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Day: February 1, 2016
February 12016
Canadian Dollar Withstands Negative Impact of Falling Oil Prices
The Canadian dollar was able to overcome the negative impact of falling prices for crude oil, bouncing from the daily lows during the Monday’s trading session. Crude oil fell today as poor economic data from China had a negative influence on commodity markets. Additionally, crude declined amid doubts that major oil producers would be able to reach an agreement about cutting output. Usually (especially at the recent times), the loonie […]
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February 12016
EUR/USD Starts Week Strong
EUR/USD started the week strong, though not strong enough to erase the Friday’s big drop that has demolished gains of three days in one swoop. Monday’s economic data released from the United States was relatively soft while macroeconomic indicators released from the eurozone were decent for the most part. This week is busy with economic releases from the US, and the most important of them is going to be […]
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February 12016
Britain’s Manufacturing Looks Good, Pound Higher
The Great Britain pound gained against its major peers today with the help of a good manufacturing report. It was the third consecutive day of gains for the currency against the euro and the Japanese yen. The Markit/CIPS UK Manufacturing PMI increase to the three-month high of 52.9 in January from 52.1 in December. The actual reading was noticeably higher than the median forecast of 51.8. The Bank of England is going to hold a policy meeting on Thursday, and it […]
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February 12016
Aussie Down Intraday, Attempts to Recover
The Australian dollar dipped intraday due to disappointing manufacturing data from China but has managed to recover as of now, at least against the US dollar and the Japanese yen. The Caixin China General Manufacturing PMI ticked up a little from 48.2 to 48.4 in January but remained below the neutral 50.0 level. Government data also indicated contraction of the sector. This bodes ill for the whole global economy, but for the economy of Australia in particular […]
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February 12016
Euro Rallies a Bit as Gold Gains Ground
Euro is rallying today, following on the heels of a choppy couple of weeks. Last week the euro didn’t perform quite as well as expected, considering the data released about the eurozone, but at the start of this week the 19-nation currency seems to be making up for it. As gold gains ground in the markets, the euro is getting some support. Euro often moves with gold prices, and with gold surging today, the 19-nation currency is […]
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February 12016
US Dollar Index Heads Lower on Fed Speculation
US dollar is struggling today, with the dollar index down as Forex traders wonder if the Federal Reserve will dial back its plans for interest rate hikes. With the global economy showing volatility, and concerns about what’s next weighing, there is some speculation that the Fed will be reluctant to keep raising rates. US dollar index is lower today as the greenback falls against almost […]
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