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Day: October 27, 2016
October 272016
Canadian Dollar Mostly Flat amid Battling Fundamentals
The Canadian dollar was mostly flat against its major rivals (though not versus the Japanese yen) as good and bad fundamentals battled for the right to determine the direction for the currency to move. High chances for an interest rate hike from the Federal Reserve in December (which now stands at 78% according to CME FedWatch) make most currencies soft against the US dollar. The dovish stance of Canada’s central bank makes the loonie vulnerable against […]
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October 272016
Canadian Dollar Mostly Flat amid Battling Fundamentals
The Canadian dollar was mostly flat against its major rivals (though not versus the Japanese yen) as good and bad fundamentals battled for the right to determine the direction for the currency to move. High chances for an interest rate hike from the Federal Reserve in December (which now stands at 78% according to CME FedWatch) make most currencies soft against the US dollar. The dovish stance of Canada’s central bank makes the loonie vulnerable against […]
Read more
October 272016
Swedish Krona Sinks as Riksbank Signals About Possible Easing
The Swedish krona fell today after the nation’s central bank signaled that it is ready to cut interest rates deeper into the negative territory and expand its quantitative easing program. The Riksbank kept its main interest rate at -0.5% at today’s policy meeting. While the krona initially rallied due to absence of a rate cut, the currency backed off after market participants digested the policy statement and discovered that it […]
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October 272016
Swedish Krona Sinks as Riksbank Signals About Possible Easing
The Swedish krona fell today after the nation’s central bank signaled that it is ready to cut interest rates deeper into the negative territory and expand its quantitative easing program. The Riksbank kept its main interest rate at -0.5% at today’s policy meeting. While the krona initially rallied due to absence of a rate cut, the currency backed off after market participants digested the policy statement and discovered that it […]
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October 272016
EUR/USD Rallies Intraday, Falls Below Opening Level Later
EUR/USD attempted to rally during the current trading session but failed to keep upward momentum. As of now, the currency pair is in a sharp decline, falling below the opening level. Economic data released from the United States was mixed today, but that did not deter the dollar from gaining on the euro. Initial jobless claims fell from 261k to 258k last week while analysts had predicted them to stay […]
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October 272016
Dollar Maintains Its Gains Against Yen on Interest Policy Forecasts
The US dollar strengthened against the yen as it boosted the gains it made over the past three days on bets that the Federal Reserve will raise its interest rates, increasing tradersâ appetite for the currency. The Bank of Japan is expected to keep its stimulus program unchanged during the meeting of Japanese policymakers next week, which would offer more support for the greenback. On the other hand, markets believe thereâs a 71.4 percent […]
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October 272016
Dollar Maintains Its Gains Against Yen on Interest Policy Forecasts
The US dollar strengthened against the yen as it boosted the gains it made over the past three days on bets that the Federal Reserve will raise its interest rates, increasing tradersâ appetite for the currency. The Bank of Japan is expected to keep its stimulus program unchanged during the meeting of Japanese policymakers next week, which would offer more support for the greenback. On the other hand, markets believe thereâs a 71.4 percent […]
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October 272016
New Zealand Trade Deficit Widens, NZD Down
The New Zealand dollar fell against the US dollar and the euro after Thursday’s data revealed that the New Zealand trade balance deficit widened last month unexpectedly. The New Zealand trade balance posted a deficit of NZ$1.4 billion in September. It was an increase from the August’s value of NZ$1.2 billion while experts had predicted a decrease to NZ$1.1 billion. The data hurt the New Zealand dollar, though other risky commodity […]
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October 272016
New Zealand Trade Deficit Widens, NZD Down
The New Zealand dollar fell against the US dollar and the euro after Thursday’s data revealed that the New Zealand trade balance deficit widened last month unexpectedly. The New Zealand trade balance posted a deficit of NZ$1.4 billion in September. It was an increase from the August’s value of NZ$1.2 billion while experts had predicted a decrease to NZ$1.1 billion. The data hurt the New Zealand dollar, though other risky commodity […]
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October 272016
Pound Refuses to Move Far from Opening After GDP Report
The Great Britain pound continued to move largely sideways on Thursday, refusing to move far from the opening level and extending the period of consolidation that has starter a while ago. Even the positive surprise in the form of faster-than-expected economic growth did not influence the currency much. Britain’s gross domestic product rose 0.5% in the third quarter of 2016. While it was slower than the second quarter’s growth of 0.7%, it was a bigger […]
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