The Malaysian ringgit, as well as most other currencies, continued to gain against the US dollar at today’s trading session after yesterday’s policy minutes from the Federal Reserve hurt the appeal of the greenback. The Fed minutes damped bets on an early interest rate hike from the US central bank, driving the dollar lower. This alleviated pressure on riskier currencies of emerging markets, including the ringgit, allowing them to rally. It is not clear … “Ringgit Profits from Fed Minutes”
Month: October 2014
UK Pound Gains Ground Today
After struggling recently, the UK pound is gaining a little ground today. Recently released data is helping the sterling, especially as the economic divergence between the United Kingdom and the eurozone remains pronounced. After seeing some unexpected weakness earlier, the UK pound is turning around and making some gains against some of its major counterparts. The pound is seeing success against the dollar and the euro today, even though it … “UK Pound Gains Ground Today”
Loonie Struggles in Currency Trading
Canadian dollar is struggling a bit in currency trading on FX market after some gains earlier. Loonie is down against European currencies, and is seesawing between gains and losses when it comes to the US dollar. Loonie got a bit of a boost yesterday as the situation with the US dollar looked a little more uncertain than originally expected. The minutes from the latest FOMC meeting show that some members are … “Loonie Struggles in Currency Trading”
EUR/USD: Trading the US Unemployment Claims Oct 2014
US Unemployment Claims is released weekly, and measures the number of people filing for unemployment for the first time. It is considered an important measure of the health and direction of the US economy. A reading which is higher than the market forecast is bullish for the euro. Update: US jobless claims at 287K – USD … “EUR/USD: Trading the US Unemployment Claims Oct 2014”
Sterling Joins Rally After Fed Drives Dollar Lower
The Great Britain pound was falling earlier today as economic data from the United Kingdom was mixed, but the sterling joined the rally together with other currencies after the minutes of the Federal Reserve policy meeting led to the drop of the US dollar. The BRC-Nielsen Shop Price Index fell 1.8 percent in September from a year ago after declining 1.6 percent in August. Meanwhile, the Halifax House Price Index rose 0.6 … “Sterling Joins Rally After Fed Drives Dollar Lower”
Dollar Retreats After Fed Minutes
The US dollar, which were rising earlier today, declined after the Federal Reserve released the minutes of its latest policy meeting, talking about the statement that interest rates will remain low for a “considerable time” and voicing concern about the strength of the greenback. The dollar demonstrated gains earlier during the current trading session but turned down after the Federal Open Market Committee released the minutes of its September meeting. The FOMC … “Dollar Retreats After Fed Minutes”
Euro Struggles Against Fundamentals to Rally
While the euro was rising earlier today, the shared 18-nation currency has a hard time keeping its gains and was falling against the US dollar, though it trades near the opening level as of now. It is not surprising to see softness of the euro considering that fundamentals were playing against the currency of the eurozone. There were plenty of reasons for the euro to fall. The major one was yesterday’s growth outlook from … “Euro Struggles Against Fundamentals to Rally”
EUR/USD: Eyes Further Upside On Recovery
EURUSD: With EUR remaining biased to the upside on recovery, further strength is envisaged. Support lies at the 1.2570 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2450 level. If this continues, expect further downside to occur towards the 1.2400 level. On … “EUR/USD: Eyes Further Upside On Recovery”
US Dollar Sees Broad Gains After Earlier Selloff
US dollar is in the midst of a recovery after yesterday’s selloff. Right now, greenback appears to be correcting by logging gains following excessive selling. However, even with the current gains, a little caution is in order as we wait for the release of the minutes from the latest FOMC meeting, since many of the dollar’s potential gains might already be priced in. Yesterday, there was a bit of a selloff in the US dollar. Today, though, … “US Dollar Sees Broad Gains After Earlier Selloff”
Yen Lower Despite Risk-Averse Environment
The Japanese yen declined today despite the prevailing risk-aversion on the Forex market after the International Monetary Fund lowered its growth forecast for the world economy. The yen was rising at the start of the current trading session as the IMF made small negative revisions for both this year’s and the next year’s growth. Yet the Japanese currency lost its gains and is now trading below the opening level. One of the possible reasons for such behavior is … “Yen Lower Despite Risk-Averse Environment”