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Day: May 23, 2016
May 232016
Canadian Dollar Kicks Off Week with Decline
The Canadian dollar was demonstrating a poor performance during the Monday’s trading session. It is hard to be surprised by this turn of events considering the noticeable decline of prices for crude oil. Futures for both Brent and WTI crude declined more than 1% intraday. While currently prices trimmed their losses a bit, they remain far below the opening level, hurting commodities tied to the performance of crude. So happens, the Canadian […]
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May 232016
Brexit Continues to Weigh on UK Sterling
The Great Britain pound fell today, following the sharp drop on Friday, as market participants continued to speculate whether the United Kingdom is going to remain in the European Union. The potential exit of Britain from the EU (the so-called Brexit) is still causing concerns among investors. Prime Minister David Cameron and Finance Minister George Osborne stoked fears, talking about the possibility of a recession that the Brexit may cause. Economists argue what […]
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May 232016
Dollar Index Higher on Fed Rate Hike Speculation
Speculation about the next Fed rate hike is sending the US dollar index higher, and supporting the greenback against its major counterparts. Dollar is higher against many of its counterparts as Forex traders look for a rate hike by the end of 2016. US economic data has been relatively solid in recent weeks, and that is fueling speculation that the Federal Reserve will raise rates earlier than expected. Earlier […]
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May 232016
Euro Drops as Economic Data Disappoints
Euro is heading lower today, dropping on disappointing economic data and concerns that the eurozone will see more slowing. Concerns about the various countries in the eurozone are weighing on the 19-nation currency. The latest flash eurozone PMI reading has disappointed analysts and Forex traders alike, and is resulting in a much lower euro today. The 19-nation currency is struggling against most of its counterparts today as economic concerns once again […]
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May 232016
NZD Struggles to Keep Rally vs. USD, Falls vs. JPY
The New Zealand dollar was trying to extend its rally versus the US dollar but is struggling to keep rising as of now. The currency fell against the Japanese yen. Some analysts explained today’s gains of the kiwi versus the greenback by profit-taking following the week of the US dollar’s rally. Fundamentally, nothing has changed, and the threat of monetary tightening from the Federal Reserve continues to weigh on all rivals of the US currency. Coupled with the softness […]
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May 232016
Yen Trades Higher After Mixed Data
The Japanese yen climbed against its major peers today even though macroeconomic data from Japan was mixed, failing to provide a direction for the currency. On the positive side, the nation’s trade surplus widened from ¥â0.3 trillion in March to ¥â0.43 trillion in April, exceeding analysts’ predictions. On the negative side, the Nikkei Flash Japan Manufacturing Purchasing Managersâ Index fell from 48.2 to 47.6 in May, demonstrating the biggest decline of the manufacturing sector […]
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