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Day: June 30, 2016
June 302016
Canadian Dollar Swings Between Gains & Losses
The Canadian dollar was swinging between gains and losses during Thursday’s trading as positive domestic fundamentals were combating concerns about the impact of the Brexit on the world’s economy. Canada’s gross domestic product rose 0.1% in April, within expectations, following the drop by 0.2% the month before. The Industrial Product Price Index increased 1.1% in May. The Raw Materials Price Index rose 6.7%. Both indexes were above analysts’ forecast and both […]
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June 302016
EUR/USD Halts Post-Brexit Rally
EUR/USD halted its post-Brexit rebound today. US economic data was mixed. Jobless claims rose, though they were in line with market expectations, while the Chicago PMI climbed much more than was predicted by experts. Initial jobless claims rose to the seasonally adjusted level of 268k last week, in line with analysts’ expectations of 267k, from the previous week’s revised rate of 258k. (Event A on the chart.) Chicago […]
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June 302016
Brazilian Real Rises for Third Day
The Brazilian real rallied for the third consecutive session today, though the rally caused concerns among traders about potential intervention from the nation’s central bank. The real has gained about 6% since the Monday’s close. Intraday, the currency jumped above 3.2 per dollar for the first time in almost a year. Market analysts speculated that the strong rally may prompt the Central Bank of Brazil to curb the excessive appreciation. USD/BRL went […]
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June 302016
Great Britain Pound Tanks After Carney Speaks About Stimulus
The Great Britain pound tanked today, ending the two-day rally, after the chief of the nation’s central bank signaled that monetary easing may be required to help Britain weather the impact of leaving the European Union. Mark Carney, Bank of England Governor, signaled that he may implement stimulating measures as soon as this summer. He said in today’s speech: In my view, and I am not pre-judging the views of the other independent […]
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