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Day: August 19, 2016
August 192016
Pound Ends Friday with Losses
The Great Britain pound ended Friday with losses amid speculations that the United Kingdom may start the process of leaving the European Union in the first half of 2017, ahead of the important elections in Germany and France. Previously, many market participants were thinking that it would take a long time for Great Britain to start legal procedures for exiting the EU. Yet there were reports that UK Prime Minister Theresa May […]
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August 192016
Talks About Fed Tightening Buoy US Dollar
The US dollar bounced today, rising for the first day in six against the US dollar, as traders continued to speculate about prospects for an interest rate hike from the Federal Reserve. John Williams, San Francisco Fed President, added his voice to the chorus of policy makers who want to continue monetary tightening sooner rather than later. He said yesterday: In the context of a strong domestic economy with good momentum, it makes […]
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August 192016
Polish Zloty Under Pressure from Monetary Easing Outlook
The Polish zloty fell against other most-traded currencies, including the US dollar, during the Friday’s trading session, pressed by expectations of monetary easing from the nation’s central bank. Voting member of the central bank Jerzy Zyzynski told Reuters today that he favors an interest rate cut: I would back cutting interest rates. When uncertainty was high, the MPC supported a policy of stabilising rates. Now, perhaps, uncertainty […]
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August 192016
Canadian Dollar Suffers from Disappointing CPI & Retail Sales
There were two important economic releases from Canada scheduled for today, the Consumer Price Index and retail sales, and both of them turned out to be disappointing. Unsurprisingly, the market reacted to the news by pushing the Canadian dollar lower. Canadian retail sales fell 0.1% in June while core components (retail sales excluding motor vehicle and parts dealers) were down 0.8%. Forecasters had promised growth for both indicators. The CPI […]
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August 192016
Canadian Dollar Little Changed After Thursday’s Rally
The Canadian dollar was little changed at the start of the Friday’s trading session after rallying against the US dollar and the Japanese yen on Thursday. The rally was caused by the rise of crude oil prices. The Canadian currency continues to follow moves of crude oil. Fortunately for the loonie, oil prices were moving up on Thursday, lifting the currency along with the them. Crude was rising on speculations about possible output cap by major oil producing […]
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