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Day: January 18, 2016
January 182016
New Zealand Dollar Higher Ahead of Tuesday’s Economic Releases
The New Zealand dollar was higher today, after opening sharply lower on Monday, as traders were waiting for economic data from China due to release overnight. Additionally, there are a couple of reports scheduled for release from New Zealand by the end of Tuesday’s session. The New Zealand dollar followed its Australian counterpart in rally on Monday, bolstered by the positive news from China. While drop of crude oil could have been […]
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January 182016
How Will Chinese Crisis Develop? USD/CNY Perspective
What all this fuss regarding China, Shanghai stock market index, and the Chinese yuan is really about? Is it something that Forex traders should watch or is it just some fad hyped by media as a convenient hot topic? The thing is, the ongoing crisis in China is likely a major global economic factor that will affect not just USD/CNY rate but the whole world’s economy […]
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January 182016
Canadian Dollar Weakens Ahead of BoC Policy Meeting
The Canadian dollar was falling today, though the losses were relatively small. The major theme for the currency this week will be the monetary policy meeting scheduled by the Bank of Canada on Wednesday. Crude oil continued to fall today, staying below the $30 level. Crude is the key export for Canada, meaning that continuing decline of prices bodes ill for the nation’s economy. Market participants are wondering if the BoC is going […]
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January 182016
Dollar Index Moves Above 99.00
US dollar index is moving higher today, even as the greenback itself trades mixed. There is reason to suppose that the dollar will retain support, thanks to global economic uncertainty. The US dollar index, which measures the greenback’s performance against a weighted basket of currencies, is higher today. Helping the dollar index move through the 99.00 mark is the fact that the euro is lower against the dollar right […]
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January 182016
Euro Mostly Lower on Bank Concerns
Euro is mostly lower today, thanks in part to concerns about various banks and the possibility of more stimulus. All eyes are on the ECB to see what the next move might be. Euro is struggling today on the news that the ECB is inquiring into bank health again. The ECB appears to be looking at non-performing loans and hoping to tackle the bad debt that still plagues many eurozone countries. On top of that, global […]
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January 182016
Improving Market Sentiment Means Low Demand for Yen
The market sentiment was improving today, meaning that currencies perceived to be safe were not in high demand. As a result, the Japanese yen was falling against its other most-traded peers. Today’s traders’ mood was relatively positive, helping riskier currencies and making safer ones vulnerable. Additionally, the revised estimate of Japan’s industrial production showed a decline while economists had hoped for an increase. Yet analysts argue that […]
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January 182016
China Brings Good News, Australian Dollar Higher
The Australian dollar edged higher today as the market sentiment improved following good news from China. Chinese policy makers took steps to calm the yuan’s volatility while the nation’s stock market stabilized. The People’s Bank of China raised the yuan’s daily fixing and announced that it is going to implement a reserve requirement ratio on offshore banks’ domestic deposits in an attempt to deter speculation in the currency. Meanwhile, the Shanghai Stock Exchange Composite […]
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