Loonie is trading mixed today ahead of economic releases expected in the next few days. With the US jobs data due tomorrow, and with a report from the Bank of Canada due on October 23, there is a lot of speculation about what will be revealed at those times. On October 23, the Bank of Canada is expected to release its monetary policy report, as well as announce a rate decision. Right now, many … “Canadian Dollar Trades Mixed Ahead of Economic Releases”
Month: October 2013
Could the Euro be a Haven from the US Dollar?
Euro is slightly lower against the US dollar right now, but that doesn’t mean some sort of strength isn’t there. Indeed, with concerns about what crisis mongering will do to the US economy, some believe that the euro could act as a haven from the US dollar. Euro is a little bit lower today in trading against most of its major counterparts. However, even though the 17-nation … “Could the Euro be a Haven from the US Dollar?”
FXTM announces a Forex Demo Contest
Cyprus based forex broker Forex Time announces its first forex demo contest. The first prize is $3000 credit. FXTM recently won the “Best Newcomer” award by World Finance For all the details about the competition, here is the official press release: Forex trading is about to take on an exciting competitive edge as global broker Forex … “FXTM announces a Forex Demo Contest”
GBP/JPY Rises with Surge of HPI, GBP/USD Falls
The Great Britain pound fell against the US dollar today even though UK house prices surged this month. The currency advanced versus the yen, which was weakened by widening Japan’s trade balance deficit. The Rightmove House Price Index jumped 2.8 percent in October from the previous month and 13.8 percent from a year ago. It was a biggest advance since February. Bank of England policy maker Ben … “GBP/JPY Rises with Surge of HPI, GBP/USD Falls”
US dollar loses ground; What to expect this week? Weekly
Forex: After three weeks of relative calm, the US dollar reported heavy losses against other leading currencies in the past five days. As lawmakers in Washington finally agreed on a budget deal and passed a draft bill to raise the debt ceiling hours before the deadline, which was later signed by President Barack Obama, the EUR/USD … “US dollar loses ground; What to expect this week? Weekly”
Wider Japan’s Trade Deficit Leads to Weaker Yen
The Japanese yen slipped today as the nation’s trade deficit widened last month, giving incentive for the central bank to further ease monetary policy that is already extremely accommodative. Japan’s trade balance posted a deficit of ¥1.09 trillion in September, up from ¥0.82 trillion in August. It was bigger than analysts have expected. The Bank of Japan was refraining from adding monetary stimulus for some time, but the latest … “Wider Japan’s Trade Deficit Leads to Weaker Yen”
End of US Budget Crisis Leads to Weekly Losses of Dollar
The US dollar posted weekly losses against other most-traded currencies as the end to the US budget stalemate resulted in the overwhelmingly positive market sentiment even as the relief is temporary and the crisis was just postponed. The major theme of the week remained the US government shutdown. A deal was not reached over the weekend and traders were becoming nervous. Currencies moved largely sideways amid uncertainty, but surged against the greenback after an agreement … “End of US Budget Crisis Leads to Weekly Losses of Dollar”
Sterling Settles Near Opening Level After Rally
The Great Britain pound was rising today on signs of economic recovery, but retreated to settle near the opening level as Spencer Dale, Executive Director and chief economist of the Bank of England, signaled that reduction of monetary stimulus is not likely next year. Spencer said today that policy makers need to see a “sustained period of strong growth” before tightening monetary policy. Earlier this week, he was also … “Sterling Settles Near Opening Level After Rally”
Euro Hits 1.3700 Level Against Greenback Before Falling Back
Euro is higher today, reaching levels not seen since early in the year. Euro actually broke through the 1.3700 level against the US dollar to reach a session high of 1.3705. Since then the euro has eased back a bit, but it is still showing strength as the US dollar shows weakness. Much of the euro’s strength in recent weeks has come as a result of a growing economy and hopes that the eurozone debt … “Euro Hits 1.3700 Level Against Greenback Before Falling Back”
Canadian Dollar Falls a Bit Even as Inflation Stable
The Canadian dollar fell a bit against its US peer today, but the drop was small and is likely to be nothing more than a minor correction. The currency also continued to decline against the euro and the Japanese yen, but the decline was nowhere near yesterday’s sharp slump. The Canadian Consumer Prices Index rose 1.1 in September (on a year-over-year basis), the same as in August. Monthly inflation accelerated to 0.2 percent after no … “Canadian Dollar Falls a Bit Even as Inflation Stable”