The US dollar was weaker against the vast majority of most traded currencies (with the exclusion of the Japanese yen) today. Most US economic reports released from the United States over the Thursday’s trading session were bad, leading to speculations that monetary tightening from the Federal Reserve would be very gradual. Durable goods orders sank 5.1 percent during December, far more than the 0.6 percent drop … “US Data Doesn’t Look Good, Dollar Lower vs. Most Currencies”
Month: January 2016
Eurozone Confidence Drops, But Euro Remains Higher Against Dollar
The latest economic confidence data out of the eurozone shows a drop from December to January. Even though this news is bolstering the case for stimulus, the euro is higher against the dollar. Euro is gaining ground against the US dollar today, in spite of the latest data that indicates that there is less confidence in the economy of the 19-nation currency region. Eurozone confidence dropped to 105 in January from 106.7 in December. This … “Eurozone Confidence Drops, But Euro Remains Higher Against Dollar”
Zurbruegg Says No Risk of Deflation, Swiss Franc Rises
The Swiss franc was higher today after Fritz Zurbruegg, Deputy Chairman of the Swiss National Bank, said that there is no risk of deflation. Zurbruegg stated today that there is no risk of deflation despite the strong franc, saying: Inflation is very low and remains in negative territory this year. This is due to a transition of the sharp fall in oil and the strength of the franc and does not pose the risk … “Zurbruegg Says No Risk of Deflation, Swiss Franc Rises”
UK GDP Growth in Line with Expectations, Pound Higher
The Great Britain pound gained today following the release of a GDP report that showed stable growth of the UK economy. The currency backed off from its session highs as of now but remains safely above the opening level. Britain’s gross domestic product rose 0.5 percent in the fourth quarter of 2015 after rising 0.4 percent during the previous three months. The reading matched the consensus forecast of economists. Yet apparently markets … “UK GDP Growth in Line with Expectations, Pound Higher”
Four FOMC reactions
The Fed had a somewhat cautious and dovish approach, leaving many confused. Is March off the table or is it still on? What about risks? Here are 4 opinions from various banks. Note that some still see a hike in the upcoming meeting: Here is their view, courtesy of eFXnews: BofA Merrill The modest tweaks the … “Four FOMC reactions”
EUR/USD: Trading the US Advance GDP
US Advance GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity, and publication of Advance 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. Here are all … “EUR/USD: Trading the US Advance GDP”
NZ Dollar Drops as RBNZ Leaves Doors Open to Interest Rate Cuts
The Reserve Bank of New Zealand refrained from an interest rate cut yesterday after slashing rates last month but signaled about possibility of an additional cut in the future. As a result, the New Zealand dollar sank during the previous trading session, though the currency is attempting to recover during the current session. The RBNZ voiced concerns about developments in both New Zealand and global economies. Additionally, the central bank complained about the exchange … “NZ Dollar Drops as RBNZ Leaves Doors Open to Interest Rate Cuts”
Dollar Mixed After Fed Concludes Policy Meeting
The US dollar was mixed after the Federal Reserve had concluded its monetary policy meeting. The Fed made no changes to the policy, in line with market expectations, while the statement was mostly balanced but with a dovish bias. The Fed mentioned in its statement that “labor market conditions improved further” but also admitted that “economic growth slowed.” Meanwhile, the statement dropped mentioning of risks being balanced. … “Dollar Mixed After Fed Concludes Policy Meeting”
US Dollar Trades Mixed Ahead of Fed Announcement
US dollar is trading mixed today, as Forex traders and analysts await the Fed announcement later today. There is a great deal of volatility in the markets today. Greenback is trading mixed today as investors look forward to the Fed announcement scheduled for later in the afternoon Eastern time. Markets are choppy today, including stocks and commodities, in addition to currencies. An unexpectedly large oil inventory of 11.4 million barrels is throwing the markets … “US Dollar Trades Mixed Ahead of Fed Announcement”
NZ Dollar Higher, Waiting for Fed & RBNZ Meetings
The New Zealand dollar trades above the opening level currently, waiting for monetary policy meetings of the Federal Reserve and the Reserve Bank of New Zealand that may determine trends for the currency both on short and longer terms. The Fed will conduct its meeting at 19:00 GMT while the RBNZ gathering is scheduled at 20:00 GMT. Experts do not expect changes from either of the central banks, but traders will watch statements … “NZ Dollar Higher, Waiting for Fed & RBNZ Meetings”