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Day: March 24, 2016
March 242016
Fifth Day of Losses for EUR/USD
EUR/USD declined today, extending its losing streak for the fifth straight day. Economic data released from the United States over Thursday was not particularly good. Yet the outlook for monetary tightening from the Federal Reserve helped the dollar to weather the negative impact of the unfavorable reports. Many markets will be closed tomorrow for Good Friday, therefore trading should be quiet. Initial jobless claims were at the seasonally adjusted […]
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March 242016
Dollar Struggles to Maintain Rally
The US dollar was attempting to extend its rally today but had limited success. The currency gained against the euro and the Japanese yen but trimmed gains as of now. Against the Great Britain pound, the greenback erased its gains altogether. The dollar continued to receive support from the outlook for monetary tightening from the Federal Reserve. Today’s underwhelming economic data from the United States hurt the attractiveness of the US currency but not […]
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March 242016
Canadian Dollar Continues to Struggle as Oil Prices Drop
Canadian dollar is lower today, as oil prices resume their drop. North American stock indexes are also lower, which is weighing on the loonie as well. With the Canadian economy struggling a little bit because of oil, it’s little surprise that the loonie continues to exhibit weakness against its major counterparts. Canadian dollar is down against its major counterparts today as oil prices drop again. […]
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March 242016
Turkish Lira Stable After Central Bank Cuts Interest Rate
The Turkish lira was little changed against the US dollar and the euro today after the nation’s central bank made a surprise decision to cut interest rates, including the key Marginal Funding Rate. The Central Bank of the Republic of Turkey decided to cut its main interest rate by 25 basis points to 10.5%. The lending rate has been reduced from 12.25% to 12%. Other rates remained the same. The central bank explained its […]
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March 242016
Euro Finally Shows Signs of Weakness
Analysts and traders have been expecting the euro to drop for quite some time now. Forecasts for a lower euro have not been met, as the 19-nation currency continues to show resiliency. Today, though, the euro finally appears to be showing signs of weakness. Euro is heading lower today against its major counterparts as better news and other economies help other currencies. European leaders have been trying to figure out […]
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March 242016
Japanese Yen Lower Against Rivals
The Japanese yen fell against its major rivals today after the Bank of Japan released the summary of opinions voiced on the last policy meeting. Japanese policy makers showed disagreement about the necessity of keeping interest rates in the negative territory. Some argued in favor of removing them: Withdrawal from the Bank’s negative interest rate policy is preferable. Other argued against such a move: Undoing the negative interest rate policy is […]
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March 242016
Pound Stabilizes as Retail Sales Beat Expectations
The Great Britain pound stabilized today following yesterday’s losses. One of the possible reasons for the decent performance was the better-than-expected retail sales report. Britain’s retail sales dropped 0.4% in February from January. While the reading was not particularly good by itself, it was better than the predicted drop by 0.7%. This helped the sterling to halt its decline, though the currency remains under pressure from the Brexit fears. GBP/USD […]
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