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Day: February 23, 2016
February 232016
Falling Crude Oil Prices Lead to Drop of Canadian Dollar
The Canadian dollar slid against other most-traded currencies today due to the slump of crude oil prices and the resulting risk-negative sentiment. Prices for crude was falling as traders started to realize that capping production close to record level is not going to alleviate oversupply on the market. Unsurprisingly, the Canadian currency reacted negatively to the drop of oil prices. The loonie fell not just because Canada’s economy heavily depends on oil exports but […]
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February 232016
Euro Continues to Slide, Gains on Pound
The euro continued to slide against its most-traded peers as concerns about the potential Brexit and economic stagnation in the eurozone undermined the strength of the currency. As one could expect, the shared 19-nation currency fared better that the Great Britain pound that has been the weakest major currency this week so far. Brexit fears are on the rise despite the recent deal between the United Kingdom and the European Union to secure a special status of the UK […]
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February 232016
EUR/USD Remains Weak After Mixed US Data
EUR/USD continued to fall today, albeit with slower pace, even though economic data from the United States was mixed. The currency of the eurozone is still plagued by uncertainty regarding membership of Great Britain in the European Union. Additionally, the German business climate indicator dropped sharply, surprising market participants who were prepared just for a small decline. (Event A on the chart.) S&P/Case-Shiller home price index rose 5.7% in December 2015 […]
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February 232016
US Dollar Gains Ground as Stocks, Oil Fall
It looks to be another unsettling day in the markets, and the US dollar is benefitting from the uncertainty. Greenback is gaining against its high beta counterparts, but falling against the yen. US dollar index is higher today as the greenback gains against its high beta counterparts, like the euro and the pound. Stocks are struggling today, and oil is lower. Even though OPEC is looking at a production freeze, […]
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February 232016
Weaker Zloty Good for Polish Economy
The Polish zloty fell against the US dollar today as the market sentiment soured, making riskier currencies of emerging economies less attractive. This may be not that bad in the long run, at least for those Polish policy makers that want the currency to be lower. Eryk Lon, the newly appointed member of Poland’s central bank Monetary Policy Council, voiced his desire to see the zloty moderately weaker. He said […]
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