EUR/USD declined during the Tuesday’s trading session as the Forex market was preparing for the Wednesday’s policy announcement from the Federal Reserve. The vast majority of market participants anticipate an interest rate lift-off, and such expectations boost the dollar against other currencies. CPI was unchanged in November on a seasonally adjusted basis, in line with market expectations, after rising 0.2% in October. (Event A on the chart.) NY Empire State Index was at -4.6 in December, […]
Read moreThe Great Britain pound fell against the US dollar today due to the policy divergence between the central banks of the United States and Great Britain. Tuesday’s data from the United Kingdom was positive enough to allow the sterling to hold ground versus the Japanese yen and the euro. Market participants question the ability of the Bank of England to start raising interest rates in the near future. At the same time, they are almost certain that the Federal Reserve […]
Read moreThe US dollar gained against its major peers today, including the euro, the Great Britain pound and the Japanese yen. The market prepares itself to the policy announcement from the Federal Reserve tomorrow. The Fed is going to announce its all-important decision about monetary policy tomorrow. Most market participants anticipate an interest rate lift-off, and today’s economic data did little to discourage such way of thinking. While the headline Consumer Price […]
Read moreCanadian dollar is heading higher today, gaining ground as oil prices surge. The chance for oil prices is producing gains for the loonie against its major counterparts. For several weeks now, the Canadian dollar has been struggling in Forex trading. Loonie is tied to oil prices, since oil is a major part of the Canadian economy. OPEC nations are refusing to cut production, and the United States has also been producing […]
Read moreThe Australian dollar ticked up a little against the US dollar and the Japanese yen today, lifted by positive domestic macroeconomic data and minutes of the latest central bank’s meeting. The minutes of the Reserve Bank of Australia December meeting were rather hawkish, saying: Members noted that recent domestic data had generally been positive. At the same time, they stated that “the outlook for inflation may afford some scope for a further easing of monetary […]
Read moreThe South African rand slowed its rally after yesterday’s big jump. Despite the welcomed change of the financial minister, investors remained unconvinced about the government’s ability to tackled economic challenges that lay before it. On Monday, South Africa changed its third finance minister in less than a week. Yet uncertainty about the future of the nation’s economy remains as it was made evident by the comments of Fitch Ratings (the agency that […]
Read more