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Day: November 10, 2016
November 102016
Canadian Dollar Hurt by Oil Prices & Trump’s Victory
The Canadian dollar fell today, hurt by the drop of crude oil prices and concerns about the future of trading between the United States and Canada. The currency still managed to beat the very weak Japanese yen. The Canadian dollar faces the same problems as the Mexican peso as both Mexico and Canada have strong trading ties with the USA. And with President-elect Donald Trump wanting to rework the North American Free Trade Agreement or dismiss it completely, […]
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November 102016
Mexican Peso Extends Slump After Trump Wins Presidency
The Mexican peso tanked after Republican candidate Donald Trump won the US presidential elections, and the currency continued sinking today. The United States are the biggest trading partner of Mexico, therefore have a big impact on the Mexican economy. And it is widely held view that Trump’s policies will be negative to Mexico. In particular, Trump wants to scrap or renegotiate the North American Free Trade Agreement which was immensely helpful […]
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November 102016
EUR/USD Falls as Markets Come to Terms with Trump’s Victory
EUR/USD declined for the second day today as markets came to terms with the fact that Republic nominee Donald Trump won the presidential race. While his victory was considered a negative factor for the dollar earlier, now analysts speculate that his policies look inflationary and are going to encourage the Federal Reserve to continue raising interest rates. Initial jobless claims fell from 265k to 254k last week while experts […]
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November 102016
Sterling on High After US Election Result
A day after the shock US election result, sterling continues to increase in value against the dollar. On Thursday, the pound continued to gain further momentum, rising by 0.1% during todayâs trading. The gains in sterlingâs value are good news for UK businesses who depend on imports. However, the biggest question is whether the poundâs appreciation will continue, and expert analysis suggests the change in the poundâs fortunes are not set to last. Eric Theoret, […]
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November 102016
Japanese Yen Slumps as Upbeat Sentiment Stems from Trump’s Victory
The Japanese yen continued to lose against the US dollar on Thursday following its rapid decline yesterday, as the greenback recovered from the initial reaction to Donald Trumpâs victory in the US presidential election. The yen has been falling rapidly since mere hours after the Republican candidate became the newest US president, even though the Japanese currency briefly touched its highest level against the dollar since October 3. The dollarâs powerful […]
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November 102016
Australian Dollar Attempts to Bounce, Fails
The Australian dollar was trying to rebound today after yesterday’s drop but failed. The currency has started a decline at about 10:45 GMT and continued to fall till now. Australia’s economic data released on Thursday was mixed, giving the currency no help but also not hindering it. Melbourne Institute Inflation Expectations fell to 3.2% in November from 3.7% in October. Meanwhile, seasonally adjusted Australian home loans rose […]
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November 102016
Dollar Gains as Initial Shock from Trumpâs Victory Fades
The US dollar rose on Thursday to its highest level since October 27 as the currency recovered from all of its recent losses, which followed Donald Trumpâs victory in the US presidential election. The dollar then proceeded to erase its declines during the previous two weeks as traders adjusted to the surprising win by Trump. Trumpâs promised agenda as a president include plans for building a wall on the US border with Mexico and ending the North American […]
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November 102016
New Zealand Dollar Sinks for Second Day as RBNZ Cuts Interest Rates
The New Zealand dollar sank today after the Reserve Bank of New Zealand decided to cut its main interest rates. It was the second consecutive day of decline after victory of Republican candidate Donald Trump in the US presidential elections sent markets into disarray. The RBNZ cut its Official Cash Rate by 25 basis points to 1.75%. Such decision was largely expected by market participants. The central bank complained […]
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