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Day: February 4, 2016
February 42016
Dollar Weakened by Economic Data & Dovish Comments
The US dollar fell against its major peers during the Thursday’s trading session as poor economic data and dovish comments from some Fed policy makers led to speculations that the Federal Reserve would not be able to continue with its planned monetary tightening. New York Fed President William Dudley made dovish comments on Wednesday, saying: One thing I think we can say with more […]
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February 42016
Monetary Tightening in Question, EUR/USD Continues March Higher
EUR/USD extended its rally today following dovish comments from New York Fed President William Dudley that led to speculations that the Federal Reserve would not be able to perform even a single interest rate hike this year. US economic data was not helping the dollar either with rising jobless claims and falling factory orders. Initial jobless claims ticked up from 277k […]
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February 42016
Swiss Franc Firmer on Thursday, Remains Fundamentally Bearish
The Swiss franc gained on the extremely weak US dollar today. The currency also halted its decline against the euro after 10 consecutive sessions of losses. Still, the Swissie remains an inherently bearish currency due to the negative fundamentals. State Secretariat for Economic Affairs released its consumer confidence survey today that said “consumers still rather downbeat.” The monetary policy outlook also remains a negative factor to the Swiss currency. With […]
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February 42016
Aussie Gains vs. Greenback, Loses Gains vs. Euro
The Australian dollar rallied against its US counterpart during the Thursday’s trading session. The currency had also attempted to rally against other major peers but has lost its gains versus other currencies, including the euro. National Australia Bank released its Quarterly Business Survey today, showing an increase of the business confidence index from 1 to 4 in the final quarter of the last year. On Tuesday, the Reserve Bank of Australia […]
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February 42016
BOE Decision Weighs on Pound
The latest interest rate decision from the Bank of England is weighing on the pound right now, sending it lower against many of its counterparts. Although sterling is still higher against the greenback, it’s fading a bit. The latest policy announcement saw the BOE maintaining its record low interest rates. One of the most significant changes in this month’s decision was the voting. Ian McCafferty has been voting for months […]
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February 42016
Oil Rally Helps Canadian Dollar Against Other Currencies
The Canadian dollar is getting help today from the fact that oil prices are on the rise. Concerns about oil have been weighing on the loonie, and while there is still some weakness likely ahead, for now the Canadian dollar has the upper hand. Oil prices are heading higher, even though there remains a glut of supply in the markets. Part of the increase has been somewhat expected since it’s refinery […]
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