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Day: September 26, 2018
September 262018
Canadian Dollar Plunges on Fed Rate Hike, NAFTA Uncertainty
The Canadian dollar is plunging midweek after the Federal Reserve raised interest rates and on growing uncertainty regarding a new North American Free Trade Agreement (NAFTA). Without any upcoming Canadian economic events, traders will look ahead to key US numbers later this week. On Wednesday, the Federal Open Market Committee (FOMC) voted unanimously to boost a key US interest rate by a quarter-point, from 2% to 2.25%, the highest […]
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September 262018
Higher Interest Rates Don’t Help Czech Koruna
The central bank of the Czech Republic raised interest rates today, but that did not prevent the Czech koruna from falling against the US dollar. The Czech National Bank announced today: At its meeting today, the CNB Bank Board increased the two-week repo rate (2W repo rate) by 25 basis points to 1.50%. At the same time, it increased the Lombard rate to 2.50% and the discount rate to 0.50%. The new interest […]
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September 262018
US Dollar Trades Sideways in Anticipation of Fed Interest Rate Hike
The US dollar was little changed today, though rose versus most European currencies as markets were waiting for the monetary policy decision of the Federal Reserve and accompanying forecasts that should reveal Fed’s outlook for the future. The Fed will conclude its two-day meeting today and will announce the decision at 18:00 GMT. It is widely expected that the US central bank will raise its main interest rate by 25 […]
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September 262018
NZD Rallies on Improving Business Confidence Despite Record Trade Deficit, Unable to Keep Gains
The New Zealand dollar behaved similar to its Australian counterpart, rising intraday but trimming gains later. New Zealand’s macroeconomic data released over the trading session was mixed, though the currency paid more attention to the good part. On the positive side, the ANZ business confidence index improved to -38.3 in September from -50.3 in August. It was the highest reading since May. The positive report was largely responsible for the kiwi’s […]
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September 262018
Australian Dollar Fails to Keep Gains Ahead of Fed Decision
The Australian dollar rallied intraday during the current trading session but failed to maintain gains and is trading near the opening level now. Market analysts argued that the reason for the gains were the rally of Chinese stocks. The Shanghai Stock Exchange Composite Index climbed 0.92% today, rising above the psychologically important level of 2,800. The Aussie rallied on the news initially but retreated afterwards, likely because traders were cautious ahead […]
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September 262018
EUR/USD Volatile After FOMC Rate Hike, Decides to Go Down
EUR/USD was very volatile after the Federal Open Market Committee hiked interest rates and suggested there will be one more rate hike this year. Initially, traders were unsure how to interpret the statement’s wording, resulting in big swings of the currency pair. Ultimately, it decided to go down. New home sales were at the seasonally adjusted level of 629k in August, matching forecasts. The July figure got a negative […]
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