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Day: June 14, 2016
June 142016
Dollar Stronger amid Fears, Yen & Swissie Hold Ground
The US dollar gained on the euro during Tuesday’s trading as Brexit fears were driving the shared currency of the eurozone down. The greenback also gained on the Great Britain pound and commodity currencies, but fared worse against safe haven currencies like the Japanese yen and the Swiss franc. Market participants are nervous amid uncertainty about the future of Great Britain and the European Union. The resulting negative market sentiment made currencies associated with […]
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June 142016
Brexit Votes Lead in Polls, GBP Extends Run to Downside
Talks about the potential exit of the United Kingdom from the European Union continue to rattle markets. As a result, the Great Britain pound extended its move to the downside during Tuesday’s trading. According to the latest polls, those who want Britain out of the EU lead as of now. That does not bode well for the economy and the currency of the UK. While some economists argue that independence would be beneficial to the country in the long run, it […]
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June 142016
EUR/USD Crashes as FOMC Starts Meeting
EUR/USD tumbled today ahead of tomorrow’s announcement from the Federal Reserve. The Fed starts its two-day policy meeting today and will announce its decision tomorrow. The currency pair was also hit by fears of the so-calledBrexit. Retail sales grew 0.5% in May, a bit more than analysts had predicted (0.4%) but slower than the April’s 1.3% rate of growth. (Event A on the chart.) Import and export prices demonstrated a strong gain […]
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June 142016
Australian Dollar Touched Four-Year Low vs. Yen
The Australian dollar fell against its US counterpart today amid the risk-negative market sentiment and underwhelming economic data from Australia. The currency also dropped versus the Japanese yen, touching the lowest level in four years. National Australia Bank reported that business confidence index eased from 5 to 3 in May. Economic data from China, Australia’s biggest trading partner, was also not encouraging. But the most […]
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June 142016
South African Rand Falls as Current Account Deficit Widens
The South African rand dropped today after data showed an increase of the nation’s current account deficit. The South African Reserve Bank reported that the current account logged a deficit of 5% of GDP in the first quarter of 2016, up from 4.6% in the fourth quarter of 2015. The bank explained the rising shortage by the drop of mining output that followed the slump of global commodity prices. The news led to speculations that the central bank may raise […]
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June 142016
Canadian Dollar Attempts to Recover After Falling on Monday
The Canadian dollar fell on Monday, following the drop of crude oil prices, though the currency is trying to recover during early Tuesday’s trading. Crude declined on Monday and continued to move down on Tuesday. Usually, the loonie follows movement of oil prices, but currently it is trying to break the correlation. The currency may have a hard time recovering from losses due to the market sentiment that is unfavorable to currencies linked to growth […]
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June 142016
Pound Feels Weight of Brexit Fears
The Great Britain pound continued to feel the weight of Brexit fears. While the currency was attempting to hold its ground on Monday, it looks like the sterling has buckled under the pressure, falling during Tuesday’s early trading. Polls show increasing desire among Britons to leave the European Union. The Orlando shooting did not help the matter as there are plenty of people in the United Kingdom that blame immigrants for their problems, […]
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