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Day: October 6, 2016
October 62016
Great Britain Pound at New 31-Year Low
The Great Britain pound sank today, reaching a new 31-year low, as fears of Brexit continued to plague the currency. Coupled with the extremely loose central bank’s monetary policy, that makes the currency completely unattractive to traders (with the possible exceptions of bottom pickers). During the weekend, Britain’s Prime Minister Theresa May announced the time limit for a start of the Brexit process — end of March 2017. The bold stance of the nation’s leader led to speculations […]
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October 62016
Dollar Strong Ahead of Non-Farm Payrolls
The US dollar continued to dominate the Forex market today, rising against its major peers, as traders continued to speculate about the possibility of an interest rate hike in December. While yesterday’s employment data released from the United States was disappointing, initial jobless claims released today showed a drop to 249,000 last week from 254,000 registered the week before. Experts had thought that the indicator would stay unchanged. That […]
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October 62016
Swiss Inflation Misses Forecast, Makes Franc Weak
The Swiss franc was soft today despite the risk-negative sentiment that should have supported the currency. Yet the worse-than-expected inflation data did not allow the currency to rally. Switzerland’s Consumer Price Index rose 0.1% in September from the previous month compared to the consensus forecast of 0.2% growth. Year-on-year, consumer prices fell 0.2%. The worse-than-expected data prevented the Swissie from gaining on risk aversion that was driving riskier currencies […]
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October 62016
Australian Dollar Trades Lower Even as Trade Deficit Shrinks
The Australian dollar fell today against its major peers even though economic data released during the trading session showed that Australia’s trade balance deficit shrank in August. The likely reason for the currency’s poor performance were expectations of monetary tightening from the US Federal Reserve. Australia’s trade deficit narrowed from A$2.12 billion in July to A$2.01 billion in August while analysts had predicted an increase. Yet the Aussie […]
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October 62016
Canadian Dollar Stays Flat After Mixed Trading
The Canadian dollar was little changed during Thursday’s Asian trading session after demonstrating mixed performance during the Wednesday’s session. Prices for crude oil rallied on Wednesday, but the currency failed to profit from the rally, and now crude has retreated, depriving the loonie from support. On the positive note, Canada’s trade balance deficit narrowed from C$2.2 billion in July to C$1.9 billion in August. The encouraging data suggested that the nation’s […]
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