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Day: December 1, 2015
December 12015
EUR/USD Bounces After Four-Day Decline
EUR/USD gained for the first time in five sessions during Tuesday’s trading as manufacturing data from Institute for Supply Management was unexpectedly poor, demonstrating the first contraction in the sector in three years. The news was detrimental to the dollar, making speculators doubt whether the Federal Reserve would hike interest rates this month. Markit manufacturing PMI fell from 54.1 in October to 52.8 during November according the final estimate. It was […]
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December 12015
European Data, Doubts About ECB, Help Euro
Euro is higher today, gaining ground after the latest round of economic data, and as Forex traders start to doubt whether or not the ECB really will ease enough to keep the euro down. Due to expectations that the ECB will announce more stimulus for the eurozone, the 19-nation currency has fallen quite a bit against the dollar over the course of the last six weeks. Today, the euro is getting a bit of relief, though. The latest unemployment […]
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December 12015
Yuan Little Change After IMF Makes It Reserve Currency
The Chinese yuan was little changed against the US dollar today after the International Monetary Fund decided yesterday to include the currency in its basket of currencies that make up the Special Drawing Right (SDR). The IMF announced inclusion of the Chinese renminbi (RMB) in its basket of reserve currencies, saying: The Board today decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined […]
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December 12015
Franc Weakens as Negative Data Reinforces Case for Stimulus
The Swiss franc fell against the euro and erased its previous gains versus the US dollar today as the stagnating economy and falling retail sales contributed to speculations that the Swiss central bank will ease its monetary policy further during this month’s policy meeting. Switzerland’s economy showed no growth in the third quarter of this year while economists had expected the same 0.2 percent rate of increase as in the previous three […]
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