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Day: March 9, 2016
March 92016
EUR/USD Bounces Ahead of ECB Meeting
EUR/USD was falling during the current trading session but rebounded as of now. Tomorrow, the European Central Bank will hold a monetary policy meeting, and it is widely expected that the ECB is going to expand its monetary stimulus. US wholesale inventories increased 0.3% in January instead of falling 0.2% as analysts’ had predicted. Furthermore, the December’s change was revised from -0.1% to 0.0%. The rise of inventories means slowdown […]
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March 92016
RBNZ Surprises Market Cutting Interest Rates, Kiwi Goes South
The Reserve Bank of New Zealand caught the market by surprise, slashing its benchmark Official Cash Rate today. The New Zealand dollar dropped more than 1% immediately after the announcement. The RBNZ cut its main interest rate by 25 basis points to 2.25% by the end of the Wednesday’s session. It was a total surprise to market participants as they were counting on the monetary policy to remain the same. Furthermore, RBNZ Governor Graeme Wheeler […]
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March 92016
Pound Rises vs. Euro, Loses Gains vs. Dollar
The Great Britain pound rose against the euro today with the help of a relatively positive manufacturing report. The currency was less successful against the dollar, losing initial gains and falling below the opening level. Britain’s manufacturing output rose 0.7% in January from the prior month exceeding analysts’ expectations. Industrial production expanded 0.3% after falling the month before, though the increase trailed forecasts. Overall, economic data was decent, […]
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March 92016
Australian Dollar Weathers Impact of Negative Fundamentals
The Australian dollar rose today, withstanding negative impact of poor economic data released both from Australia and overseas. The currency reached the highest level since December versus the euro and the highest since July against the US dollar. Australia’s consumer sentiment worsened in March while the number of home loans declined in January. As for news outside of Australia, yesterday’s release of trade data from China was considered disappointing by market analysts, sending […]
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