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Day: May 20, 2016
May 202016
Canadian Dollar Trades Lower due to Poor Macroeconomic Indicators
The Canadian dollar traded lower against its most-liquid counterparts, including the US dollar and the euro (but not including the Japanese yen) due to the worse-than-expected macroeconomic data released from Canada today. Canada’s Consumer Price Index rose 0.3% in April from the month before (not seasonally adjusted) while analysts were counting on an increase by at least 0.4%. Retail sales dropped 1% in March, also showing a worse performance than […]
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May 202016
Dollar Higher amid Summer Hike Talks
The US dollar traded higher against most of its major peers, though it was not able to beat all of them. Among the currencies that stood strong against the greenback was the euro, though currently EUR/USD is trying to move closer to the opening level. The Dollar Index was up 0.13% as market participants continued to discuss the possibility of an interest rate hike from the Federal Reserve in summer. William Dudley, President […]
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May 202016
Great Britain Pound Falls, Still Heads to Weekly Gains
The Great Britain pound fell against the US dollar and the euro today due to signs that the Bank of England may decide to ease its monetary policy. BoE officials suggested that an interest rate cut may be necessary to fuel economic growth, and this led to a drop of the sterling during the current trading session. Yet the currency was still heading to weekly gains as prospects for Britain’s exit from the European Union waned. […]
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May 202016
Threat of Intervention Discourages Traders from Buying Yen
The Japanese yen traded lower today as the threat of an intervention continues to loom over the currency, discouraging traders from buying it. Haruhiko Kuroda, Governor of the Bank of Japan, reiterated yesterday that he is ready to add stimulus if he deems that necessary. Kuroda told reporters: Be it exchange rates or anything, if it has negative effects on our efforts to achieve our price-stability target, and from that […]
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