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Day: January 28, 2016
January 282016
US Data Makes Dollar Fall Further
The dollar extended its slide versus the euro for the fourth consecutive day during the current trading session as US poor economic data suggested that the Federal Reserve is not going to tighten its monetary policy aggressively. Macroeconomic indicators released from the eurozone on Thursday were not good as well, but it looks like the greenback is more vulnerable to a negative monetary policy outlook right now. Initial jobless […]
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January 282016
Soaring Crude Oil Prices Benefit Canadian Dollar
The Canadian dollar was tracking move of crude oil very closely in the recent past, and today’s trading session was no different. Prices for crude rallied, and the loonie followed them. There were reports that Saudi Arabia approached Russia with an offer to make a deal between OPEC and non-OPEC producers to cut output. Such move is expected to buoy oil prices. There is nothing tangible yet, and many analysts […]
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January 282016
US Data Doesn’t Look Good, Dollar Lower vs. Most Currencies
The US dollar was weaker against the vast majority of most traded currencies (with the exclusion of the Japanese yen) today. Most US economic reports released from the United States over the Thursday’s trading session were bad, leading to speculations that monetary tightening from the Federal Reserve would be very gradual. Durable goods orders sank 5.1 percent during December, far more than the 0.6 percent drop […]
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January 282016
Eurozone Confidence Drops, But Euro Remains Higher Against Dollar
The latest economic confidence data out of the eurozone shows a drop from December to January. Even though this news is bolstering the case for stimulus, the euro is higher against the dollar. Euro is gaining ground against the US dollar today, in spite of the latest data that indicates that there is less confidence in the economy of the 19-nation currency region. Eurozone confidence dropped to 105 in January from 106.7 in December. This […]
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January 282016
Zurbruegg Says No Risk of Deflation, Swiss Franc Rises
The Swiss franc was higher today after Fritz Zurbruegg, Deputy Chairman of the Swiss National Bank, said that there is no risk of deflation. Zurbruegg stated today that there is no risk of deflation despite the strong franc, saying: Inflation is very low and remains in negative territory this year. This is due to a transition of the sharp fall in oil and the strength of the franc and does not pose the risk […]
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January 282016
UK GDP Growth in Line with Expectations, Pound Higher
The Great Britain pound gained today following the release of a GDP report that showed stable growth of the UK economy. The currency backed off from its session highs as of now but remains safely above the opening level. Britain’s gross domestic product rose 0.5 percent in the fourth quarter of 2015 after rising 0.4 percent during the previous three months. The reading matched the consensus forecast of economists. Yet apparently markets […]
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January 282016
NZ Dollar Drops as RBNZ Leaves Doors Open to Interest Rate Cuts
The Reserve Bank of New Zealand refrained from an interest rate cut yesterday after slashing rates last month but signaled about possibility of an additional cut in the future. As a result, the New Zealand dollar sank during the previous trading session, though the currency is attempting to recover during the current session. The RBNZ voiced concerns about developments in both New Zealand and global economies. Additionally, the central bank complained about the exchange […]
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