The Indian rupee rallied today on hopes that a new government will bring reforms that bolster economic growth and attract more investors to the country. Speculations that China will take measures to sustain its impressive economic expansion also helped the currency. The rupee was rising as investors were hoping that the next month’s elections will bring positive changes to the economic policy of India. It is expected that growth … “Rupee Rallies on Hopes of Reforms in India, Growth in China”
Month: March 2014
UK Retail Sales Lead to Fourth Day of Gains for GBP/USD
The Great Britain pound advanced today, rising for the fourth straight session versus the US dollar, as growth of retail sales exceeded forecasts by more than three times, supporting the view that the nation’s economy is strong enough to continue expansion with tighter monetary policy. Britain’s retail sales grew as much as 1.7 percent in February from the previous month, topping the analysts’ estimate of 0.5 percent. Tomorrow’s reports are expected … “UK Retail Sales Lead to Fourth Day of Gains for GBP/USD”
Euro Dips on QE Talks
The euro dipped today as policy makers continued to talk about possible quantitative easing program that should boost the struggling economy of the European Union. This stance contrasts to the tightening bias of central bankers in the United States and Great Britain. Luis Maria Linde, European Central Bank member, said that policy makers are concerned about the threat of deflation and QE is not impossible. Earlier, Jens Weidmann, Bundesbank President, … “Euro Dips on QE Talks”
Norway’s Interest Rates Remain Stable, Krone Gains
The Norway krone climbed today after the nation’s central bank kept interest rates unchanged and signaled that borrowing costs may start rising next year. The Norges Bank kept its key interest rate at 1.5 percent. The bank said in the accompanying statement: The projections for the Norwegian economy show that growth will pick up somewhat further ahead. As of the future monetary policy, Governor Oeystein Olsen explained: The analyses imply … “Norway’s Interest Rates Remain Stable, Krone Gains”
NZ Dollar Rallies to Multi-Year Records with Help of Trade Balance
The New Zealand dollar rallied today, reaching the highest level since August 2011 versus the US dollar and touching the highest since 2007 versus the Japanese yen. One of the reasons for the rally was the faster-than-expected growth of trade surplus. The New Zealand trade balance demonstrated a surplus of NZ$818 million in February up from NZ$286 million in January. The actual value was noticeably above the forecast reading of NZ$595 million. The kiwi rallied for the fifth … “NZ Dollar Rallies to Multi-Year Records with Help of Trade Balance”
Loonie Clings to Gains Along With Other Commodity Currencies
Commodity currencies are still clinging to gains, even after a bit of a pull back following yesterday’s commodity-fueled run. Canadian dollar is one of those that remains mostly higher against its major counterparts, logging gains against the US dollar. Canadian dollar remains mostly higher today, even though it is slipping against the UK pound. Against the US dollar and euro, though, the loonie retains the upper … “Loonie Clings to Gains Along With Other Commodity Currencies”
USDCAD lower on Mixed US Durable Goods, GDP next
Yesterday at GMT 12:30 PM, US durable goods orders data was published by the US Census Bureau. The report suggested that durable goods orders increased $5.0 billion or 2.2 percent to $229.4 billion in February, exceeding the expectations of 1.0% rise. The outcome was encouraging as this upturn is after two consecutive declines. The setback … “USDCAD lower on Mixed US Durable Goods, GDP next”
Pound Gains with Help of Weale’s Comments
The Great Britain pound rallied yesterday as Monetary Policy Committee member Martin Weale talked about a potential increase of interest rates. The currency kept most of its gains versus the US dollar but retreated against the Japanese yen today. Weale said in an interview to the Reading Post that interest rates should not remain low indefinitely and will rise as the economy normalizes. He explained: While my best guess is any … “Pound Gains with Help of Weale’s Comments”
Rally of Brazilian Real Pauses
The Brazilian real retreated a bit at the current trading session after touching the highest level in fourth months on the previous trading session. The rally has started after Standard & Poor’s cut the nation’s credit rating but changed the outlook from negative to stable, and prices continued to rise till the beginning of this session. On March 24, S&P lowered Brazil’s sovereign rating from BBB to BBB-, the lowest investment grade. The rating agency … “Rally of Brazilian Real Pauses”
EUR/USD: Trading Pending Home Sales
Pending Home Sales is a leading indicator of activity in the US housing sector. A higher reading than that forecast is good for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Thursday at 14:00 GMT. Indicator Background Pending Home Sales is a key leading indicator of the all-important housing … “EUR/USD: Trading Pending Home Sales”