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Day: May 12, 2016
May 122016
EUR/USD Trims Losses After US Data Misses Projections
EUR/USD was falling during the current trading session but trimmed losses after the release of worse-than-expected macroeconomic indicators from the United States. The currency pair still trades below the opening level as of now but far above the daily low. Initial jobless claims rose from 274k to 294k last week, exceeding the analysts’ median projection of 277k. It was the biggest number of unemployment claims since the end of February 2015. […]
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May 122016
Norwegian Krone Higher After Policy Decision & GDP
The Norwegian krone rose today after the Norges Bank kept monetary policy unchanged and the decent growth of Norway’s economy reduced the risk of interest rate cuts. The central bank decided to keep its key policy rate at 0.5%. The bank said in the statement: The rise in oil prices may reduce uncertainty and contribute to somewhat higher growth in the Norwegian economy. Indeed, Norway’s gross domestic product expanded 1% in the first quarter of 2016, recovering […]
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May 122016
Yen Soft as BoJ Continues to Signal About Easing
The Japanese yen was soft today as the Bank of Japan continued to send signals about possibility of additional monetary easing. BoJ Governor Haruhiko Kuroda was talking about monetary policy in an interview today, saying that the central bank “can still ease monetary policy substantially” in case of necessity. Kuroda also voiced an opinion that the yen is overvalued. The comments reinforced the outlook for additional monetary accommodation, and some analysts speculated […]
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May 122016
Euro Pulls Back as Economic Slowdown is Expected
Economist and analysts expect the eurozone economy to slow its rate of growth through the end of 2016, and that is weighing on the euro today. The 19-nation currency is struggling against some of its counterparts. Even though the eurozone economy grew at a faster pace during the first quarter of 2016 than either the United States or the United Kingdom, things aren’t expected to last. A recent poll addressing the eurozone economy indicates that economists and analysts […]
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