Euro is higher against its major counterparts right now, but it could fall later, thanks to a report indicating that the outlook for the eurozone is worse than expected, and that might prompt action from the European Central Bank. Growth projections for the eurozone continue to fall, but that isn’t weighing on the 18-nation currency right now. Euro is mostly higher today. That could change, though. A report … “Euro Higher Today, but Could Fall Later”
Month: November 2014
Canadian Dollar Holds to Gains
Canadian dollar is holding to gains made yesterday, following the announcement of positive employment news. Loonie is managing to hold its own a bit better now that oil prices seem to have stabilized somewhat, and with economic data remaining fairly positive. Loonie is a little bit higher against the US dollar today, maintaining some of its gains from yesterday. Additionally the Canadian dollar is higher than … “Canadian Dollar Holds to Gains”
NZ Dollar Follows Aussie’s Performance
Today’s performance of the New Zealand dollar was similar to that of its Australian counterpart. The currency fell at the start of the current trading session but bounced later and is trading above the opening level right now. The NZ dollar got help from domestic fundamentals. The BusinessNZ seasonally adjusted manufacturing Purchasing Managers’ Index rose from the revised level of 58.5 in September to 59.3 in October. The Food Price Index showed no change … “NZ Dollar Follows Aussie’s Performance”
Aussie Gains on Inflation Expectations, Dismisses Data from China
The Australian dollar dipped against its US counterpart and the Japanese yen at the start of today’s trading session but jumped after the gauge of inflation expectations rose. Melbourne Institute reported that the expected inflation rate rose to 4.1 percent in November from 3.4 percent in October. The data allowed the Aussie to reverse the earlier losses and rally. The currency kept gains even after China’s industrial production disappointed market participants, growing at the 7.7 … “Aussie Gains on Inflation Expectations, Dismisses Data from China”
EUR, GBP: More Downside Ahead – RBS
The pound did some catch up work, joining the euro in its falls. What are the prospects for both currencies? The team at RBS sees more downside for both currencies and they explain here: Here is their view, courtesy of eFXnews: The downward pressure on Eurozone rates, which is likely to intensify if the ECB is able … “EUR, GBP: More Downside Ahead – RBS”
Yen Lower After Mixed Data
The Japanese yen traded a little lower against the US dollar and the euro after the release of mixed data from Japan at the start of the current trading session. The currency is still under pressure from prospects for additional monetary stimulus but at the same time is supported by need for safety among investors. Japan’ machinery orders (excluding volatile ones) rose 2.9 percent in September while analysts have predicted a drop by 1.0 percent. … “Yen Lower After Mixed Data”
EUR Loses to USD & JPY, Gains on GBP
The euro declined today against the US dollar and the Japanese yen as concerns about the struggling European economy continued to hurt the currency. At the same time, the euro managed to gain on the Great Britain pound. Wednesday’s economic data from Europe was mixed. Seasonally adjusted industrial production grew 0.6 percent in October from the previous month (both in the European Union and the eurozone). On the other hand, German wholesale prices fell 0.7 percent last … “EUR Loses to USD & JPY, Gains on GBP”
Pound Sinks as UK Growth Loses Momentum
The Great Britain pound sank today after the Bank of England predicted that economic growth and inflation will decelerate in the near future. UK employment data turned out be worse than analysts have expected, adding to pressure on the sterling. The BoE released quarterly Inflation Report today, and it was not particularly optimistic. The report said: Growth is projected to be a little weaker than in August. It slows slightly … “Pound Sinks as UK Growth Loses Momentum”
Real Falls as Rousseff Wants to Ease Fiscal Rules, Recovers
The Brazilian real gained today after the earlier decline. The currency fell earlier as President Dilma Rousseff wanted to ease fiscal rules. Such measure will reduce the budget deficit that reached the highest level in more than a decade. Rousseff submitted a bill, which will allow to discount bigger amount from this year’s primary budget. If Congress passes the legislation, the government will be able to reach the budget target … “Real Falls as Rousseff Wants to Ease Fiscal Rules, Recovers”
USD/JPY: Trading the US jobless claims Nov 2014
US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bullish for the Japanese yen. Update: US jobless claims rise to 290K Here are all the details, and 5 … “USD/JPY: Trading the US jobless claims Nov 2014”