The Indian rupee declined today on concerns that the planned interest rate hike from the Federal Reserve will deter investors from emerging markets. Yet the currency was able to recover as of now, suggesting that volatility on the market is rising after the Fed meeting and ahead of the holiday period. The outlook for monetary tightening from the Fed made the US dollar stronger. This, in turn, will likely reduce capital inflows from overseas … “Indian Rupee Weakens on Fed Tightening Expectations, Recovers”
Month: December 2014
Adam Button wins FXStreet’s Person of the Year
And it’s certainly justified. The editor of Forex Live, which oversaw a takeover of the site by its forex analysts earlier this year, is FXStreet’s person of the year. I am very happy with this choice and I agree he has done a great job. There aren’t too many independent forex websites who provide high … “Adam Button wins FXStreet’s Person of the Year”
Is the New Zealand Dollar ready for a rise?
The answer might be found in the COT Report. The Commitment of Traders Report (COT Report) measures the net long and short positions of the market players. These players are the Commercials, Non-Commercials and Retail traders. A net position extreme reading suggests that a trend reversal is in the play. Before getting too excited about … “Is the New Zealand Dollar ready for a rise?”
EUR/USD Downside Set To Extend Into Early 2015 –
The EUR/USD just set a new 2 year low and this may not be the end. It may well extend the drop into early 2015, says the team at Barclays. Here is the reasoning, targets and the chart: Here is their view, courtesy of eFXnews: Plenty of macro and technical factors are currently in play … “EUR/USD Downside Set To Extend Into Early 2015 –”
Dollar Ends Last FOMC Week in 2014 on Strong Note
This week was important for the Forex market and the US dollar in particular. The Federal Open Market Committee held its last policy meeting in 2014, and it could make or break the future for the US currency. As it turned out, the event was beneficial for the greenback. The dollar did not rally after the FOMC gathering immediately. On the contrary, the greenback dropped initially as traders considered the policy statement less hawkish than was expected. Yet … “Dollar Ends Last FOMC Week in 2014 on Strong Note”
Euro Falls Despite Positive Data from Germany
The euro dipped on Friday, falling to a new multi-year low versus the US dollar, even though economic data from Germany was fairly positive. As the majority of most-traded currencies, the euro gained on the yen after the Bank of Japan maintained its exceptional monetary stimulus. The GfK German Consumer Climate rose from 8.7 to 9.0 in December. The report said: The development of consumer sentiment in Germany has been very robust in December, with the consumer … “Euro Falls Despite Positive Data from Germany”
Canadian Dollar Drops as CPI Declines, Still Stronger than Yen
The Canadian dollar fell today as Canada’s consumer prices declined more than was expected. Still, the currency was able to outperform the euro and the Japanese yen. Canada’s Consumer Price Index fell 0.4 percent in November from the previous month (not seasonally adjusted) while experts predicted just a 0.2 percent decline. The core CPI declined 0.2 percent while forecasters predicted no drop. Retails sales showed no … “Canadian Dollar Drops as CPI Declines, Still Stronger than Yen”
Polish Zloty Falls on Concerns about Russia’s Troubles
The Polish zloty fell today on concerns that economic troubles in Russia may spread to other Eastern European countries. Yet analysts argue that the future does not necessarily looks bleak for the currency. While sanctions implemented by the United States and the European Union are hurting Russia’s economy, they also may have adverse impact on economies of European counties, especially in the Eastern parts of the region. Such worries drove the zloty down, … “Polish Zloty Falls on Concerns about Russia’s Troubles”
Yen Drops as BoJ Keeps Stimulus Unchanged
The Japanese yen dropped after the Bank of Japan decided to keep its unprecedented monetary stimulus at today’s policy meeting. The currency trimmed its losses later but still trades below the opening level. The Japanese central bank announced today: The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace of about 80 trillion yen. The yen fell after the announcement, driven … “Yen Drops as BoJ Keeps Stimulus Unchanged”
UK Pound Loses Ground After Confidence Report
After a good day yesterday, the UK pound is losing ground today. The latest consumer confidence report has been released and morale is down, brining the sterling down with it. Yesterday was a good day for the UK pound, with the latest retail sales data, including a robust Black Friday, driving gains. Positive data sent the sterling higher against the euro and the dollar. All of that is changed today, … “UK Pound Loses Ground After Confidence Report”