Day: April 27, 2016

April 27
2016

Fed Holds Interest Rates Steady, EUR/USD Up

The main theme of Wednesday’s trading session was the monetary policy announcement from the Federal Reserve. The Fed offered no surprises, holding its policy steady and giving no particular hints about its plans for the future. EUR/USD was very volatile immediately after the event but steadied quickly and moved mostly sideways afterwards, though with an upward bias. Pending home sales rose 1.4% in March from the downwardly revised […]

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April 27
2016

Higher Oil Prices Help Canadian Dollar

Canadian dollar is getting a boost today, reaching its highest level against the US dollar in about nine months, and gaining against some of its other counterparts as well. Higher oil prices are providing support to the loonie today. Loonie is getting help as oil prices rise today. Oil touched $45 earlier in the session, and although it is back below that level, oil is still higher […]

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April 27
2016

Euro Maintains Strength in Forex Trading

The euro continues to show strength in currency trading on the FX market, even though stimulus is in effect, and there could be more stimulus on the way for the eurozone. Signs that stimulus efforts are having an impact are providing support for the 19-nation currency, as is the fact that the Federal Reserve has yet to truly commit to policy divergence and raise rates again. Last month, the ECB cut interest rates and expanded the asset purchase […]

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April 27
2016

New Zealand Trade Balance Misses Expectations, NZD Down

The New Zealand dollar weakened today after the release of the underwhelming trade balance report. The trade surplus of New Zealand shrank from $367 million to $117 million in March. It was nowhere near the reading of $405 million predicted by analysts. This led to a drop of the New Zealand dollar, which followed its Australian peer in decline, despite the rally of gold and crude oil that should have been supportive for commodity-related currencies. […]

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April 27
2016

Australian Dollar Sinks After CPI Disappoints

The Australian dollar sank today as inflation data was unexpectedly weak, leading to speculation about a possible interest rate cut from the Reserve Bank of Australia. Australia’s Consumer Price Index fell 0.2% in the March quarter from the previous three months while experts had predicted an increase by 0.3%. The Trimmed Mean CPI rose 0.2% on a seasonally adjusted basis — the slowest growth on record. Cash rate futures showed that chances […]

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