The US dollar rallied this week and ended the month with gains against the majority of its most-traded peers as speculations about potential quantitative easing tampering in September continued to push the currency up. As was expected, the dollar was unsure where to go at the start of the week and was unable to maintain rally. Yet it quickly found a reason to resume its advance: a potential war in Syria. Of course, positive domestic fundamentals also played … “Dollar Ends Week & Month with Gains”
Month: August 2013
Canadian Dollar Ends Friday Higher vs. Euro Despite Falling GDP
The Canadian dollar rose against the euro and ended the last trading day of this week almost flat versus the US dollar and the Japanese yen even though Canadian economy shrank more than was predicted by experts. Canadian gross domestic product shrank 0.5 percent in the second quarter of 2013, more than was predicted (0.4 percent). GDP expanded 0.2 percent in the first quarter. The data suggested that it is … “Canadian Dollar Ends Friday Higher vs. Euro Despite Falling GDP”
Pound Ends Month with Biggest Gains vs. Euro in a Year
The Great Britain ended the month with the biggest gain against the euro in a year as the sterling continued to rise on improving consumer sentiment and increasing house prices. The UK currency ended Friday flat versus the US dollar and closed with a small loss against the Japanese yen. The GfK UK Consumer Confidence Index increased by three points to -13 in August. The report said: As more and more official figures show that we are all … “Pound Ends Month with Biggest Gains vs. Euro in a Year”
US Dollar Gains on Commodity Drop, Economic Gains
US dollar is heading higher today, gaining as better than expected economic data supports the greenback. Commodities are lower today, and a gold price below $1,400 an ounce is also helping the dollar in Forex trading. Greenback is gaining today, thanks in large part to the unexpectedly good economic data just released. US GDP increased by 2.5 per cent in the second quarter of 2013, up from the initial estimate … “US Dollar Gains on Commodity Drop, Economic Gains”
Latest Unemployment Report Can’t Help Euro
Pessimism is strong today, and the euro is heading lower as a result. Even a drop in the number of people claiming unemployment in July isn’t helping the euro. The 17-nation currency remains lower as uncertainty prevails, and as signs of growth in the US economy continue to support the greenback. Eurostat reports that the number of unemployed in the eurozone declined by 15,000 in the month of July. The decline, though encouraging, didn’t budge the unemployment rate, which is stuck at 12.1 per cent … “Latest Unemployment Report Can’t Help Euro”
NZ Dollar Stays Flat, Shrugs Off Negative Fundamentals
The New Zealand dollar was able to stay flat today even as domestic fundamentals were detrimental to the currency. The general market sentiment was not helpful either. Seasonally adjusted building permits fell 0.8 percent in July from June, compared to the consensus forecast of a 1.3 percent rise. The ANZ Business Confidence eased from 52.8 in July to 48.1 in August, though the report said that “business confidence and the various components remain … “NZ Dollar Stays Flat, Shrugs Off Negative Fundamentals”
Data from Statistics Norway Makes Krone Weaker
The Norwegian krone fell today as a set of negative reports was released today by Statistics Norway, making the nation’s currency less attractive to traders who prefer to avoid risky assets due to the poor market sentiment. Norwegian retail sales dropped as much as 1.3 percent in July from June, when the decrease was by just 0.2 percent. Household consumption of goods slumped 2 percent last month from a month ago. The employment … “Data from Statistics Norway Makes Krone Weaker”
Loonie Remains Soft vs. Greenback Ahead of GDP Report
The Canadian dollar remained soft today against its US counterpart after yesterday’s losses on concerns that today’s report will show that the nation’s economy shrank last quarter. Analysts estimated ahead of the official data that Canadian gross domestic product shrank 0.4 percent in the second quarter of this year. Meanwhile, US GDP expanded faster than was expected, showing that the US economy fares better … “Loonie Remains Soft vs. Greenback Ahead of GDP Report”
Signs of US Growth Propel Dollar Higher
The US dollar jumped as signs of economic growth in the United States fueled speculations about possible quantitative easing tampering by the Federal Reserve in September. US economic growth accelerated from 1.1 percent in the first quarter of this year to 2.7 percent in the second quarter, according to the preliminary estimate. It was above the advance estimate of 1.7 percent and the median forecast of 2.2 percent. Unemployment claims decreased from 337,000 to 331,000 last week, … “Signs of US Growth Propel Dollar Higher”
Indonesian Central Bank Raises Interest Rates, Rupiah Up
The Indonesian rupiah advanced today as the nation’s central bank made a surprise move, raising the main interest rate. The Indonesian central bank joined central banks of other emerging economies in an effort to support domestic currency. The Bank Indonesia boosted its benchmark interest rate by 50 basis points today. The decision was a surprise, not least because the policy meeting was unscheduled. Previously, traders were worried that the central bank … “Indonesian Central Bank Raises Interest Rates, Rupiah Up”