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Day: February 22, 2016
February 222016
Dollar Gains on Euro amid Brexit Fears
The only report released from the United States was the Markit manufacturing PMI, and it was not good at all. Yet it did not prevent the dollar from gaining on the euro as manufacturing data released from the eurozone today was also weak for the most part. But the most important factor hurting the euro were fears of the possible exit of Great Britain from the European Union. Flash Markit manufacturing PMI dropped […]
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February 222016
Euro Weakens on Economic Data, Gold
Euro is heading lower today, thanks in part to weaker economic data and lower gold prices. Also contributing to a lower euro is the concern brought about by a potential UK exit from the European Union. Euro is mostly down against its major counterparts today, with its only substantial gains against the UK pound. The latest eurozone composite PMI shows that business activity is at a 13-month low […]
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February 222016
Canadian Dollar Gains Ground Along With Oil
Canadian dollar is higher today, thanks in large part to the fact that oil prices are higher. Unrest in the Middle East might be providing some of the support for oil prices. Loonie is heading higher today, thanks in large part to gains by oil prices. Oil is back above $31 per barrel, and that is providing a great deal of support for the Canadian dollar against its major counterparts. Unrest […]
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February 222016
Japanese Yen Lower vs. Dollar & Commodity Currencies
The Japanese yen fell against the US dollar after the release of disappointing manufacturing PMI data. The yen also dropped against commodity currencies as prices for crude oil rallied. The Nikkei Flash Japan Manufacturing PMI dropped from 52.3 in January to 50.2 in February, far below the predicted figure of 52.0. The report said: Data suggests that the fall in total new work intakes was caused primarily by a contraction in international demand, with […]
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February 222016
UK Pound Dives on Brexit Fears
The Great Britain pound fell on Monday as the market was plagued by concerns that the United Kingdom may exit the European Union. Traders did not like the lack of clarity about whether Great Britain stays in the union or not as well as uncertainty about what an exit would mean for the economy of the country. Britain’s Prime Minister David Cameron announced a Brexit referendum on June 23 after he reached a deal with other European […]
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