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Day: January 29, 2016
January 292016
EUR/USD Erases Three Days of Gains
US gross domestic grew a tad slower in the previous quarter than analysts had expected, but that did not prevent the dollar from rising. In fact, the greenback erased its losses versus the euro for the previous three days of the four-day decline. Yet the major event for the Forex market on Friday happened outside of the United States and Europe as the Bank of Japan announced surprise monetary easing, sending all currencies higher against the yen. […]
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January 292016
Crude Oil Remains Friend to Canadian Dollar
Crude oil continued to rise over the Friday’s trading session, meaning that the Canadian dollar was rising as well. The loonie tends to show a strong correlation to moves of crude oil prices, and the correlation was especially noticeable during the recent time. Crude continued to rise on speculations that Saudi Arabia and Russia would be able to reach an agreement to cut output, supporting prices. Additionally, the number of US oil rigs declined this […]
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January 292016
NZ Dollar Follows Performance of Australian Dollar
The New Zealand dollar demonstrated the same performance as its Australian counterpart today. Namely, it rose against some major rivals, like the euro and the Japanese yen, but was unable to beat the US dollar. The major event for the currency markets during the current trading session was the monetary policy decision of Japan’s central bank. That, together with the rally of crude oil prices, boosted commodity-linked currencies, like the Australian and New […]
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January 292016
Australian Dollar Higher vs. Majors, Unable to Beat US Dollar
The Australian dollar gained on some of its major counterparts, like the very weak Japanese yen, during the current trading session. The Aussie was unable to beat the US dollar, though, as economic data from Australia missed expectations. The Australian Producer Price Index grew 0.3 percent in December quarter from the previous three months, two times slower than the pace predicted by analysts. Private sector credit rose 0.5 percent […]
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January 292016
Focus on Brexit Overshadows UK Economy
The UK pound is turning lower against the dollar today, although it is still holding out against the euro. While there has been some good economic data, there are still concerns about a possible exit from the European Union. Sterling has been doing fairly well in recent days. GDP readings came in at a 0.5 per cent increase in the fourth quarter of 2015, with a 1.9 per […]
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January 292016
Yen Sinks as BoJ Implements Negative Interest Rates
The Bank of Japan surprised the market by pushing its interest rates into negative territory at today’s monetary policy meeting. As one could expect, such decision led to a slump of the Japanese yen against other most-traded currencies. The BoJ announced today that it cut its main interest rate from 0.1 percent to -0.1 percent. Specifically, the bank will use the three-tier system (similar to the system used by other major central […]
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