The New Zealand dollar slid to multi-year lows against its major counterparts as inflation data released today missed analysts’ expectations, increasing chances for monetary easing from the nation’s central bank. The Consumer Price Index rose 0.4 percent in the second quarter of 2015 from the previous three months, trailing the median forecast of 0.5 percent. On a positive side, the Business NZ Manufacturing Index climbed by 3.2 points to 55.2 in June. Still, … “NZ Dollar Hits Multi-Year Lows After CPI Misses Expectations”
Month: July 2015
Euro Slides After Greece Approves Austerity
The euro slipped today, extending yesterday’s losses even though the Greek parliament voted in favor of austerity measures required to get the next tranche of a bailout from the European Union. While the Greek parliament voted for the bailout, Greek Prime Minister Alexis Tsipras may still encounter hurdles both inside and outside of the country. Inside, many Greeks who have voted against austerity are unhappy with what they perceive to be … “Euro Slides After Greece Approves Austerity”
CHFJPY Respects Resistance and Prints Bearish Inside Candle
CHFJPY has retrace back up the recent down move to re-test an old swing level – which is now holding as resistance. We can see the small bearish rejection candle that communicates that price wants to hold under the level. We haven’t seem much bearish follow through – but an inside day has formed with … “CHFJPY Respects Resistance and Prints Bearish Inside Candle”
German hard line on Greece begins to backfire on 5
Germany defeated Greece in the EU Summit and received huge concession and a humiliating capitulation. Tsipras, the hero of the Greferendum, was severely defeated by the scare of a Grexit. However, as time passes by and despite the probable approval of harsh austerity in the parliament, there are signs that Germany’s hard line could backfire. Here are 5 fronts were the attitude … “German hard line on Greece begins to backfire on 5”
Great Britain Pound Holds Ground After Employment Disappoints
Today’s unemployment data from the United Kingdom was rather disappointing yet it did not hurt the Great Britain pound much. The currency held relatively well against its major counterparts, rallying versus the euro and the Japanese yen and staying flat versus the US dollar. The number of jobless claims rose by 7,000 in June from May while analysts promised a drop by 8,900. The unemployment rate rose unexpectedly by 0.1 percentage … “Great Britain Pound Holds Ground After Employment Disappoints”
Bank of Canada Makes Surprise Interest Rate Cut, CAD Tumbles
The Bank of Canada surprised the market by cutting interest rates today. The Canadian dollar tumbled, falling more than 1 percent, as a result. The drop was especially big against the US dollar as the Canadian currency reached the lowest level since March 2009. The BoC cut its main interest rate by quarter of a percentage point to 0.5 percent during today’s policy meeting. While some analysts anticipated a rate cut, for the most part … “Bank of Canada Makes Surprise Interest Rate Cut, CAD Tumbles”
Euro Continues to Fall as IMF Points Out Current Form Isn’t Sustainable
Euro is losing ground to its major counterparts today as a report from the IMF suggests that the recent agreement reached with Greece won’t actually fix problems and that a new arrangement — likely a true fiscal union — is probably needed moving forward. The latest report from the International Monetary Fund indicates that things aren’t going well for the euro, and that the recent agreement with Greece is unlikely to provide … “Euro Continues to Fall as IMF Points Out Current Form Isn’t Sustainable”
Orbex Launches New Affiliate Dashboard
Cyprus based forex broker Orbex launches a new innovative affiliate dashboard, expanding its B2B business that has been with us since 2010. Here are more details from the official press release: Orbex investment firm and an international forex broker has updated its Partners Area, bringing the new technology to affiliates from around the world. Orbex has … “Orbex Launches New Affiliate Dashboard”
Yellen’s Remarks Send US Dollar Higher
US dollar is heading higher today, thanks to remarks from Janet Yellen before Congress. She remains upbeat about the economy and suggests that an interest rate hike is coming before the end of the year. Greenback is gaining ground today against its major counterparts as Federal Reserve Chair Janet Yellen speaks before Congress. She has been speaking in an upbeat manner about the economy, and says that she … “Yellen’s Remarks Send US Dollar Higher”
Australian Dollar Attempts to Gain, Rally Fades
The Australian dollar attempted to rally today after the release of a set of positive macroeconomic reports from China. The rally was not big and currently is fading away. China’s economic growth remained at the 7 percent level in the second quarter of this year, the same as in the first quarter, while analyst predicted small slowdown to 6.9 percent. Industrial production and retail sales also exceeded forecasts. The news was positive for the Australian currency as China … “Australian Dollar Attempts to Gain, Rally Fades”