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Day: October 26, 2016
October 262016
Canadian Dollar Under Pressure During Wednesday’s Trading
The Canadian dollar was under pressure during the Wednesday’s trading session as falling oil prices and concerns about potential monetary easing from the Bank of Canada made the currency not particularly attractive. Performance of the loonie (as Canada’s currency is often nicknamed) is usually tied to moves of prices for crude oil. So happened that the commodity logged substantial losses and dragged the currency down along the way today. Optimism about production […]
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October 262016
Canadian Dollar Under Pressure During Wednesday’s Trading
The Canadian dollar was under pressure during the Wednesday’s trading session as falling oil prices and concerns about potential monetary easing from the Bank of Canada made the currency not particularly attractive. Performance of the loonie (as Canada’s currency is often nicknamed) is usually tied to moves of prices for crude oil. So happened that the commodity logged substantial losses and dragged the currency down along the way today. Optimism about production […]
Read more
October 262016
US Dollar Mixed as Fed December Meeting Remains in Spotlight
The US dollar was mixed today as Forex market participants continued to speculate about whether the Federal Reserve is going to hike interest rates in December or not. For the most part, speculators continued to bet on a hike in December. The problem for the dollar is that such expectations are already reflected in the exchange rate, meaning that news supporting the idea of the December rate increase should have limited impact on the currency. On the other hand, news […]
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October 262016
US Dollar Mixed as Fed December Meeting Remains in Spotlight
The US dollar was mixed today as Forex market participants continued to speculate about whether the Federal Reserve is going to hike interest rates in December or not. For the most part, speculators continued to bet on a hike in December. The problem for the dollar is that such expectations are already reflected in the exchange rate, meaning that news supporting the idea of the December rate increase should have limited impact on the currency. On the other hand, news […]
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October 262016
Dollar Falls vs. Euro, Decline Limited
The dollar fell against the euro today while market participants continued to speculate about chances for an interest rate hike from the Federal Reserve in December. While the general consensus is that the Fed is going to hike rates, that outcome has already been priced in. Any doubts, on the other hand, have potential to hurt the currency badly. Saying that, the greenback’s drop was limited, and the US currency is currently […]
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October 262016
Pound Flat While Markets Focus on Brexit & BoE Stimulus
The Great Britain pound continued to consolidate, trading mostly flat today, as market participants continued to speculate about the impact of the Brexit and chances for additional monetary easing from the Bank of England. Yesterday, BoE Governor Mark Carney said that the central bank cannot ignore the big decline of the currency since the announcement of the Brexit. That led to speculations that BoE is not going to ease monetary policy further at the next week’s meeting. […]
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October 262016
Pound Flat While Markets Focus on Brexit & BoE Stimulus
The Great Britain pound continued to consolidate, trading mostly flat today, as market participants continued to speculate about the impact of the Brexit and chances for additional monetary easing from the Bank of England. Yesterday, BoE Governor Mark Carney said that the central bank cannot ignore the big decline of the currency since the announcement of the Brexit. That led to speculations that BoE is not going to ease monetary policy further at the next week’s meeting. […]
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October 262016
Australian Dollar Retreats from Session Highs, Stays Above Opening
The Australian dollar rose today following the release of better-than-expected inflation data. While the currency has retreated from the session highs as of now, it is still trading above the opening level. The Consumer Price Index rose 0.7% in the September quarter of this year from the previous three months after increasing 0.4% in the June quarter. The actual increase was above the median forecast of 0.5%. The better-than-expected data reduced chances for the Reserve Bank […]
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October 262016
Australian Dollar Retreats from Session Highs, Stays Above Opening
The Australian dollar rose today following the release of better-than-expected inflation data. While the currency has retreated from the session highs as of now, it is still trading above the opening level. The Consumer Price Index rose 0.7% in the September quarter of this year from the previous three months after increasing 0.4% in the June quarter. The actual increase was above the median forecast of 0.5%. The better-than-expected data reduced chances for the Reserve Bank […]
Read more