The report about Canada’s economic growth was mixed and did not provide a clear picture of the nation’s economic health. As a result, the Canadian dollar rose against its US peer, fell versus the euro and was little changed against the Japanese yen. Canada’s gross domestic product expanded 2.9 percent in the fourth quarter of 2013 from a year ago. The growth was faster than the third quarter’s 2.7 percent. Quarter-on-quarter, the pace … “CAD Mixed After Confusing GDP Report”
Month: February 2014
Yuan Falls Against the Dollar by the Most in 20 Years
The Chinese yuan is sliding again, continuing the two-week drop against the US dollar. It appears that Chinese officials are intervening, bringing the yuan’s value down after letting gain slowly but steadily against the greenback for years. With economic news in China pointing to slower growth, it looks as though Chinese officials are ready to step in and remind everyone in the world who controls the value of the yuan (also called … “Yuan Falls Against the Dollar by the Most in 20 Years”
Euro Gains, Encouraged as Draghi Sticks to the Script
Euro is logging gains today, after yesterday’s disappointing losses. Euro is finding support as ECB president Mario Draghi continues to hold the line on policy, leading many to believe that more easing won’t be coming at the next ECB meeting. Today, the European Commission released number that show continued low inflation, as well as relatively high unemployment. However, concerns that the European Central Bank will take … “Euro Gains, Encouraged as Draghi Sticks to the Script”
This week in the markets: Eurozone CPI beats estimates
By Jake Trask at UKForex, an international money transfer service. Monday saw a relatively quiet start to the week, with Eurozone data releases printing better than expected. First up, we had the final CPI reading for January which improved on the flash estimate of 0.7%, coming in at 0.8%. The monthly German IFO Business Climate also beat … “This week in the markets: Eurozone CPI beats estimates”
Polish Growth Accelerates, Increases Attractiveness of Zloty
The Polish zloty gained today as nation’s economic growth is accelerating, demonstrating that the economy is on track to recovery. The data suggests that an interest rate hike may happen very soon, adding to the attractiveness of the currency. Poland’s Central Statistical Office reported that gross domestic product rose 2.2 percent in the fourth quarter of 2013 from a year ago after increasing 1.8 percent in the third quarter. The economy expanded 0.8 … “Polish Growth Accelerates, Increases Attractiveness of Zloty”
Fundamentals Do Not Favor Aussie
The Australian dollar slipped today, falling against the Japanese yen, as most fundamentals were not in favor of risk-related currencies. The Aussie was almost flat against its US counterpart, which was hurt by poor economic reports from the United States. There are plenty of reasons for riskier currencies, and the Australian one in particular, to fall. The general risk negative sentiment of the Forex market is one of such reasons, while prospects for continuing … “Fundamentals Do Not Favor Aussie”
Japan wins another battle over deflation but BOJ action
Inflation figures from Japan showed a general picture of an advance: prices, which already began rising, have accelerated and sometimes came above expectations. The figures are for January on the national level and for February in the capital Tokyo. These rises are not totally unexpected, given the fact that the sales tax is going up … “Japan wins another battle over deflation but BOJ action”
MahiFX goes institutional: launches MFX Compass
New Zealand based forex broker MahiFX is expanding its product and is now offering a full institutional solution called MFX Compass. MahiFX recently expanded its platform offer and launched MT4. For more about MFX Compass, here is the official press release: LONDON and CHRISTCHURCH, 27 February 2014 – MahiFX Ltd, the foreign exchange (FX) technology … “MahiFX goes institutional: launches MFX Compass”
Yen Rallies vs. Dollar as Tensions in Ukraine Escalate
The Japanese yen rallied against the US dollar yesterday and continue to gain today as the political turmoil in Ukraine feeds the risk-negative mood on financial markets. The currency also rallied against the euro and the Great Britain pound. The political tension intensified as the separatists in Crimea were speaking that the region should leave Ukraine and perhaps join Russia. Russian military forces started exercises in the western regions of the country. The chances of war are perceived to be slim … “Yen Rallies vs. Dollar as Tensions in Ukraine Escalate”
Domestic Fundamentals Hurt Dollar Yet Again
The US dollar fell today as economic data from the United States was negative yet again. The currency dropped despite the risk-aversion sentiment on the Forex market and signs that the Federal Reserve will continue to reduce monetary stimulus. Initial jobless claims unexpectedly rose from 334,000 to 348,000 last week. Most analysts thought that unemployment claims would stay unchanged. The data followed yesterday’s positive employment report that … “Domestic Fundamentals Hurt Dollar Yet Again”