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Day: January 21, 2016
January 212016
EUR/USD Dips After ECB Hints at Additional QE in March
EUR/USD dipped today after the European Central Bank kept monetary policy unchanged but hinted during the press-conference at additional quantitative easing in March. (Event A on the chart.) Currently, the euro is attempting to recover versus the dollar, but for now the currency pair trades below the opening level. The drop was limited by today’s US economic data that was not very good and prevented the greenback from rallying too much. Philadelphia […]
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January 212016
Draghi Statement Sends Euro Lower Against Majors
It’s been an interesting week in the financial markets, and now the ECB is adding its bit. The latest statement from Mario Draghi is sending the euro lower against its major counterparts as Forex traders get ready for more easing. This month, as expected, the ECB kept rates steady. After the disappointment in December, few analysts expected policymakers to make a move. However, ECB President Mario Draghi did surprise nearly […]
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January 212016
Russian Ruble Drops Along with Crude Oil
The Russian ruble declined today as prices for crude oil continued to fall, endangering the Russian economy that largely depends on oil exports. Crude oil extended its move down during the Thursday’s trading session, touching the lowest level since 2003. This hurt oil-linked currencies, like the Norwegian krone and the Russian ruble. Additionally, the Russian economy continues to suffer from sanctions imposed on Russia by Western nations due to its supposed […]
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January 212016
Ringgit Higher After Malaysian Central Bank Decreases SRR
The Malaysian ringgit gained against the US dollar today after the nation’s central bank kept interest rates steady and decreased its reserve requirements ratio. The Bank Negara Malaysia kept its key Overnight Policy Rate at 3.25 percent during today’s policy meeting as was expected by analysts. The central bank said in the statement: At the current level of the OPR, the stance of monetary policy remains accommodative and supportive of economic activity. The MPC recognises […]
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