After yesterday’s surge in Sterling after the decision by the Fed chairman not to taper, today’s release of weaker than expected retail sales figures has pushed Sterling lower albeit it is still above 1.60 USD. UK retail sales fell unexpectedly by the most in 10 months which surprised the markets but nothing compared to what … “Weak retail sales released an excuse to sell the pound?”
Month: September 2013
Pound Remains Strong After BoE Minutes & Fed Announcement
The Great Britain pound generally remained strong after the hawkish policy minutes of Britain’s central bank and the Federal Reserve announcement, though retreated somewhat against the euro. The Bank of England released minutes of its September meeting yesterday and the central bank was fairly optimistic. It wrote: Domestically, there were increased signs that the recovery was taking hold, which had been accompanied by an upward movement in sterling market interest … “Pound Remains Strong After BoE Minutes & Fed Announcement”
Canadian dollar celebrates quietly after the Fed –
Ben Bernanke sent the US dollar plunging by surprising the markets and not tapering bond buys. This was a positive surprise for stocks and all the other currencies. The Canadian dollar also rallied, extending earlier gains and reaching a three month high against the greenback. However, in comparison to other currencies, the reaction was relatively … “Canadian dollar celebrates quietly after the Fed –”
Breaking News: Fed Avoids QE Tampering, Dollar Pounded into the Ground
The Federal Reserve shocked the Forex market today as it made no changes to its monetary policy, avoiding stimulus tampering that everybody was expecting. The dollar came crashing down as a result. The most important event this week (or perhaps even this month) has occurred today: the Federal Open Market Committee meeting. Most market participants believed that some form of quantitative easing reduction will be announced … “Breaking News: Fed Avoids QE Tampering, Dollar Pounded into the Ground”
Euro Struggles Ahead of Fed and German Election
Euro is struggling today. Part of the struggle is due to the fact that traders are holding their collective breath, waiting for the Federal Reserve announcement that many expect to result in a modest beginning to the tapering of the current monthly asset purchase program. Also contributing to the euro’s struggles, though, is uncertainty over the upcoming German election. Even a modest reduction in the Federal Reserve‘s asset purchase program could help boost the dollar … “Euro Struggles Ahead of Fed and German Election”
Dollar Mostly Rangebound Ahead of Federal Reserve
The Federal Reserve is expected to make an announcement later today, and many Forex traders are waiting to see if a taper is on the way. As a result of this interest, the dollar is mostly rangebound today. Traders are positioning themselves ahead of the Fed announcement, hoping to be able to take advantage of whatever policy is shared. Right now, many expect that the Federal Reserve will announce a slight drop in its monthly … “Dollar Mostly Rangebound Ahead of Federal Reserve”
Look out for the timeline to end QE in Bernanke’s
The initial questions for the FOMC are: will the Fed taper or not? And how much? Yet the focus will shift quickly to the next steps the Fed will take. The biggest question is: when will QE end? In the dramatic press conference in June, Bernanke said that the Fed may end QE entirely by … “Look out for the timeline to end QE in Bernanke’s”
Aussie Soft, Positive Fundamentals Limit Losses
The Australian dollar was a bit soft today after yesterday’s gains amid uncertainty on the Forex market caused by today’s announcement of the Federal Reserve policy decision. Losses were limited as domestic fundamental reports were favorable. The Conference Board leading index for Australia advanced 0.3 percent in July after dropping as much as 1.1 percent (revised from the drop of 0.2 percent) in the previous month. The Melbourne Institute leading indicators rose … “Aussie Soft, Positive Fundamentals Limit Losses”
NZ Dollar Retreats as Current Account Deficit Widens
The New Zealand dollar slid today as the current account deficit widened last quarter and as investors were cautious ahead of today’s Federal Reserve policy decision. The New Zealand current account posted a deficit of NZ$2.2 billion in the second quarter of 2013, $0.1 billion above the first quarter’s gap (which was revised positively). The median forecast promised bigger shortage. Analysts remain optimistic about the New Zealand economy and, as a result, … “NZ Dollar Retreats as Current Account Deficit Widens”
QE Tapering Preview: reasons, scenarios and outcomes
The Federal Reserve convenes for a highly anticipated meeting to make a decision about QE tapering. There is a a very high probability that the Fed will announce a reduction in the pace of bond buying on September 18th, and probably by $10-15 billion to $70-75 billion per month. Here are 5 reasons for the expected … “QE Tapering Preview: reasons, scenarios and outcomes”