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Day: January 22, 2016
January 222016
EUR/USD Moves Lower as European PMI Disappoint
EUR/USD extended its move down today as the vast majority of European Purchasing Managers’ Indexes came out below market expectations (though most of them remained safely above the neutral 50.0 level). Meanwhile, US economic data was positive for the most part with the exception of falling leading indicators. Flash Markit manufacturing PMI ticked up from the 38-month low of 51.2 in December to 52.7 in January. It was a nice […]
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January 222016
Dollar Higher vs. Euro & Yen, Mixed vs. Other Majors
The US dollar continued to rally against the euro and the Japanese yen today due to divergent monetary policies of the nations’ central banks. The greenback demonstrated mixed performance against other most-traded currencies as the rebound of global stocks limited demand for the currency as a safe haven option. The flash Markit manufacturing PMI climbed from 51.2 in December to 52.7 in January, rising far above economists’ expectations, though it remained close to multi-year lows. Existing […]
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January 222016
Q3 Eurozone Debt Report Doesn’t Help Euro in Forex Trading
The latest numbers out of the eurozone, showing a reduction in government debt during Quarter 3 of 2015 aren’t helping the euro in Forex trading against its major counterparts. Euro is down against the dollar and the pound today, as well as losing ground against other currencies. Euro is heading lower against the sterling and the greenback today, thanks in large part to the remarks of Mario Draghi earlier this week. The ECB kept its rate […]
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January 222016
Loonie Gains for Third Session vs. Greenback & Euro
The Canadian dollar gained today, extending its rally versus the US dollar and the Japanese yen for the third straight session. The reason for the admirable performance was the surprise rally of crude oil. Forecasts of cold weather in the United States and Europe promise higher demand for heating oil. As a result, crude oil prices snapped their decline, surging during the Friday’s trading session. As for Canada’s economic data, retail sales were very good, exceeding […]
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January 222016
Yen Under Pressure During Friday’s Trading
The Japanese yen fell against its major peers (though not against the euro) during the Friday’s trading session due to prospects for monetary tightening from the Bank of Japan. The unexpected drop of manufacturing index was not helpful to the currency either. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index ticked down to 52.4 in January from 52.6 in December while experts had promised an increase to 52.8. Meanwhile, analysts continue to speculate […]
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January 222016
Great Britain Pound Extends Bounce from Multi-Year Lows
The Great Britain pound started to rise yesterday, bouncing from multi-year lows against the US dollar and the Japanese yen, and continued its rally today. Negative retail sales data made the rally pause but just briefly. UK retail sales dropped 1 percent in December from the preceding month while analysts had promised basically no change. Not all Friday’s reports were bad as public net sector […]
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January 222016
US Dollar Rallies on Divergent Monetary Policies of Major Central Banks
The US dollar gained against a basket of major currencies on Thursday and kept its gains at the start of Friday’s trading. The reason for the rally was divergent monetary policies of major central banks. The European Central Bank refrained from expanding monetary policy during yesterday’s meeting, but President Mario Draghi sent a strong signal during his press-conference that European policy makers would review and may reconsider the policy in March. Meanwhile, […]
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