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Day: April 19, 2016
April 192016
US Dollar Feels Pressure from Domestic Data & Market Sentiment
The US dollar dropped today against most currencies as both domestic fundamentals and the general optimistic market sentiment weighed on the currency. The worker strike in Kuwait helped to stabilize prices for crude oil which fell on Monday. This helped commodity currencies while making safe currencies less attractive to speculators. As for US data, the housing report was very disappointing. Housing starts fell to the seasonally adjusted annual rate of 1.09 million in March […]
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April 192016
Yen Weaker After Crude Oil Bounces
The Japanese yen weakened today as the rally of crude oil prices and the subsequent appreciation of commodity currencies gave traders less incentive to stick to the safety of Japan’s currency. Crude oil prices plunged yesterday but managed to stage a bounce today. It was helpful to commodity-geared currencies. By the same token, safe currencies became less appealing to market participants. The yen suffered also due to the threat of monetary stimulus from Japanese policy makers. […]
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April 192016
Australian Dollar Gains After RBA Minutes & Oil Rally
The Australian dollar gained today following the release of the latest policy meeting minutes from the Reserve Bank of Australia and the bounce of crude oil prices. The RBA minutes mentioned the strong rally of the Australian dollar, especially against its US counterpart, that is weighing on inflation in Australia: At the time of the meeting, the Australian dollar was around its highest level since mid 2015. As a result, prospects for additional monetary easing remain: Continued low […]
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