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Day: April 26, 2018
April 262018
Rising Import Prices Give Little Help to Australian Dollar
Macroeconomic data released in Australia today was much better than expected, but that had little impact on the Australian dollar. The currency was mixed intraday and is trading virtually flat as of now. The Australian Bureau of Statistics reported that import prices rose 2.1% in the March quarter of 2018 from the previous three months following the 2.0% increase in the December quarter. That was a noticeably faster pace of growth than 1.3% […]
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April 262018
Krona Drops as Sweden’s Central Bank Postpones Rate Hike
The Swedish krona fell today, touching the lowest level since June against the US dollar, as the nation’s central bank postponed the planned date of an interest rate hike from the third quarter of this year to the fourth quarter. The Riksbank left its main interest rate at -0.5% today. The central bank voiced concern about inflation: Underlying inflation has been somewhat lower than expected recently, which raises questions regarding […]
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April 262018
EUR/USD Recovers as Mario Draghi Downplays Poor Data
EUR/USD dropped today after the European Central Bank left its monetary policy unchanged and signaled that it is going to keep interest rates low for a long time. (Event A on the chart.) Yet the currency pair bounced after ECB President Mario Draghi downplayed the recent negative macroeconomic reports in his introductory statement before the press conference, saying that the data is “consistent with a solid and broad-based expansion of the euro […]
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April 262018
Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News
To get the Asia AM Digest every day, SIGN UP HERE Current Market Developments – BoC’s Poloz Speech As the FX market transitioned to Thursday’s session, Bank of Canada’s Governor Stephen Poloz was speaking at the Senate. He reiterated that higher rates will be warranted over time. Mr. Poloz also said that some risks to […]
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