Euro attempted a rally against the US dollar earlier, taking advantage of the frustration many Forex traders have with US yields right now. However, that rally has fizzled out as the focus shifts to safe haven flows. Euro is lower against its low-beta counterparts, even as it gains against currencies like the pound and the loonie.
July 19th, 2014 at 11:54
The US dollar gained this week with help of geopolitical tensions in Eastern Europe and Middle East that were driving the Forex market by the end of the week. The greenback ended the week flat versus the Japanese yen, another currency that profited from the need for safety.
July 18th, 2014 at 13:22
US dollar index is higher today as the greenback continues to gain on expectations for improvement in the economy. With Janet Yellen’s upbeat assessment earlier this week, even slightly mixed data can’t dampen the spirits of those that think the US dollar will soon gain strength as the Fed reduces is easing efforts.
July 17th, 2014 at 0:49
The US dollar traded sideways as comments of Federal Reserve Chairperson Janet Yellen were received with a mixed reaction by the Forex market. The currency demonstrated strong gains against the euro for two consecutive sessions.
July 16th, 2014 at 13:13
Loonie has been sinking, in an overall trend kind of way, since Stephen Poloz took over at the Bank of Canada. With another policy statement on the way today, there are expectations that the Canadian dollar could go lower, particularly against the US dollar.
July 15th, 2014 at 14:42
The euro is losing ground fast, thanks in large part to the latest data out of Germany. Concerns about the German ZEW have the euro down pretty much across the board, particularly against the US dollar. Concerns about the eurozone’s largest economy have many speculating that, perhaps, the ECB will have to take further steps to stimulate the economy of the 18-nation currency region.
July 15th, 2014 at 13:40
US dollar index is heading higher today, gaining ground as policy divergence becomes more of an issue, especially with the euro. Since the euro is the currency with the heaviest weight in the dollar index basket of currencies, it’s no surprise that the index is doing well.
July 14th, 2014 at 14:25
Canadian dollar is making up some lost ground today, gaining against the US dollar. After disappointing data at the end of last week, the loonie headed lower, but today the Canadian currency is making something of a turnaround. Many Forex traders are looking forward to the interest rate announcement expected from the Bank of Canada on Wednesday.
July 12th, 2014 at 15:18
It looked like members of the Federal Open Market Committee would make this week very bad for the US dollar by their dovish comments. Yet the currency was rescued by risk aversion that followed news about problems of a major Portugal’s bank. This did not help the greenback to outperform the Japanese yen but allowed the US currency to erase losses versus the euro and to gain on several other currencies, including the Great […]
July 11th, 2014 at 13:18
US dollar is retaining its upper hand against counterparts today as the good news about initial jobless claims offers speculation that an improving jobs situation could lead to an interest rate hike. Even though the latest Fed minutes don’t support the idea of rate hikes anytime soon, there are still many who hope for better outcomes for the greenback.