US dollar index is rising today, gaining as a two-day Federal Reserve meeting gets under way. It’s been a somewhat dramatic day for trading so far, but right now the US dollar has the upper hand, even though there are expectations that a taper of the Fed’s asset purchase program is still somewhere in the future. Earlier in the day, the US dollar took a hit against the euro as a member of the ECB … “US Dollar Index Higher as Fed Begins Meeting”
Month: October 2013
Euro Struggles After Breaking Through 1.3800 Level Earlier
Euro is struggling right now, attempting to maintain its earlier strength. With expectations that the next Fed policy statement will continue to put off the taper, the euro gained, breaking through the 1.3800 level. However, the euro has since fallen back and is now down since the open. Euro saw a spike earlier today as Ewald Nowotny, from the European Central Bank, said that there aren’t tools … “Euro Struggles After Breaking Through 1.3800 Level Earlier”
Rupee Rises After Indian Central Bank Cuts Key Interest Rate
The Indian rupee rose today even after the central bank cut its key interest rate, while boosted some other borrowing costs to address imbalances in the domestic economy. The Reserve Bank of India reduced the marginal standing facility rate by 25 basis points to 8.75 percent. At the same time, the central bank increased the policy repo rate under the liquidity adjustment facility by 25 basis points to 7.75 percent. The RBI said … “Rupee Rises After Indian Central Bank Cuts Key Interest Rate”
Aussie Suffers from Stevens’ Comments
The Australian dollar extended its decline for the fourth trading session today after Reserve Bank Governor Glenn Stevens suggested that the currency may weaken significantly. Stevens said today: These levels of the exchange rate are not supported by Australia’s relative levels of costs and productivity. He concluded: So it seems quite likely that at some point in the future the Australian dollar will be materially lower than it … “Aussie Suffers from Stevens’ Comments”
EUR/USD: Trading the ADP jobs report October 2013
The ADP Non-Farm Employment Change measures the change in the number of employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Wednesday at 12:15 GMT. Indicator Background … “EUR/USD: Trading the ADP jobs report October 2013”
CLM integrates Neteller payments
Core Liquidity Markets introduces a new payment option: Neteller. This facilitates deposits and withdrawals. CLM recently introduced Chinese yuan trading. For more, here is the official press release: Core Liquidity Markets Pty Ltd, an Australia-based Forex, Metals, CFDs and Binary Options Financial Services Firm, has announced integration with Neteller. Neteller is a globally recognized name … “CLM integrates Neteller payments”
Pound Extends Decline After Disappointing Sales Report
The Great Britain pound was falling even as UK macroeconomic data was mostly good. Yesterday’s data about high street sales was not that encouraging though and it might have contributed to the weakness of the sterling. Confederation of British Industry released its Distributive Trades Survey for October that showed a net balance of +2 percent, well below expected +31 percent. Barry Williams, Asda Chief Merchandising Officer … “Pound Extends Decline After Disappointing Sales Report”
US Dollar: Week of Weakness or Week of Recovery?
The US dollar has experienced a massive sell-off after the Federal Reserve refrained from reduction of monetary stimulus and, especially, after US politicians failed to agree on a budget, leading to a government shutdown. Can the greenback recover this week? The major event over the week is the Fed policy meeting. Previously, it was widely accepted that the central bank is going to taper quantitative easing. Of course, the budget issues made … “US Dollar: Week of Weakness or Week of Recovery?”
Central Banks’ Accommodative Policies Make Aussie Stronger
The Australian dollar advanced today on speculations that central banks around the world will maintain monetary accommodation. Hopes that China will continue to show sustainable growth also helped the currency. It is expected that the Bank of Japan will keep its extremely accommodative policy intact this week and the Federal Reserve and the Reserve Bank of New Zealand will do the same. Such speculations support demand for the Aussie among … “Central Banks’ Accommodative Policies Make Aussie Stronger”
Yen Opens Lower as BoJ Maintains Easing Bias
The Japanese yen opened sharply lower today as Bank of Japan Deputy Governor Kikuo Iwata said that the central bank will maintain its monetary easing. The currency attempted to regain some of its strength since the opening, but failed so far. Iwata said over the weekend that the BoJ will continue to buy bonds until it reaches the 2 percent inflation target. Such comments hurt the yen and improved … “Yen Opens Lower as BoJ Maintains Easing Bias”