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Day: April 14, 2016
April 142016
US Dollar Keeps Strength After Mixed Data
The US dollar continued to rise against most of its rivals, though it slowed the advance and even halted it against some currencies as US inflation data was disappointing. The dollar remained strong even though US data released over Thursday was mixed. The Consumer Price Index rose less than market participants had counted on. It proved that the Federal Reserve was right in cautious approach […]
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April 142016
EUR/USD Bounces After US CPI Disappoints
EUR/USD was slowly gravitating to the downside during the current trading session but bounced after the release of mixed US economic data. While unemployment claims made a pleasant surprise to dollar bulls, falling unexpectedly, consumer prices spoiled the mood, rising less than had been forecast. CPI increased 0.1% in March on a seasonally adjusted basis, less than analysts had predicted (0.2%). The index decreased 0.2% in February. (Event […]
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April 142016
Sterling Lower After Release of BOE Minutes
Once again, the Bank of England has left rates steady, near record lows. The latest release of minutes indicates that there are still headwinds for the UK economy, and the MPC members are concerned about the possibility of an exit from the European Union (known as the Brexit). The result is a lower sterling, pretty much across the board. UK pound is heading lower today, dropping as the release of the latest minutes from the Bank of England’s […]
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April 142016
South Korean Won Falls During Thursday’s Trading
The South Korean won fell against the US dollar today as the surprise monetary easing from the central bank of Singapore hurt Asian currencies in general while political turmoil in South Korea was hurting the won in particular. Currencies across Asia fell on Thursday after the Monetary Authority of Singapore weakened the Singapore dollar and issued a pessimistic forecast. Meanwhile, Korea’s ruling party lost its parliamentary majority after elections. This led […]
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April 142016
Australian Dollar Gets Help from Employment Data
The Australian dollar gained against its major peers today with the help of supportive employment data. The positive report led to speculations that the Reserve Bank of Australia may refrain from cutting interest rates further. Employment rose by 26,100 in March versus expectations of 18,600. The unemployment rate edged down from 5.8% to 5.7% while experts had predicted an increase to 5.9%. It is the lowest level in more than two […]
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April 142016
Yen Weaker as Traders Feel No Need for Safety
The Japanese yen was soft during Wednesday’s trading session and remained weak at the start of Thursday’s trading as signs of improvement in the global economy made the currency less desirable as a safe haven asset. While the positive news from China was beneficial for the US dollar, it was detrimental to the Japanese currency. Additionally, the yen felt pressure from speculations about a possible intervention. Overall, traders saw no benefit in buying the currency at the present […]
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