The Chilean peso rallied today as nation’s consumer prices grew with faster pace, suggesting that there is no immediate need for the central bank to stimulate economic growth with additional monetary accommodation. Chile’s inflation climbed from 3.5 percent in March to 4.3 percent in April, exceeding the central bank’s target of 2 to 4 percent for the first time since February 2012. The Central Bank of Chile kept interest rates … “Accelerating Inflation Makes Chilean Peso Biggest Gainer”
Month: May 2014
Macroeconomic Indicators Helpful for Loonie
The Canadian dollar climbed today as the positive housing data increased the appeal of the currency and the optimistic outlook for tomorrow’s employment report made the loonie even more attractive for Forex traders. Canadian housing starts rose to 194,809 units in April from 156,592 in March. The actual figure is above market expectations. Analysts predict that tomorrow’s employment data will show an increase by 12,800. Oil prices were falling today, putting pressure … “Macroeconomic Indicators Helpful for Loonie”
Aussie Maintains Bullishness with Help from Employment Data
The Australian dollar maintained its bullishness, rallying today following yesterday small drop, as employment data was very good, supporting the view that the nation’s economy can keep expanding without additional measures from the central bank. Australian employers added 14,200 jobs in April. This value is below the upwardly revised March reading of 21.9 but above the analysts’ projections of growth by 7,500. The unemployment rate was steady … “Aussie Maintains Bullishness with Help from Employment Data”
AUDUSD: Resumes Strength, Eyes Key Resistance
AUDUSD: Having resumed its bullish offensive following a one-day pullback, AUDUSD looks to strengthen further. On the upside, resistance resides at the 0.9400 level where a violation will set the stage for a run at the 0.9460 level and then the 0.9500 level. A break will aim at the 0.9550 level and then the 0.9600 … “AUDUSD: Resumes Strength, Eyes Key Resistance”
Rand Reaches This Year’s Record, Being Top Performer
The South African rand climbed today, rising to the highest level this year, on speculations that the current ruling political party will remain in power, while positive economic news from China increased attractiveness of riskier currencies in general. The rand is the best performer against currencies of emerging economies. The ruling African National Congress is expected to extend its 20-year dominance in the National Assembly, giving hope for stability in the country. China’s … “Rand Reaches This Year’s Record, Being Top Performer”
Dollar Index Gains Ground After Earlier Choppiness
Greenback’s performance was choppy early, looking for direction following comments from the Federal Reserve, as well as developments in Ukraine. There is a lot going on right now, and some Forex traders are looking for the stability the US dollar offers. Greenback is still mixed in trading against its major counterparts, but DXY is heading higher. The dollar index is gaining ground today as Forex traders look for a bit of safety. … “Dollar Index Gains Ground After Earlier Choppiness”
EUR/USD Surges After ECB, Struggles to Keep Gains
The euro climbed today, reaching the highest rate since October 2011 against the US dollar, after the European Central Bank made no effort to add monetary stimulus during today’s policy meeting. The currency failed to keep gains after ECB President Mario Draghi voiced concern about the exchange rate and signaled about a possibility of additional stimulus in the future. The ECB left its main interest rate at 0.25 percent today. … “EUR/USD Surges After ECB, Struggles to Keep Gains”
EUR/USD: Trading the JOLTS Job Openings
JOLTS Job Openings measures the change in the number of employment openings last month, excluding the farm industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 14:00 GMT. Indicator Background Job creation is one of … “EUR/USD: Trading the JOLTS Job Openings”
ECB Preview: a small step to weaken the euro? 4
The European Central Bank is facing a big dilemma: should it act or should it wait? Euro-zone inflation is low, but off the bottom. The exchange rate is high and very uncomfortable for exports and for inflation but it also reflects trust in the euro-zone. There is a lot of uncertainty towards the big event that … “ECB Preview: a small step to weaken the euro? 4”
Koruna Weakens as Monetary Accommodation Persists
The Czech koruna fell today after the central bank kept interest rates unchanged and signaled that it will not drop its accommodative policy anytime soon. The bank also kept the cap on the currency. The Czech National Bank maintained interest rates the same, keeping the benchmark two-week repo rate at 0.05 percent. The central bank also kept the cap on the exchange rate that was introduced last year. Governor Miroslav … “Koruna Weakens as Monetary Accommodation Persists”