This Wednesday, March 20th the FOMC will make their statement at 2 PM EST. This is the second FOMC meeting this calendar year and the big question is what will they say? From a monthly point of view, it is one of the most anticipated reports over the course of a month. It isn’t so … “Will the FOMC Harpoon the Dow?”
Month: March 2013
AUD Gains vs. Other Majors over the Week
The Australian dollar gained against most of its major peers this week, posting the strongest rally in six months. The currency gained for the fourth straight week against the euro and the New Zealand dollar. Fundamental indicators from Australia, including the employment figure, continued to look surprisingly good, making investors trim their bets on an interest rate cut from the Reserve Bank of Australia and benefiting the Aussie. Some overseas data was not … “AUD Gains vs. Other Majors over the Week”
CAD at Three-Week High vs. USD
The Canadian dollar advanced today, reaching the highest level in three weeks versus its US counterpart. The currency fell against the euro, but almost erased the drop, while the loonie maintained its losses versus the Japanese yen. The US Consumer Price Index increased 0.7 percent in February, suggesting that the US economy is on track to growth. At the same time, the level of inflation is not high enough to make the Federal Reserve … “CAD at Three-Week High vs. USD”
Dollar Falls as Traders Do Not Anticipate Fed to Drop Stimulus
The US dollar retreated today as traders anticipate that the Federal Reserve will maintain its stimulating monetary policy even after inflation accelerated. Such expectations added to pressure on the currency. The Fed will hold its policy meeting on March 20. Specialists do not anticipate any change to the monetary policy. There were talks that the central bank may reduce stimulus as the economy improves, but it almost certainly … “Dollar Falls as Traders Do Not Anticipate Fed to Drop Stimulus”
UK Pound Continues to See Gains against the US Dollar
UK pound continues to gain ground against the US dollar today, after yesterday’s upbeat performance. Even though there are some factors that would normally put downward pressure on the sterling, the British currency is doing well enough today. Yesterday, Mervyn King, the Bank of England governor, made some comments that were downright optimistic when compared to what he has said recently. He mentioned … “UK Pound Continues to See Gains against the US Dollar”
Euro Gains Amid Uncertainty
Even with a level of uncertainty, the euro is gaining ground today. The 17-nation currency is up against its major counterparts, even as a number of issues remain unresolved. It’s been an interesting couple of days for the eurozone. There is a measure of uncertainty about what’s going to happen next, but that hasn’t stopped the euro from heading higher against other major currencies today. Risk appetite is helping, especially … “Euro Gains Amid Uncertainty”
South Korean Won Heads to Weekly Decline
The South Korean won fell today, heading to a weekly decline, as the central bank voiced worries about slowing economic growth, while politicians were concerned about the negative impact of depreciating yen. The Bank of Korea left its main interest rate unchanged yesterday and predicted “the economy to have sustained a weak level of growth”. South Korean officials said that the huge fall of the Japanese yen is hurting Korea’s economy. The won … “South Korean Won Heads to Weekly Decline”
Zloty Erases Losses, Under Pressure from Fundamentals
The Polish zloty gained today, erasing previous losses. The earlier drop was caused by worries that unfavorable fundamentals will lead to another interest rate cut. Poland’s consumer price inflation slowed to 1.3 percent in February from a year ago, the lowest level since October 2006, being below the forecast of 1.5 percent. The current account deficit widened to â¬1.5 billion in January from â¬1.2 billion in December. The negative macroeconomic … “Zloty Erases Losses, Under Pressure from Fundamentals”
GBPUSD Making a Three Wave Rally (Elliott Wave Analysis)
This is a follow up on the article: GBPUSD Could Recover Back Above 1.5000 GBPUSD is in a sharp uptrend in the past two days, which was expected from a technical point of view after five waves down in red wave 5) of (3) followed by a broken trend-line. Well, the current rally has an impulsive … “GBPUSD Making a Three Wave Rally (Elliott Wave Analysis)”
FOMC unlikely to change policy, but statement could be
While the Fed isn’t expected to change the monetary policy at the upcoming meeting, the FOMC could release a more upbeat statement, says David Song of DailyFX. On the other side of the Atlantic, the ECB could still cut the rate later in the year. In the interview below, Song also discusses the scope for … “FOMC unlikely to change policy, but statement could be”