Day: June 15, 2016

June 15
2016

Canadian Dollar Doesn’t Join Rally vs. US Dollar

Most currencies rallied against the US dollar after the Federal Reserve’s policy announcement, but the Canadian dollar did not join the parade. The explanation for this is simple: prices for crude oil fell and dragged the Canadian currency along with them. Market participants remain cautious ahead of the referendum in the United Kingdom, preferring to avoid unnecessary risk. Such considerations make them less willing to buy assets linked to economic growth, […]

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June 15
2016

Dollar Trades Lower After Fed Makes Policy Announcement

The US dollar fell against most currencies after the policy announcement from the Federal Reserve. The drop was not especially big as the Fed did not surprise markets very much with its announcement. The US central bank made no changes to its monetary policy, surprising no one. The vote was unanimous. It is interesting to note that Kansas City Fed Governor Esther George, who was […]

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June 15
2016

FOMC Lowers Interest Rate Expectations, EUR/USD Jumps

EUR/USD surged today after the Federal Open Market Committee left its monetary policy unchanged and lowered its economic expectations. Of the particular note was the forecast for interest rates that was also cut. It showed a smaller number of interest rate hikes in 2017 and 2018. Furthermore, chances for a rate increase in summer have basically evaporated. Unsurprisingly, the dollar fell against its rivals after the news, though the drop was […]

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June 15
2016

Australian Dollar Rises in Spite of Economic Data

The Australian dollar gained against its most-traded peers today even though Australia’s economic data was not particularly helpful to the currency. The Westpac-Melbourne Institute Consumer Sentiment dropped 1% in June. The report was not necessarily that awful as Westpac Senior Economist, Matthew Hassan, commented: Coming after an 8.5% surge in May, the small decline in June mostly represents a consolidation at improved levels. With data being not particularly […]

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June 15
2016

NZ Dollar Up as Current Account Turns Positive

The New Zealand dollar rose today, getting help from positive domestic macroeconomic data. The New Zealand current account logged a surplus of NZ$1.31 billion (not seasonally adjusted) in the March quarter of 2016 that has exceeded analysts’ expectations. Now, traders wait for today’s meeting of the US Federal Reserve and tomorrow’s GDP report from New Zealand. Experts predict that the data will show that growth of the New Zealand […]

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