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Day: April 12, 2016
April 122016
EUR/USD Retreats After IMF Forecast
EUR/USD retreated today as the dollar was firm. The US currency had support in the form of rather subdued outlook for global growth released by the International Monetary Fund. As for US data, it did not provide any particular insights into the state of the US economy. The next trading sessions may be more eventful as several important economic releases are scheduled, including reports about inflation, retail sales and the consumer sentiment. Import […]
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April 122016
Yen Falls as Taro Aso Talks About Intervention
Japan’s Finance Minister Taro Aso signaled that an intervention into the currency market in order to weaken the Japanese yen would not be against the agreement of the Group of Twenty. Unsurprisingly, the yen dropped after such remarks. Aso said that the G20 agreed to allow an intervention in order to prevent “one-sided” and “speculative” moves: We would take necessary steps under certain circumstances if one-sided and speculative moves were observed. I believe […]
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April 122016
Huge Gains of Crude Oil Benefit Canadian Dollar
Crude oil demonstrated big gains during the Tuesday’s trading session, and so did the Canadian dollar — the currency that is closely tied to crude. Futures for crude oil rallied more than 4% today. The rally was a result of rumors that Saudi Arabia and Russia have achieved an agreement about production freeze. Now, traders wait for the meeting of major oil-producing countries in Doha, Qatar, on April 17, where producers will […]
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April 122016
Brazilian Real Fails to Rally vs. Greenback
The Brazilian real failed to gain against the US dollar today even after the release of helpful retail sales data. The strength of the greenback and the report from the International Monetary Fund were the reasons for the currency’s underperformance. Brazilian retail sales rose unexpectedly in February. Yet this provided the real little help against the dollar as the greenback was strong even against the major currencies, let alone risky ones. Not helping the matter was […]
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April 122016
Pound Rises After Inflation Report, Struggles to Maintain Gains
The Great Britain pound rose after the release of a positive inflation report from the United Kingdom today. Currently, the sterling struggles to maintain gains, backing off against its major rivals and even falling back to the opening level against the US dollar. The Consumer Prices Index rose 0.4% in March from February and 0.5% from the same period in previous year. Both readings were above analysts’ expectations. The currency found support […]
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