The Indian rupee gained today as India’s trade balance deficit narrowed last month, damping the exchange rate volatility and making the nation’s economy more attractive for investors. India’s exports rose 3.8 percent and imports fell 18 percent in January. As a result, the trade gap shrank from $10.1 billion in December to $9.92 billion last month. Tomorrow’s reports about inflation and industrial production are also expected to be positive. USD/INR … “Narrower Trade Gap Helps Indian Rupee Log Gains”
Month: February 2014
GBP/USD Shows Some Bullish Momentum, Waits for More Input
The Great Britain pound advanced against the US dollar and was almost flat versus the euro and the Japanese yen today. Positive retail sales data helped the currency to overcome the bearishness somewhat, though the current moves are not trend changing. The British Retail Consortium Retail Sales Monitor demonstrated growth by 3.9 percent in January from a year ago. The report was mildly positive, but warned against being too optimistic … “GBP/USD Shows Some Bullish Momentum, Waits for More Input”
Positive Economic Indicators Support Bullish Momentum of Aussie
The Australian dollar rose today as positive macroeconomic data added to the bullish momentum that the currency was demonstrating this month. The Aussie advanced against the majority of its most-traded peers and reached the highest level in four weeks versus the US dollar. The Business Confidence Index of National Australia Bank rose from 6 in December to 8 in January. The report commented that there are “more encouraging results”. The House Price Index rose … “Positive Economic Indicators Support Bullish Momentum of Aussie”
This Week Can Determine Future of Sterling
The Great Britain pound was not performing particularly well this year, trading in a range, but with a downside bias. Last week, the currency started with a loss, but managed to bounce by the weekend, closing flat. This week may be very important in deciding the future of sterling. To assess the future performance of the pound one has to understand the past and the current behavior of the UK currency. Why the currency was rallying, but the rally … “This Week Can Determine Future of Sterling”
Friday news brings weekly earnings for indices
Indices: January proved to be cold not only in terms of weather but for the indices’ performance as well. The first month of 2014 saw the stock markets being in one of their worst shapes; however, February stepped in and witnessed some swift chart movements. The first three days of last week brought new losses to … “Friday news brings weekly earnings for indices”
Hungarian Forint Weakens as Analysts Anticipate Interest Rate Cut
The Hungarian forint declined today on concerns that the nation’s central bank will continue easing monetary policy even though economists warn that such actions may hurt the health of the country’s economy. The Magyar Nemzeti Bank cut its main rate to the record low of 2.85 percent last month, sending inflation to the lowest level in more than 40 years. The central bank also signaled that there is still … “Hungarian Forint Weakens as Analysts Anticipate Interest Rate Cut”
Brazilian Real Suffers from Decline of Commodity Prices
The Brazilian real dropped today as the decline of commodity prices damped demand for currencies of export oriented economies. Brazil’s fiscal problems were also affecting the real’s performance negatively. The Standard & Poorâs GSCI index of 24 commodities fell 0.2 percent today. It is expected that the Brazilian central bank will increase interest rates, but the real has been falling even after the bank had raised rates … “Brazilian Real Suffers from Decline of Commodity Prices”
US Dollar Gets Boost Against High Beta Currencies
US dollar got a bit of a boost earlier today against its high beta counterparts, thanks to concerns about what’s next for the global economy. A lot of data misses last week have many concerned about what could be coming, and that means safe haven demand and a higher greenback. However, US dollar is falling a bit now. Data misses last week from around the world are weighing … “US Dollar Gets Boost Against High Beta Currencies”
Japanese Yen Gains Ground Against Majors on Risk Aversion
Risk aversion is back, and that is weighing on high beta currencies while giving safe haven currencies, like the yen, a boost. Indeed, Japanese yen is higher today as Forex traders and other think about last week’s policy decisions and economic data. Concerns about the US employment situation are weighing, as are down performances for world stocks. Additionally, there are concerns about how well the eurozone … “Japanese Yen Gains Ground Against Majors on Risk Aversion”
Euro Mixed After Week of Policy Decisions
This week, the euro was strong against safer currencies, like the US dollar and the Japanese yen, and also against the Great Britain pound with help of the European Central Bank policy decision, but declined versus the Australian dollar, which was also supported by their central banks. Some market participants have expected that the ECB would ease its monetary policy further. Not only the central bank refrained … “Euro Mixed After Week of Policy Decisions”