The US dollar index is higher today, thanks to the greenback’s performance against most of its counterparts. The US dollar is gaining ground against a number of its counterparts as economic data from other regions comes in, and as the ECB announces that it will extend its dollar liquidity program. The US Department of Labor released its latest CPI data, showing that that May CPI rose 0.4 per … “Greenback Gains Against Most Other Currencies”
Month: June 2014
Vietnamese Dong Falls, Officials Believe Exchange Rate Will Be Stable
The Vietnamese dong fell today, but central bank officials are certain that the currency’s exchange rate should remain stable over the longer term. One of the reasons for such outlook is the limited Vietnam’s exposure to the Chinese banking sector. Vietnamese policy makers argued that Chinese banks have no significant presence in the country, meaning that the potential economic slowdown in China will have limited impact on Vietnam’s economy. … “Vietnamese Dong Falls, Officials Believe Exchange Rate Will Be Stable”
Euro Struggles After Wage Data
The latest wage data for the eurozone has been released, and it looks as though wage growth slowed in the first quarter of 2014. This news is disappointing to many, since it indicates that the wage situation in the eurozone isn’t likely to improve anytime soon. It also shows that things aren’t picking up in terms of an economic recovery. A report from Eurostat indicates that worker pay rose 1.5 per cent … “Euro Struggles After Wage Data”
Will Yellen take a page from Carney’s book?
Back in March, Fed Chair Janet Yellen already said that the first US rate hike will come around 6 months after QE ends, but her colleagues and her later made it clear that it will take a long long time. Her comment to that question was later considered a slip in her first press conference. Update: Taper 5: … “Will Yellen take a page from Carney’s book?”
EURJPY: Sees Corrective Recovery
EURJPY- With the cross remaining on upside offensive, further strength is likely. In such case, additional upside will aim at the 139.00 level followed by the 139.50 level where a breach will aim at the 139.95/8 level. Further out, resistance resides at the 140.94. We may see a breather here but if that fails, further … “EURJPY: Sees Corrective Recovery”
GBP Falls vs. USD on Disappointing CPI, Holds Ground vs. JPY
The Great Britain pound fell against the US dollar today as UK inflation slowed last month, missing analysts’ expectations. The currency managed to trim its losses and was able to gain on the Japanese yen. Great Britain’s Consumer Price Index was up 1.5 percent in May from a year ago compared to the growth of 1.8 percent in April. Specialists expected a minimal drop to 1.7 percent. Most other reports from the United … “GBP Falls vs. USD on Disappointing CPI, Holds Ground vs. JPY”
Fed unlikely to rock the boat, Carney could have
Janet Yellen is not expected to repeat anything like the “6 months” comment made back March and leave markets guessing about the timing of the first rate hike, says Simon Smith of FxPro. Carney explicit comment about a hike could have preempted the meeting minutes, that could show that one member already voted for a … “Fed unlikely to rock the boat, Carney could have”
Australian Dollar Weakens as RBA Promises to Keep Interest Rates Low
The Australian dollar dipped today as the Reserve Bank of Australia confirmed in its policy meeting minutes that it is going to keep interest rates at the current record low level for a prolonged time. The RBA released the minutes of its June policy meeting today. Analysts considered the minutes to be a bit more dovish than was expected. The central bank reiterated its concerns about the relatively high value of the Australian currency: Members … “Australian Dollar Weakens as RBA Promises to Keep Interest Rates Low”
The Rest of 2014. What’s Likely And What Don’t We Know?
So, six months into the year, how are you doing? Yesterday I closed the last of my FTSE short positions and once again await an opportunity to sell this market short. I have also now begun selling the S&P500 short here too and sold some SPX at 1931. The trend is clearly up so I … “The Rest of 2014. What’s Likely And What Don’t We Know?”
Pound Backs Off After Reaching Multi-Year Highs
The Great Britain pound fell against the US dollar and rose versus the Japanese yen at the current trading session, reversing its Monday’s movement. The sterling also continued to fall versus the euro. This does not necessarily mean that the UK currency lost its bullish momentum as it reached multi-year highs at the previous trading session. The strength of the pound is the major theme on the Forex market right now amid otherwise quiet … “Pound Backs Off After Reaching Multi-Year Highs”