The Russian ruble declined today as prices for crude oil continued to fall, endangering the Russian economy that largely depends on oil exports. Crude oil extended its move down during the Thursday’s trading session, touching the lowest level since 2003. This hurt oil-linked currencies, like the Norwegian krone and the Russian ruble. Additionally, the Russian economy continues to suffer from sanctions imposed on Russia by Western nations due to its supposed … “Russian Ruble Drops Along with Crude Oil”
Month: January 2016
Ringgit Higher After Malaysian Central Bank Decreases SRR
The Malaysian ringgit gained against the US dollar today after the nation’s central bank kept interest rates steady and decreased its reserve requirements ratio. The Bank Negara Malaysia kept its key Overnight Policy Rate at 3.25 percent during today’s policy meeting as was expected by analysts. The central bank said in the statement: At the current level of the OPR, the stance of monetary policy remains accommodative and supportive of economic activity. The MPC recognises … “Ringgit Higher After Malaysian Central Bank Decreases SRR”
Vote for Forex Crunch in the FXStreet’s Forex Best
I am honored to have been nominated in two categories in FXStreet’s annual Forex Best Awards for 2016. Forex Crunch has been nominated in the Best Buy-Side Analysis Contributor and in the Best Speaker category alongside excellent nominees which are all worth checking out. The list of nominees has been established by FXStreet’s team and … “Vote for Forex Crunch in the FXStreet’s Forex Best”
NZ Dollar Bounces from Daily Lows
The New Zealand was down earlier during the Wednesday’s trading session but rebounded against its major rivals. Currently, the kiwi trades above the opening level against the US dollar and the euro. Yesterday’s New Zealand data was detrimental to the currency as GDT Price Index dropped 1.4 percent while the nation’s Consumer Price Index dropped 0.5 percent in the fourth quarter of 2015. Today’s data was more favorable as the Business … “NZ Dollar Bounces from Daily Lows”
BoC Surprisingly On Hold: 2 Reasons – Nomura
The BOC surprised with not cutting the rates and also sending a not-so-dovish message, allowing some breathing space for the Canadian dollar. Here are two reasons: Here is their view, courtesy of eFXnews: Against Nomura’s expectations, the Bank of Canada (BoC) left its policy rate at 0.50%. Overall, today’s decision, indicates that the BoC seems … “BoC Surprisingly On Hold: 2 Reasons – Nomura”
Canadian Dollar Bounces from 12-Year Low vs. US Dollar
The Canadian dollar rallied today after the Bank of Canada made a surprise decision to keep interest rates unchanged instead of cutting them as the majority of analysts had predicted. Earlier, the currency reached the lowest level in 12 years against the US dollar before bouncing higher. The BoC kept interest rates on hold, announcing: All things considered, therefore, the risks to the profile for inflation are roughly balanced. Meanwhile, financial vulnerabilities continue to edge … “Canadian Dollar Bounces from 12-Year Low vs. US Dollar”
Euro Turns Lower Ahead of Next ECB Meeting
Euro has turned lower today, ahead of the next ECB meeting taking place tomorrow. Even though eurozone inflation is higher, it isn’t meeting expectations, and there is some speculation that policymakers will have to make up for the disappointing showing in December. Eurozone inflation figures are in, with a year over year rise of 0.2 per cent for the month of December. The news was greeted with mixed results, … “Euro Turns Lower Ahead of Next ECB Meeting”
GBP Pain – Tough year for Sterling ahead
Paul Wallace, Trading Coach for Trading Beliefs & Founder of London Traders Network, joined Nick Batsford and Mike Ingram on the Tip TV Finance Show to discuss the fortunes of the GBP against the USD, Euro and Yen. Topics Covered: GBP, GBP/USD, EUR/GBP, GBP/JPY Watch the video to find out what is expected from the … “GBP Pain – Tough year for Sterling ahead”
Yuan Lower vs. Dollar as Fears Return to Forex Market
The Chinese yuan fell against the US dollar today as China’s stock markets resumed their decline, reigniting fears about economic slowdown in the world’s second biggest economy that can hurt the global economy as well. The Shanghai Stock Exchange Composite Index resumed its decline, falling 1 percent today. Yesterday’s economic data from China was largely in line with expectations but some reports were a bit … “Yuan Lower vs. Dollar as Fears Return to Forex Market”
Pound Mixed After UK Employment Data
The Great Britain pound was flat versus the US dollar and the euro while falling versus the Japanese yen today following the release of mixed employment data from the United Kingdom. The number of claims for unemployment benefits fell by 4,300 in December to the lowest level since March 2008. The unemployment rate unexpectedly slipped by 0.1 percentage point to 5.1 percent in the period from September to November — the lowest since January 2006. A somewhat negative … “Pound Mixed After UK Employment Data”