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Day: January 13, 2017
January 132017
Great Britain Pound Halts Decline After Optimistic Speech from Michael Saunders
The Great Britain pound rose today (though the gains were very limited) following the rather optimistic speech from Michael Saunders, Bank of England policy maker. Saunders was rather optimistic, predicting low unemployment in 2017: Rather than the rise in unemployment forecast in the November Inflation Report, it seems quite possible to me that the jobless rate will stay below 5% this year. In considering the appropriate […]
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January 132017
Great Britain Pound Halts Decline After Optimistic Speech from Michael Saunders
The Great Britain pound rose today (though the gains were very limited) following the rather optimistic speech from Michael Saunders, Bank of England policy maker. Saunders was rather optimistic, predicting low unemployment in 2017: Rather than the rise in unemployment forecast in the November Inflation Report, it seems quite possible to me that the jobless rate will stay below 5% this year. In considering the appropriate […]
Read more
January 132017
EUR/USD Fails to Rally for Third Day
EUR/USD was attempting to extend to extend its rally for third day today but failed and is now trading near the opening level. The currency pair halted its rally after the better-than-expected PPI and retail sales reports from the United States. PPI rose 0.3% in December. This is compared to the median forecast of 0.1% and the 0.4% increase in November. (Event A on the chart.) Retail sales advanced 0.6% in December. The actual reading exceeded […]
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January 132017
US Dollar Recovers Briefly Boosted by Retail Sales Data for December
The release of positive retail sales data for the month of December boosted the performance of the US dollar against major currencies before the gains were erased. The US dollar rose briefly after the US Commerce Department released data regarding consumption during the month of December. The positive consumption data led to the greenback rising sharply against currencies such as the British pound, the euro, and the Japanese yen. This was a major relief to dollar bulls given […]
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January 132017
US Dollar Recovers Briefly Boosted by Retail Sales Data for December
The release of positive retail sales data for the month of December boosted the performance of the US dollar against major currencies before the gains were erased. The US dollar rose briefly after the US Commerce Department released data regarding consumption during the month of December. The positive consumption data led to the greenback rising sharply against currencies such as the British pound, the euro, and the Japanese yen. This was a major relief to dollar bulls given […]
Read more
January 132017
South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals
The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency. The KOSPI Index fell 0.5% today. The drop of the Korean stocks was led by Samsung shared, which lost 3% of their value after Samsung Group leader Jay Y. Lee was detained for questioning on bribery suspicion. The Bank of Korea left its main interest rate at the record low […]
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January 132017
South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals
The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency. The KOSPI Index fell 0.5% today. The drop of the Korean stocks was led by Samsung shared, which lost 3% of their value after Samsung Group leader Jay Y. Lee was detained for questioning on bribery suspicion. The Bank of Korea left its main interest rate at the record low […]
Read more
January 132017
Turkish Lira Reverses Rally, Falling vs. US Dollar
The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down. The Turkish lira reversed yesterday’s rally against the US dollar today even though the greenback remained rather soft. It proved that analysts were right to be bearish on the Turkish currency due to concerns about political reforms, economic troubles, and militant attacks. Yet the government argued that […]
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January 132017
Turkish Lira Reverses Rally, Falling vs. US Dollar
The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down. The Turkish lira reversed yesterday’s rally against the US dollar today even though the greenback remained rather soft. It proved that analysts were right to be bearish on the Turkish currency due to concerns about political reforms, economic troubles, and militant attacks. Yet the government argued that […]
Read more