US Advance GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. Thus, publication of Advance GDP could have a significant impact on the movement of EUR/USD. A reading which is better than the market forecast is bullish for the dollar. Here … “EUR/USD January 2014 Trading the US Advance GDP”
Month: January 2014
Aussie Rises with Help of Domestic Fundamentals
The Australian dollar rose today as macroeconomic reports from the South Pacific country were relatively good and the general traders’ sentiment was in favor of growth-related currencies. Today’s monetary policy meeting of the US Federal Reserve remains the major risk for the Aussie. The Conference Board Leading Economic Index for Australia increased 0.2 percent in November. The National Australia Bank Business Confidence index remained at 6 and the report said: Confidence has remained surprisingly … “Aussie Rises with Help of Domestic Fundamentals”
Yen Slides for Third Session as Turkey’s Central Bank Surprises
The Japanese yen fell today for a third straight session as monetary tightening in emerging economies made riskier currencies attractive yet again. Yesterday’s surprise move of Turkey’s central bank added to the confidence of Forex traders. Erdem Basci, Governor of the Central Bank of the Republic of Turkey, was talking about an was talking hike, so it was expected that the central bank would take an action. What was unexpected is the fact … “Yen Slides for Third Session as Turkey’s Central Bank Surprises”
Turkish Lira Jumps on Hopes for Higher Interest Rates
The Turkish lira jumped today as the central bank’s chief hinted that interest rates should be higher to rein rising inflation. It is just another sign that the trend for monetary easing across the world is waning. Erdem Basci, Governor of the Central Bank of the Republic of Turkey, demonstrated a hawkish tone in today’s speech, saying: We won’t refrain from implementing permanent policy tightening if needed. It is … “Turkish Lira Jumps on Hopes for Higher Interest Rates”
Rupee Climbs After Surprising Interest Rate Hike by RBI
The Indian central bank raised interest rates today, a move that was unexpected to most analysts. As a result of such decision, the Indian rupee climbed by the most in more than two months. The Reserve Bank of India announced today that the policy repo rate under the liquidity adjustment facility and the Bank Rate were increased by 25 basis points to 8.0 percent and to 9.0 percent respectively. The major driver for the unexpected decision was a concern … “Rupee Climbs After Surprising Interest Rate Hike by RBI”
UK Pound Gains Ground Even After Data Disappointment
UK pound is gaining ground today, even after a data disappointment. The latest GDP reading from the United Kingdom indicates that growth is moving at a slower rate than expected, and that is having an impact on the sterling. However, even with the data disappointment, the pound is still higher against its major counterparts today. Sterling has pulled back from highs against its major counterparts today, … “UK Pound Gains Ground Even After Data Disappointment”
Dollar Index Rises on Global Uncertainty
Global uncertainty is playing its part in gains for the US dollar index today. Safe haven demand is strong for the greenback, and the currency is gaining ground against some of its major counterparts. The US dollar recovered from a two-month against the Japanese yen earlier in trading, and is now gaining ground. Additionally, the greenback is higher against the euro, after dropping earlier. Right now, the US dollar is a bit … “Dollar Index Rises on Global Uncertainty”
Euro Pulls Back After Earlier Success
Euro is pulling back today after earlier success against its major counterparts. Even though business confidence rose in Germany, there are enough problems elsewhere in the eurozone that the 18-nation currency is being bogged down today. Earlier today, the euro reached a session high of 1.3717 against the US dollar, gaining just after the Ifo report that business confidence in Germany has risen to a level not … “Euro Pulls Back After Earlier Success”
GBP/USD: Trading the first British GDP January 2014
British Preliminary GDP, one of the most important economic releases, is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Here are all the details, … “GBP/USD: Trading the first British GDP January 2014”
CAD Reaches Record Multi-Year Lows During the Week
The Canadian dollar slid this week as the Bank of Canada left its hawkish stance and may even lower interest rates. Wide-spread risk aversion on the Forex market added to the losses of the currency. The loonie was falling ahead of the BoC meeting and continued to decline afterwards. The central bank was much more pessimistic compared to the previous statements and hinted at possibility of additional monetary stimulus. The market sentiment turned to the risk-off by the end of the week, hurting the Canadian … “CAD Reaches Record Multi-Year Lows During the Week”