The New Zealand dollar managed to reverse yesterday’s losses against its US counterpart today and traded sideways versus the Japanese yen. It was surprising, considering uncertainty about this month’s policy decision of the US Federal Reserve. The Fed conducts its two-day policy meeting on September 17–18. It is expected that the central bank will reduce monetary stimulus and analysts predict that today’s non-farm payrolls should … “NZ Dollar Defies Negative Market Sentiment”
Month: September 2013
Canadian Dollar Gains as Analysts Expect Positive Employment Report
The Canadian dollar rallied today against some other majors, including the euro and the Japanese yen, as traders expect a positive employment report tomorrow. The currency weakened a bit versus the US dollar. Analysts predict that tomorrow’s employment data will show an increase by 21,200 in August after dropping 39,400 in July. The unemployment rate should stay at 7.2 percent. The euro and the yen weakened against the loonie on such outlook, though the policy decisions … “Canadian Dollar Gains as Analysts Expect Positive Employment Report”
Swedish Krona Drops as Interest Rate Cut Remains Possible
The Swedish krona dipped today as the central bank left interest rates unchanged, but some policy makers were arguing that lower rates are necessary to facilitate economic growth. The Riksbank decided to leave its main interest rates unchanged at today’s meeting. The central bank noted in the statement that both global and domestic economies improved, saying: There are now increasing signs confirming that economic activity is … “Swedish Krona Drops as Interest Rate Cut Remains Possible”
GBP/USD Down After BoE Meeting, GBP/JPY Still Firm
The Great Britain pound dropped versus the US dollar today, but remained relatively firm against the Japanese yen after the Bank of England concluded its policy meeting, leaving interest rates and asset purchases unchanged. The BoE kept the main interest rate at 0.5 percent and the asset purchase program at £375 billion at today’s meeting. The bank did not comment on the decision, making some analysts think that policy makers are … “GBP/USD Down After BoE Meeting, GBP/JPY Still Firm”
Euro Loses Ground After ECB Decision
Euro is mostly lower today, losing ground following the ECB rate decision. With other central banks indicating that they could be on the verge of ending easing programs, the eurozone remains committed to looser monetary policy. That is weighing on the 17-nation currency today. ECB President Mario Draghi is concerned that raising rates right now, or sounding to optimistic about the eurozone’s recent economic improvements, could … “Euro Loses Ground After ECB Decision”
US Dollar Little Changed After Central Bank Announcements
Forex traders have been waiting for central bank data all week, and it is in. The data has offered little in the way of changes for the US dollar, although the greenback has a slight edge. The US dollar index is a little bit higher today. Central bank announcements are rolling in, and that is providing some help for the US dollar on the currency market, although most pairs are rangebound. It … “US Dollar Little Changed After Central Bank Announcements”
US Jobs Number could be decisive for Fed tapering
This Friday the all important US Non Farm Payrolls number is released for August and a strong number could be very bullish for the USD whilst hammering risk currencies and assets given the implications for US monetary policy. Various polls of economists suggest NFP could come in around 180,000, compared with 162,000 in July, which … “US Jobs Number could be decisive for Fed tapering”
GBPUSD Looks To Strengthen Further.
The pair is maintaining its bullish offensive leaving it targeting further upside towards the 1.5716 level. A break will aim at the 1.5750 level. Further out, resistance comes in at the 1.5800 level. On the downside, support lies at the 1.5477 level where a reversal of roles as support is likely to occur. Other supports … “GBPUSD Looks To Strengthen Further.”
BoJ Concludes Policy Meeting, Yen Little Changed
The Japanese yen traded sideways today, attempting to rise after the Bank of Japan concluded its September policy meeting and left monetary policy unchanged, refraining from additional easing. The BoJ held a meeting today and the accompanying statement revealed no changes to policy. The central bank noted: Japan’s economy is recovering moderately. Overseas economies as a whole are gradually heading toward a pick-up, although a lackluster performance is partly seen. … “BoJ Concludes Policy Meeting, Yen Little Changed”
Canadian Dollar Gains as BoC Leaves Interest Rates Stable
The Canadian dollar climbed today after the nation’s central bank maintained its benchmark overnight rate stable and mentioned no plans to reduce borrowing costs that are already quite low. The Bank of Canada kept its key interest rate at 1 percent today. It was not a surprise for market participants. The central bank said: As long as there is significant slack in the Canadian economy, the inflation outlook remains muted, … “Canadian Dollar Gains as BoC Leaves Interest Rates Stable”