The Australian dollar rallied today, ignoring the negative impact of the monetary policy meeting minutes released by the Reserve Bank of Australia. The positive market sentiment supported the currency. The traders’ mood improved due to the signs that the eurozone may overcome its troubles, most importantly the debt crisis in Greece. The optimistic market sentiment was especially beneficial to commodity currencies as it halted the rout of prices for raw materials. The Aussie joined the rally together with … “Positive Market Sentiment Allows Aussie to Ignore RBA Minutes”
Month: July 2015
Czech Koruna Slips as Central Banks Warns About Intervention
The Czech koruna fell against the euro today as the nation’s central bank warned about a possible intervention to curb excessive gains. The currency gained on the US dollar. Many currencies of emerging markets were firm against the euro today but the koruna was not among them. The reason for this was the warning from the Czech National Bank that it will intervene on the currency markets if the koruna rises above the 27 per … “Czech Koruna Slips as Central Banks Warns About Intervention”
Pound’s Rally Losing Steam
The Great Britain pound is struggling against other major currencies today. While the outlook for the Bank of England’s monetary policy remains very supportive for the currency, it looks like the last week’s rally is losing steam. Comments from BoE chief Mark Carney provided strong support for the currency, allowing it to become the best performer on the Forex market last week. Some experts question the reasons for the rally, though particularly … “Pound’s Rally Losing Steam”
US Dollar Mixed in Quiet Trading, Remains Strongest in Three Months
The US dollar demonstrated mixed performance during Monday’s quiet trading but remained strong in general. The Dollar Index remained near the highest level in three months. The outlook for monetary tightening has been supporting the US currency for a long time. Last week, Federal Reserve chief Janet Yellen said in her speech that an interest rate lift-off is likely going to happen this year. The comments allowed the dollar to become … “US Dollar Mixed in Quiet Trading, Remains Strongest in Three Months”
Loonie Continues to Struggle Along With Oil
Canadian dollar is struggling again today, thanks in large part to continued concern over last week’s surprise rate cut and due to falling oil prices. Loonie is lower again today, approaching levels not seen since 2009. Last week, citing concerns over economic growth, the Bank of Canada unexpectedly cut interest rates. The news sent the loonie lower as speculation about the state of the Canadian economy rose. Also … “Loonie Continues to Struggle Along With Oil”
Another Week of Strength for US Dollar?
The US dollar has been rather strong lately, being the second best performer on the Forex market last week. Can the currency continue its amazing performance this week? The most important factor contributing to the strength of the greenback is the probability of an interest rate hike this year, perhaps even as early as September. Some experts point out that the Federal Reserve talked about slow pace of rate increases, and an early hike … “Another Week of Strength for US Dollar?”
Euro Ekes Out Gains After Rough Week
Last week was rough for the euro, thanks to the continued drama over Greece, and concerns about what’s next for the euro. This week, the 19-nation currency seems to be ready to start off on better footing and is eking out gains. However, some of those gains may be due mainly to profit taking as Forex traders look to benefit from recent runups by other currencies. Euro is starting off the new week … “Euro Ekes Out Gains After Rough Week”
South African Rand Races Down
The South African rand was one of the weakest currencies on the Forex market today. The reason for such poor performance was the decline of prices for raw materials. The rand was the second weakest of emerging-market currencies during Monday’s trading while the first one was the Turkish lira. The South African economy depends of its commodity export, and raw materials did not perform that well lately. In fact, gold had sunk more than … “South African Rand Races Down”
NZ Bounces After Prime Minister Comments on Currency’s Drop
The New Zealand dollar climbed today, bouncing from the multi-year lows it has reached last week, after the nation’s Prime Minister voiced concerns about the size of the currency’s drop. The New Zealand dollar was falling lately due to the prospects for an interest rate cut as early as this week. Over the last year, the currency has declined 25 percent. Prime Minister John Key commented today that the speed of the fall … “NZ Bounces After Prime Minister Comments on Currency’s Drop”
Drilling down the deals: aGreekment and Iran – #59
We had two highly important deals: on Greece and on Iran, and both have significant market implications. After digesting the deals and their impact down the road, we preview the events of the next two weeks. You are welcome to listen, subscribe and provide feedback. Greece – what happened and what’s next: Nobody likes the aGreekment. What happened … “Drilling down the deals: aGreekment and Iran – #59”