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Day: January 7, 2016
January 72016
UK Pound Continues to Soften Against Dollar and Euro
UK pound is heading lower again, dropping as concerns about the economy continue to weigh. This time slightly disappointing PMI is leading to a lower sterling. Sterling continues to struggle in currency trading, especially against the euro and the dollar. UK pound is being affected by the latest PMI readings. Service sector PMI came in at 55.5, when many analysts had expected to see 55.6. Even though the data was slightly […]
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January 72016
South African Rand Touches Record Low as China Scares Markets
The South African rand tumbled today, demonstrating the biggest drop among most-traded currencies and touching the historic low. The reason for the dive was yet more bad news from China. The Shanghai Stock Exchange Composite Index sank 7 percent at the start of today’s trading. This prompted China to close markets as a measure to prevent further slide. Chinese policy makers also devalued the yuan to the lowest level since March 2011 in a bid […]
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January 72016
Australian Dollar Moves Further Down
Today, the Australian dollar declined for the fourth day in a row against the US dollar and the sixth session versus the Japanese yen. Economic data from Australia was mixed, giving no edge to the currency, while China remained a major source of concerns for investors. Australia’s building approvals sank 12.7 percent on a seasonally adjusted basis in November, ten times the drop predicted by specialists. On the bright side, the trade balance deficit shrank to A$2.91 billion […]
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