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Day: March 11, 2016
March 112016
Pound Ends Trading with Gains
The Great Britain pound has ended today’s trading with gains against its most-traded rivals after the release of domestic economic reports that were relatively good. The UK trade balance deficit shrank a bit from £10.5 billion in December 2015 to £10.3 billion in January 2016. Construction output fell 0.2% in January from December, but the drop was not nearly as big as the predicted 1.3%. All in all, fundamentals […]
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March 112016
NZ Dollar Joins Other Commodity Currencies in Rally
The New Zealand dollar gained today, joining other commodity currencies in a rally. Poor domestic macroeconomic reports did little to dissuade it from rising. Gains of crude resulted in a good performance for currencies linked to raw materials, and the kiwi was not different. The drop of manufacturing index and the decline of food prices were unable to prevent the advance of the currency. The NZ dollar still ended the week with losses, but they were far […]
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March 112016
Dollar Mixed as Markets Feel Secure
Today, the US dollar was weaker against the Great Britain pound and commodity currencies but gained on the euro and the Japanese yen. The currency’s moves were mostly driven by the positive market sentiment. The traders’ mood was relatively optimistic by the weekend. The major contributors to the optimism was yesterday’s announcement of stimulus measures by the European Central Bank and today’s decision by the People’s Bank of China to set the mid-range point for the yuan higher. The rally of crude oil helped […]
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March 112016
Canadian Dollar Withstands Impact of Poor Employment Report
The Canadian dollar rallied today in spite of rather poor employment data released from Canada. The apparent reason for the currency’s strength was the gains of crude oil. Canada’s employment dropped by 2,300 in February instead of rising by 10,200 as analysts had predicted. The unemployment rate ticked up from 7.2% to 7.3% unexpectedly. Yet all the negative data did not prevent the loonie from rising. The currency remains strongly correlated with oil prices, […]
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