed materially to the downside, more so than […]
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November 242015
Turkish Lira Weakens on Monetary Policy & Risk Aversion
The Turkish lira fell against the US dollar today after the nation’s central bank kept interest rates unchanged, refraining from monetary tightening. The crash of the Russian warplane, shot by Turkish military forces, fueled risk aversion and thus the weakness of the currency. The Central Bank of the Republic of Turkey kept its borrowing costs stable, leaving its Marginal Funding Rate at 10.75 percent and the borrowing rate at 7.25 percent. Experts say that […]
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