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Day: August 16, 2016
August 162016
Loonie Mixed Despite Supportive Fundamentals
The Canadian dollar climbed against its US peer but dropped against the euro and the Japanese yen despite the support from rising oil prices and manufacturing sales. Prices for crude oil, Canada’s major export, rallied during the Tuesday’s session, helping the loonie (as the Canadian currency is nicknamed) in the process. Market analysts are worried, though, that unless crude continues go higher the currency will have hard times keeping […]
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August 162016
Pound Jumps with Improving Economic Indicators
The Great Britain pound jumped today as macroeconomic data released from the United Kingdom suggested that the impact of the Brexit had not yet hit the nation’s economy. UK economic indicators not only have not worsened in the month that followed the Brexit vote, they have actually improved. Of particular note was consumer inflation, which rose to 0.6% in July while experts had predicted it to stay at 0.5%. Other […]
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August 162016
EUR/USD at New Post-Brexit High
EUR/USD rallied today, hitting the highest level since the big slump that had followed the Brexit announcement. US economic data released during the current trading session was mixed. The same goes to remarks from Federal Reserve officials as New York Fed President William Dudley said that a September interest rate hike is still possible while yesterday’s remarks from San Francisco Fed Governor John […]
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August 162016
NZ Dollar Stays Resilient
The New Zealand dollar gained against its US rival but had problems keeping gains against other most-traded counterparts during the current trading session. The kiwi stayed resilient even after the Reserve Bank of New Zealand had cut interest rates last week. This fed speculations that central banks are reaching their limit of influencing economies, at least through conventional means. Helping the currency was […]
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August 162016
Australian Dollar Mixed After RBA Minutes
The Australian dollar demonstrated mixed performance after the release of RBA policy minutes earlier during the Tuesday’s trading session. The currency rallied against the US dollar (though has trimmed its gains as of now) but fell against the euro and the Japanese yen. The Reserve Bank of Australia released minutes of its August meeting, during which it had performed an interest rate cut, today. Among concerns voiced by Australian policy makers […]
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August 162016
Japanese Yen Gains Against Majors After Losses Last Week
Japanese yen is higher today, gaining against its major counterparts following last week’s losses. Weak data weighed on the yen last week, but this week the currency’s performance is driven by world events. For now, there is enough concern that the Japanese yen is up mostly across the board. Japanese yen was weaker at the end of last week, thanks to weaker than expected GDP data […]
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