Euro Strengthens as ECB Leaves Rates the Same

Euro is strengthening right now, gaining against its major counterparts on the latest ECB decision to stay the current course. There had been speculation that negative deposit rates were possible, but such an option has been put off for now, and the 17-nation currency is heading higher. Euro is getting a boost today as Forex traders breathe a sigh of relief that the latest possibility of easing — negative deposit … “Euro Strengthens as ECB Leaves Rates the Same”

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Pound Weaker After BoE Meeting

The Great Britain pound declined today after the Bank of England kept the size of asset purchases unchanged and its main interest rate at the record low level. The BoE decided to keep the benchmark interest rate at 0.5 percent and the asset-buying program at £375 billion. No big surprise here. BoE meetings are not usually accompanied by extensive statement, therefore traders have to wait for meeting’s minutes to understand what policy makers were … “Pound Weaker After BoE Meeting”

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Aussie Dips as Trade Gap Exceeds Expectations

The Australian dollar edged down today, following yesterday’s slump, after a report showed that the nation’s trade balance deficit was much bigger than analysts have anticipated. Losses were relatively small. The Australian trade gap was at A$529 million in October, up from A$271 million in September. The median forecast promised an increase to A$380 million. The Aussie fell after the report, but not far, perhaps because yesterday’s … “Aussie Dips as Trade Gap Exceeds Expectations”

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Falling Services PMI Makes Sterling Weaker

The Great Britain pound was relatively flat against the US dollar and the euro today after yesterday’s drop, but continued to fall against the Japanese yen. The losses were caused by the decline of the services’ index. The Markit/CIPS UK Services Purchasing Managers’ Index adjusted for seasonal factors fell to 60.0 in November, the five-month low, from October’s multi-year high of 62.5. Analysts expected a decrease to just 62.1. The gauge was still at a historically high … “Falling Services PMI Makes Sterling Weaker”

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Traders Buy Yen amid Fed Tapering Concerns

The Japanese yen was rising today, getting help from speculations that the US Federal Reserve will reduce the scale of its asset purchases as early as this month. The currency has started to lose its gains, but stays above the opening level for now. The Federal Reserve will announce its policy decision on December 18. Traders speculate that the US central bank may reduce its asset-purchasing program, which … “Traders Buy Yen amid Fed Tapering Concerns”

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Bank of Canada Keeps Rates Steady; Loonie Falls

The Canadian dollar is falling against its major counterparts today as the Bank of Canada keeps rates steady. Citing concerns about the Canadian economy, the BOC is keeping rates low, which has the effect of weakening the loonie. The Bank of Canada announced that it would keep its benchmark rate at 1 per cent, the level it’s been at for three years. Prior to the installment of Stephen Poloz as the new Governor of the BOC, there … “Bank of Canada Keeps Rates Steady; Loonie Falls”

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This Friday’s NFP is important, but it’s not the most

Friday is US Non Farm Payrolls – arguably the most important data release in the calendar. Every month each number takes on a greater significance with the US Federal Reserve looking to start reining in its quantitative easing programme probably from March 2014. The closer that date looms the more significant each number becomes. Indeed, … “This Friday’s NFP is important, but it’s not the most”

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US Dollar Gets Boost from ADP Report

US dollar is headed higher today, gaining ground as the latest ADP employment is released. With this positive news, there is an expectation that the Fed really will start tapering its asset purchases soon. Speculation that the Federal Reserve will start tapering asset purchases is on the rise again, thanks in large part to the fact that the latest private payroll report shows better than expected … “US Dollar Gets Boost from ADP Report”

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Polish Zloty Weakens as NBP Keeps Interest Rates Record Low

The Polish zloty declined today after the nation’s central bank kept interest rates unchanged at the record low level for the fifth consecutive meeting. The National Bank of Poland left interest rates unchanged at today’s meeting, including the reference rate, which stayed at 2.5 percent. Such decision was widely expected by analysts. There were speculations that cuts of borrowing costs in other countries may force Polish policy makers to do … “Polish Zloty Weakens as NBP Keeps Interest Rates Record Low”

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