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Day: February 11, 2016
February 112016
EUR/USD Goes Higher amid Risk Aversion
EUR/USD advanced today as concerns about global economic slowdown deepened. The worries led to speculations that the Federal Reserve would hike interest rates with slower pace or even forgo monetary tightening altogether. Yesterday’s comments from Fed Chairperson Janet Yellen reinforced such view, being fairly dovish, though she did not say that the Fed is going to completely stop raising rates. Seasonally adjusted […]
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February 112016
Global Stock Selloff Sends Sterling Lower
UK pound is struggling today, heading lower as a global stock selloff weighs on the currency. Sterling is down nearly across the board today, thanks to concerns about stocks, and earnings misses by major European banks. UK pound has taken something of a beating in recent weeks. With a variety of concerns weighing on the British currency, it’s no surprise that the sterling is struggling. Today, the pound is in a selloff as global stocks […]
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February 112016
How Long Will Loonie Remain a Petro-Currency?
The Canadian dollar is heading lower again today, thanks in large part to the fact oil prices are once again falling. However, while the loonie is likely to retain some of its ties to oil, some analysts are starting to question how long it will remain a true petro-currency. After a short period of gains, oil prices are once again heading lower. Today, oil prices dropped below […]
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February 112016
Solid New Zealand Economic Health Doesn’t Make NZD Stronger
The New Zealand dollar was yet another victim of the risk-negative sentiment prevailing on the Forex market that led to less than stellar performance of risky growth-related currencies. Solid domestic fundamentals were not enough to support the currency. Seasonally adjusted Business NZ Performance of Manufacturing Index ticked up from 57.0 to 57.9 in January. The report commented on a healthy state of New Zealand’s economy. Yet this did not prevent the NZ […]
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February 112016
Australian Dollar Drops Together with Other Commodity Currencies
The Australian dollar fell today along with other commodity-related currencies despite relatively positive economic data from Australia. The most likely reason for the sluggish performance was concern about slowdown of the global economy. Released today, Melbourne Institute Inflation Expectations remained unchanged at 3.6 percent. The Westpac Consumer Sentiment Index released yesterday demonstrated an increase of 4.2 percent in February following the 3.5 percent drop in January. Yet positive […]
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