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Day: April 4, 2016
April 42016
Falling Crude Oil Fuels Rally of Japanese Yen
The Japanese yen rallied against most other major currencies today. Analysts explained the rally by risk aversion that followed the drop of crude oil prices. Prices for crude oil fell today, sending commodity currencies (especially those directly tied to crude) down. Consequently, traders were seeking safer currencies as a mean of protection. The US dollar has lost some of its appeal due to the dovish monetary policy outlook, therefore […]
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April 42016
Dollar Meanders Without Trend
The US dollar was meandering between gains and losses, exhibiting no particular trend during the Monday’s trading session. Traders continue to digest last week’s dovish remarks from Federal Reserve chief Janet Yellen and wait for more comments this week. Analysts have predicted no particular trend for the US currency, and so far their caution proved right. The greenback did not demonstrate a particular bias, rising against […]
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April 42016
Loonie Stays Mostly Lower in Currency Trading
Canadian dollar continues to head mostly lower today in currency trading on the FX market. Loonie saw a bit of a surge at the end of last week, but now the currency is settling back down. Last week ended with wild swings for the Canadian dollar. This week looks to be a little more steady for the loonie. Canadian dollar gained quickly toward the end of last week after Federal Reserve Chair Janet Yellen […]
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April 42016
Euro Upside Continues Against US Dollar
Euro continues to show resiliency, and it appears that there is the possibility of increased upside for the 19-nation currency. With the Fed backing down and the ECB largely unable to keep the euro weak, more gains could be seen in the near term. Euro is still gaining on the US dollar, heading higher as the Federal Reserve continues to put off its next rate hike. Moves by the ECB to stimulate the eurozone economy haven’t been […]
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April 42016
Pound Stronger After Construction PMI
The Great Britain pound firmed today following the release of construction data that showed that the sector continues to grow, albeit not at an impressive pace. The Markit/CIPS UK Construction Purchasing Managersâ Index remained steady at 54.2 in March, staying safely above the neutral 50.0 level. Yet the report was not particularly optimistic as the rate of growth was slowest since June 2013. Nevertheless, the sterling was firm, rising even above […]
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April 42016
Aussie Trades Lower After Mixed Data
The Australian dollar fell against its major rivals today after the release of mixed economic data from Australia. Now, traders wait for monetary policy decision of the Reserve Bank of Australia. Building approvals rose 3.1% in February from January on seasonally adjusted basis, exceeding the consensus forecast of 2.1%. Seasonally adjusted retail sales showed no change in February while analysts had expected at least some growth. The RBA will […]
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April 42016
Dollar Lies in Waiting for Further Monetary Policy Indications
The US dollar has experienced an abysmal week at the end of March and enters April with a bias that can be defined as bearish. But does it mean that the currency is going to extend its decline further? The greenback recoiled after the dovish comments from Janet Yellen, Chairwoman of the Federal Reserve. The positive employment data attempted to rescue the currency but failed, and the dollar ended the week on a weak footing. It suggests […]
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