The Canadian dollar rose today, rallying for the second session against the US dollar and the euro, as the nation’s economy continued to grow in November. At the same time, the currency retreated versus the Japanese yen following yesterday’s advance. Canadian gross domestic product expanded 0.2 percent in November after growing 0.3 percent in October. Analysts’ forecasts promised exactly such reading. It was the fifth consecutive month of growth. The loonie experienced the worst January … “CAD Gains vs. USD & EUR, Ends Month Weak”
Month: January 2014
US Dollar Continues to Strengthen
The US dollar continues to strengthen today, in the fact of global uncertainty, and as the Federal Reserve continues tapering efforts. There is a lot helping the greenback right now, and it is little surprise that the dollar index is gaining ground today. Once again, data from around the world shows that the US economy is doing comparatively well. Chinese data has been disappointing, and, once again, the eurozone proves … “US Dollar Continues to Strengthen”
Euro Struggles as Economy Remains Static
Euro is struggling today as the latest economic data indicates that the situation is still mostly static in the eurozone. The 18-nation currency region continues to fight with unemployment, and the inflation level remains too low for comfort. The latest economic reports from Eurostat indicate that the eurozone economy remains mired in the doldrums. Unemployment remains at 12 per cent — where it’s been since October of 2013. On top of that, the latest inflation … “Euro Struggles as Economy Remains Static”
Currency Union – the best arrangement for the UK?
Scotland votes on the question of independence in September, and a Yes vote could have a significant impact on currency trading. BOE governor Mark Carney commented warned about the currency union decisions. What is the best solution? As the debate heats up towards the referendum, Alastair Cotton, head of corporate dealing at Currencies Direct, provides his … “Currency Union – the best arrangement for the UK?”
iTrader Expo – an online forex event organized by
An online expo for forex traders, brokers and everybody in the industry will be held on March 26th and is organized by ConversionPros, Forex Magnates and FXStreet. This is a 24 hour expo, with events taking place around the clock. For more details, here is the official press release: iTrader Expo is an online expo … “iTrader Expo – an online forex event organized by”
Sterling Drops, Ignores Improvement of Consumer Confidence
The Great Britain pound dropped today as the mood of Forex traders turned sour and they preferred to stick to safer currencies. Even improving confidence of Britons was not able to help the sterling. The GfK UK Consumer Confidence Index increased six points to -7 in January. It is the highest level since September 2007. The favorable data did not benefit the pound as traders were avoiding currencies that they perceived to be … “Sterling Drops, Ignores Improvement of Consumer Confidence”
Increasing Trade Surplus Does Not Help NZ Dollar
The New Zealand dollar dropped today even as the nation’s trade surplus widened last month. The increase was smaller than analysts have anticipated and the general market sentiment was less positive than it had been previously. New Zealand trade balance posted a surplus of NZ$523 million in December. It was far bigger than November’s NZ$183 million, but below traders’ expectations of NZ$550 million. Additionally, the investors’ … “Increasing Trade Surplus Does Not Help NZ Dollar”
Yen Gains as Data Suggests No More Stimulus Needed
The Japanese yen advanced as a set of good macroeconomic report was released from Japan today, suggesting that policy makers do not need to implement additional monetary stimulus and may even consider an exit from the current excessively accommodative policy. The headline seasonally adjusted Markit/JMMA Japan Manufacturing Purchasing Managersâ Index advanced from 55.2 in December to 56.6 in January. The report said: This was the highest reading posted by the PMI … “Yen Gains as Data Suggests No More Stimulus Needed”
Dollar Demonstrates Strength with Help of QE Tapering
The US dollar jumped today as traders digest the news about quantitative easing tapering by the Federal Reserve. Excessive monetary stimulus was detrimental for the dollar and its reduction helped the currency to gain. The Fed announced yesterday that it is going to reduce the size of its monthly asset purchases by $10 billion to $65 billion per month. Such move was not completely unexpected, but some market participants had though … “Dollar Demonstrates Strength with Help of QE Tapering”
Mexican Peso Gains as US Economy Grows
The Mexican peso advanced today as economic growth in the United States improved prospects for Mexico’s exports to its neighbor and the biggest trading partner. US gross domestic product rose 3.2 percent in the fourth quarter of 2013. It was slower than predicted 3.3 percent and third quarter’s 4.1 percent, but growth was still relatively strong. This helped the peso, which also rose with the aid of the positive general market … “Mexican Peso Gains as US Economy Grows”