US dollar is mostly higher today as the greenback is identified as a likely candidate for strength in the coming months. Recent developments in the eurozone are likely to help the greenback, and positive economic news is spurring speculation — again — that the Federal Reserve will have to make a move to cap inflation soon. On Friday, the nonfarm payrolls data for the United States indicated more jobs to the economy. Employment has officially returned to its pre-recession peak, … “Greenback Mostly Higher Today”
Month: June 2014
Polish Zloty Falls, While Officials Expect Appreciation
The zloty fell today, but Polish officials are concerned that the currency may yet strengthen due to the extremely accommodative policy of the European Central Bank, threatening the nation’s economic wellbeing. National Bank of Poland Governor Marek Belka said that the last week’s policy decision of the ECB “has a potential to strengthen the zloty”, and this is “not good as it could slow down our exports, slow down our economy”. … “Polish Zloty Falls, While Officials Expect Appreciation”
Yen Struggles to Gain with Help of Positively Revised GDP
The Japanese yen attempted to erase its initial drop and rally on the current trading session with help of the positively revised data about nation’s economic growth. Gains were limited, though, as Japan’s current account surplus was smaller than analysts have predicted. Japan’s gross domestic product grew 1.6 percent in the first quarter of this year according to the revised estimate, compared to the preliminary estimate of 1.5 percent and economists’ prediction … “Yen Struggles to Gain with Help of Positively Revised GDP”
ECB Acts, Euro Unfazed, Ending Week Resilient
This week had quite a few important events that have affected the Forex market. The most important of them were the meetings of various central bank and US non-farm payrolls. There were reasons to believe that the euro would fall over the week, but surprisingly enough the currency remained rather resilient. Last week was not bad for the euro, and this week was not much different. The shared 18-nation currency … “ECB Acts, Euro Unfazed, Ending Week Resilient”
Canadian Employment Data Leaves CAD Directionless
The Canadian dollar ended the session without strong moves in either direction as today’s employment report sent confusing signals to the market, giving no edge either to bulls or to bears. Canadian employment grew by 25,800 jobs in May after falling by 28,900 in the preceding month. This reading was in line with expectations of most market participants. The unemployment rate ticked up by 0.1 percentage point to 7.0 percent. And this was a surprise as specialists … “Canadian Employment Data Leaves CAD Directionless”
Euro Slips vs. Dollar After NFP, Remains Firm vs. Other Majors
The euro dropped today against the US dollar after the release of non-farm payrolls but remained firm against other majors, including the Great Britain pound and the Japanese yen. It is surprising to see such resilience considering yesterday’s policy announcement from the European Central Bank. Initially, the euro tumbled after the ECB announced additional stimulus, but the currency bounced later and ended yesterday’s session with a big gain versus … “Euro Slips vs. Dollar After NFP, Remains Firm vs. Other Majors”
This week in the markets: ECB’s monetary policy takes
It was a slow and steady start to the week for the FX markets. After weeks of waiting, investors’ eyes were eagerly on Thursday’s ECB rate decision and press conference to see what measures ECB chief Mario Draghi would come up with in order to fight the threat of deflation from the eurozone. Monday saw Germany’s m/m … “This week in the markets: ECB’s monetary policy takes”
US Dollar Gains Ground, But Earlier Gains Have Been Pared
US dollar is mostly higher today, but the currency’s earlier gains have been pared a bit following the latest US jobs numbers. Since the numbers matched expectations, many feel that the Federal Reserve will stay on course, and not speed up its efforts to end monetary policy easing. The latest monthly jobs report, for May, shows that the US economy added 217,000 jobs and that the unemployment rate … “US Dollar Gains Ground, But Earlier Gains Have Been Pared”
Canadian Dollar Firm, Withstanding Negative Fundamentals
The Canadian dollar was firm today despite yesterday’s negative data. An employment report will be released in Canada today and it is expected to be supportive to the nation’s currency. Building permits demonstrated an increase of 1.1 percent in April, which was far below the expected rate of growth of 4.1 percent. The seasonally adjusted Ivey Purchasing Managers’ Index tumbled from 54.1 in April to 48.2 in May, frustrating analysts who have … “Canadian Dollar Firm, Withstanding Negative Fundamentals”
Yuan Profits from Dollar’s Weakness as PBoC Boosts Daily Fixing
The Chinese yuan advanced today as the nation’s central bank boosted its reference rate after the US dollar demonstrated a big drop despite the earlier rally. The Peopleâs Bank of China raised its daily fixing by 0.14 percent to 6.1623 per dollar, the biggest increase since January 10. The central bank allowed the yuan to appreciate as the dollar sank yesterday even though initially it demonstrated a strong rally after the European Central … “Yuan Profits from Dollar’s Weakness as PBoC Boosts Daily Fixing”