The Canadian dollar had been falling against its US counterpart and the euro during the most part of the Thursday’s trading session. Yet as of now, the currency has managed to erase losses versus the greenback and to pare the decline against the currency of the eurozone. On top of that, the loonie rallied versus the Japanese yen. The most likely reason for the improving performance is the rally of crude oil prices. Futures for crude gained 0.82 percent in New York as US … “Canadian Dollar Firms by End of Thursday’s Trading”
Month: May 2015
Australian Data Sinks to Lowest Since April as Data Disappoints
The Australian dollar tumbled to the lowest level in a month and a half against its US peer and sank versus the euro today as economic news from the South Pacific country was much worse than the market has counted on. Australian capital expenditure shrank by 4.4 percent in the first quarter of this year after falling 1.7 percent during the previous three months. The actual decrease was almost two times bigger than … “Australian Data Sinks to Lowest Since April as Data Disappoints”
UK GDP Growth Gets No Revision, Pound Drops
The Great Britain pound dropped against the US dollar and almost erased its gains against the Japanese yen today even though economic data from the United Kingdom was good for the most part. The major reason for the currency drop was the second estimate of UK gross domestic product that was unchanged compared to the first one, leaving growth at the 0.3 percent level. Most market analysts have hoped for at least a small … “UK GDP Growth Gets No Revision, Pound Drops”
US Dollar Retreats From Recent Highs
US dollar is retreating from recent highs today, especially against the euro. The dollar index is lower as a result. However, expectations for long-term dollar strength aren’t over yet. Greenback appears to be in consolidation mode to some degree as it retreats from recent highs. Dollar is lower against the euro, even though it is higher than the pound and the yen today. This drop against the euro is … “US Dollar Retreats From Recent Highs”
Euro Slide Halts as Greece Claims an Agreement
Late yesterday, Greek officials announced that they were drafting an agreement for their creditors. The news halted the euro’s slide, as did an interest in the 19-nation currency by holidaymakers and others. Euro has seen its most recent slide come to a stop, and is even a little higher today, thanks to yesterday’s developments. Greece claims that it is working on a draft agreement with its creditors. Even though some eurozone officials … “Euro Slide Halts as Greece Claims an Agreement”
EUR/USD: Trading the US Preliminary GDP May 2015
US Preliminary GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity, so publication of Preliminary GDP could have a significant impact on the movement of EUR/USD. A reading which is better than the market forecast is bullish for the dollar. Update:US Revised GDP: -0.7% … “EUR/USD: Trading the US Preliminary GDP May 2015”
Yen Weaker After Bank of Japan Minutes
The Japanese yen was weaker after the Bank of Japan policy minutes released earlier today. While the currency attempted to trim losses intraday, it resumed the decline as of now. The BoJ released the minutes of its April policy meeting during the Wednesday’s trading session. The minutes were moderately optimistic but had some negative part. For example, the report said regarding the outlook for inflation: With regard to the baseline scenario for prices, many members … “Yen Weaker After Bank of Japan Minutes”
GBPUSD: Sees Weakness, Eyes Key Support
GBPUSD: With the pair weakening further on Tuesday, further bearishness is envisaged possibly towards the 1.5290 level. On the downside, immediate support lies at the 1.5300 level where a break if seen will aim at the 1.5250 level. A break of here will turn attention to the 1.5200 level. Further down, support lies at the … “GBPUSD: Sees Weakness, Eyes Key Support”
A Clockwork Trade
Geographically[i], the United Kingdom and the Swiss Confederation couldn’t be more different. The U.K. is famous for being the Island nation of the North Atlantic; Switzerland for being the landlocked nation of the Alps. Switzerland has few natural resources: hydropower, timber and salt, and 10% of its land arable, whereas the U.K. is rich in … “A Clockwork Trade”
Canadian Dollar Continues to Struggle
After a bit of a rally, the Canadian dollar is struggling again. Even upbeat comments from the Bank of Canada can’t help the loonie overcome some of the realities of the current situation. Yesterday, the Canadian dollar fell against the US dollar as the loonie’s rally came to an end. The Canadian dollar has been showing some strength recently, but it is often short-lived and overcome by other news. Loonie is down against its major … “Canadian Dollar Continues to Struggle”