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Day: July 14, 2016
July 142016
EUR/USD Climbs After BoE, Trims Gains Later
EUR/USD climbed today after the Bank of England surprised markets, deciding to avoid monetary easing for now. (Event A on the chart.) The euro profited from the resulting surge of risk appetite. Currently, the currency pair is moving sideways after retreating closer to the opening level as the BoE also signaled about the possibility of an interest rate cut in August. Additionally, positive economic data from the United States was helping the dollar to keep ground versus […]
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July 142016
Australian Dollar Climbs, Ignoring Disappointing Employment
The Australian dollar gained against the US dollar and the Japanese yen today even though employment growth trailed forecasts. The likely reason for the currency’s strength was the policy decision of Great Britain’s central bank. Australian employers added 7,900 jobs in June from the previous month, missing market expectations of an increase by 10,100. The unemployment rate ticked up from 5.7% to 5.8%, in line with predictions. The surprise decision of Britain’s policy makers […]
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July 142016
Sterling Jumps After BoE Delays Monetary Easing
The Great Britain pound climbed today after the Bank of England surprised markets, leaving its monetary policy unchanged. The BoE preferred to keep its main interest rate unchanged at 0.5% with just one person voting for a cut. It was a huge surprise to market participants as they were counting on policy easing. The central bank signaled that it is likely to ease the policy in August: The MPC is committed to taking […]
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July 142016
Upbeat Forecast, Higher Oil Prices Help Canadian Dollar
Canadian dollar is getting a little help today, thanks to a recent upbeat forecast from the Bank of Canada, and thanks to improving oil prices. Loonie is mostly higher today, and there are hopes that the currency can maintain some of its recent advances going forward. The Bank of Canada recently held its interest rate unchanged, helping fuel speculation that the economy is on the right track. Policymakers also made […]
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