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Day: May 24, 2016
May 242016
Hungarian Forint Higher vs. Euro After Central Bank Announcement
The Hungarian forint gained on the euro and was stable against the US dollar today as Hungary’s central bank signaled about an end to its monetary easing cycle. The Magyar Nemzeti Bank announced today that it is cutting its main interest rate by 15 basis points to 0.9%. Yet the central bank signaled that the rates are likely to remain stable for a while after the cut. The bank said in the statement: In the Councilâs assessment, […]
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May 242016
Economic Sentiment Doesn’t Look Good for Euro
The euro fell against most currencies today, including the US dollar and the Swiss franc, though not the Japanese yen. The indicators released during the current trading session showed that the economic sentiment deteriorated sharply this month. The ZEW Indicator of Economic Sentiment for Germany dropped from 11.2 to 6.4 in May. The Indicator of Economic Sentiment for the Eurozone slid from 21.5 to 16.8. Economists were promising an increase for both indicators. The report explained […]
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May 242016
Dollar Index Higher, But Gains Tempered by Sterling
The US dollar index is higher today, but the gains are tempered by a UK pound that is gaining ground. Rate hike expectations and better economic data continue to help the greenback in currency trading, even though the US currency is lower against the sterling today. The US dollar index, a representation of the dollar’s performance against a weighted basket of currencies, is heading higher today. The dollar’s gains against the euro, the Japanese yen, […]
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May 242016
Japanese Yen Eases After Yesterday’s Gains
Japanese yen is easing today, trading mixed against its major counterparts following yesterday’s gains. There are still questions about what’s next for Japan, and there is always the possibility that officials will intervene to weaken the yen. Yesterday, the Japanese yen saw solid gains against many of its major counterparts. Yen gained as improved economic data and trade surplus numbers provided support. Today, there […]
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May 242016
Great Britain Pound Higher as Threat of Brexit Wanes
The Great Britain pound climbed against its most-traded peers during the Tuesday’s trading session after comments from Mark Carney, Bank of England Governor, and Brexit polls. Carney talked about downsides of leaving the European Union and upsides of staying in it. He also voiced an opinion that deflation is no longer a threat. Meanwhile, polls continue to show that the number of those who want to stay in the EU surpasses the number […]
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May 242016
Interest Rate Cut Talks Weigh on Australian Dollar
The Australian dollar sank today amid speculations that the Reserve Bank of Australia may perform another interest cut after it has already slashed borrowing costs earlier this month. Australia’s central bank has surprised markets at the beginning of May, making an unexpected cut for its key interest rate. One of the reasons for the decision was the surprisingly low inflation rate. RBA Governor Glenn Stevens was speaking overnight, […]
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