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Day: March 16, 2016
March 162016
Canadian Dollar Surges After Fed
The Canadian dollar demonstrated a strong rally today, joining other currencies that have gained on the US dollar. There were several reasons for the rise: the Federal Reserve policy announcement, rising crude oil prices and solid manufacturing sales in Canada. The loonie and other currencies (especially commodity-related ones) demonstrated strong gains against the greenback after the Fed scaled down its outlook for the pace of monetary tightening. It helped the Canadian dollar […]
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March 162016
EUR/USD Flat Ahead of FOMC Announcement
EUR/USD was flat ahead of the Wednesday’s policy announcement from the Federal Open Market Committee. The Committee has started its meeting on Tuesday and will reveal its decision on Wednesday. Markets do not count on any change to the policy, but traders preferred to exercise caution ahead of a major event, resulting in sideways trading for the currency pair. PPI fell 0.2% in February, matching forecasts exactly. The index was up 0.1% in January. […]
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March 162016
EUR/USD Soars After Fed Lowers Interest Rates Projections
EUR/USD was not moving far during the Wednesday’s session, slowly trailing down. Yet everything has changed after the Federal Open Market Committee ended its two-day monetary policy meeting. While the policy remained the same, the mostly dovish tone of the statement and the lowered economic projections resulted in a spike of the currency pair. US CPI declined 0.2% in February, and forecasters were right on the money, predicting exactly that outcome. Consumer […]
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March 162016
Dollar Crashes as Fed Lowers Interest Rate Expectations
The main theme of the Wednesday’s trading session was the monetary policy meeting of the Federal Reserve. The Fed managed to surprise the market even as it has left the policy stable. The US central bank kept its target interest rate at the 0.25%-0.50% range. Yet the important thing was that it lowered the expected path of interest rate increases in the future, predicting just two hikes by a quarter of a point this year instead of the previous prediction […]
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March 162016
Euro Trades Mixed as Policymakers Wait for Fed to Make Move
Euro is trading mixed today, heading lower against the dollar by gaining against the yen and pound. For the most part, European policymakers are waiting for the Fed to make a move. As long as the Federal Reserve doesn’t raise rates, moves by the European Central Bank are less effective. It’s been a strange a few weeks for the euro. Even though more quantitative easing has been announced, and even though ECB president Mario Draghi […]
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March 162016
Greenback Higher Ahead of Fed Announcement
US dollar is higher today, ahead of the federal reserve announcement later. Economic data in the United States continues to be solid. That is giving some analysts reason to believe the Federal Reserve will hike rates sometime in 2016. However, that day is probably not today. Greenback is higher pretty much across the board today against its major counterparts. This comes as the Federal Reserve is […]
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March 162016
Aussie Withstands Impact of Falling Leading Index
The Australian dollar hold steady against the US dollar and ticked up against other majors, like the Japanese yen. The falling leading indicators did not hurt the currency much. The Aussie behaved similarly to the kiwi, demonstrating decent performance, even though domestic fundamentals were not helpful to the currency. The Westpac-Melbourne Institute leading index fell by 0.15 points in February. Tomorrow, an employment report will be released, and analysts predict that […]
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March 162016
NZD Flat vs. USD, Higher vs. JPY
The New Zealand dollar was flat against its US counterpart while rising against some other major currencies (including the Japanese yen) today. Economic data released from New Zealand was mixed. On the negative side, the GlobalDairyTrade Price Index demonstrated a drop by 2.9% yesterday — a bad sign for the New Zealand economy, which strongly depends on exports of dairy products. On the positive side, the current account deficit shrank to NZ$2.61 […]
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