The New Zealand dollar fell today after Reserve Bank of New Zealand Governor Graeme Wheeler said that the central bank is prepared to weaken the currency. Wheeler said today: In recent months we have undertaken foreign exchange transactions to try and dampen some of the spikes in the exchange rate. We are prepared to scale up our foreign exchange activities if we see opportunities to have greater influence. The New … “NZ Dollar Slips as Wheeler Talks About Intervention”
Month: May 2013
Pound Rises with House Prices
The Great Britain pound advanced today as UK house prices grew this month amid hopes that the nation’s economy will recover. The Nationwide House Prices Index rose 0.4 percent in May, being near the analysts’ forecasts. The index did not show growth in the prior month. The report said: Widespread expectations that the economy will continue to recover gradually in the quarters ahead, that interest rates will remain low, … “Pound Rises with House Prices”
US Dollar Loses Ground Further on Lastest Economic News
US dollar is losing ground today, thanks in part to concerns that the economy is not ready to recover at quite the rate some had come to expect. The news is weighing on the greenback, and sending it lower against most of its major counterparts. Earlier, the speculation had all been on the side of the Federal Reserve ending its asset purchase program sooner rather than later. However, things have changed with … “US Dollar Loses Ground Further on Lastest Economic News”
Euro Gets Boost from Confidence Report
Euro is getting a bit of a boost today, thanks in part to the confidence report out of the eurozone. Economic confidence increased more than expected, and the euro is also seeing support as the United States sees disappointing economic data. The European Commission is reporting that economic confidence in the eurozone increased to 89.4 in May, which was more than expected. There are hopes that a sustained improvement in morale can help support … “Euro Gets Boost from Confidence Report”
USD/CAD: Trading the Canadian GDP May 2013
Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Friday … “USD/CAD: Trading the Canadian GDP May 2013”
Yen Profits from Signs of Global Slowdown
The Japanese yen climbed today against most major currencies as signs of global economic slowdown made investors seek safety, sending stocks and commodities down together with currencies related to growth. German unemployment climbed 21,000 last month, much more than was predicted by analysts. The International Monetary Fund revised China’s growth for this year from 8 percent to 7.75 percent. The forecast was not completely bad … “Yen Profits from Signs of Global Slowdown”
Canadian Dollar Stronger After Carney’s Last BoC Meeting
The Canadian dollar jumped today against its US counterpart and trimmed losses versus the euro after the policy meeting of the Canadian central bank. At the same time, the currency declined against the Japanese yen. Mark Carney led his last meeting as Bank of Canada President and made no surprise moves. The main interest rate remained at 1 percent. Such decision was expected by Forex market participants. The BoC stated that “global … “Canadian Dollar Stronger After Carney’s Last BoC Meeting”
US Dollar Drops on Profit Taking and Repositioning
US dollar is down against most of its major counterparts on what many consider profit taking right now. With Forex traders preparing to reposition themselves in light of the next round of economic data and predictions for central bank movements, it is little surprise that some profit taking is happening. Greenback is lower today as Forex traders appear to be repositioning themselves and taking profits. The dollar index … “US Dollar Drops on Profit Taking and Repositioning”
Elevated US Yields Provide Support for the Greenback
Treasury yields continue to move higher, closing above the 2% threshold and notching up relatively high yield differentials. The 2.20% level has not been seen in more than 18 months despite a declining global growth story. Although the US economy has gained enough traction to be able to withstand higher long term yields, the European … “Elevated US Yields Provide Support for the Greenback”
UK Pound Gets Small Boost Against US Dollar
UK pound is getting a small boost against the US dollar today, thanks to some support from the latest CBI sales data. While the help is rather small, it’s a little bit of a boost nonetheless. UK pound isn’t expected to make any big moves anytime soon against any currency. The latest CBI sales data indicates an improvement for the month of May, and that is providing the pound with a little … “UK Pound Gets Small Boost Against US Dollar”