It seems that the US dollar has been plagued with a string of poor economic data in recent weeks. Within the last week, the market saw the Philly Fed, Richmond Fed, GDP, and today, Chicago PMI and Consumer Confidence all print at worse than expected levels. This shouldn’t come as a surprise as the US [...]
As November begins soon the United States Dollar (USD) bulls will attempt what hasn’t done is five years. The Canadian Dollar (CAD) has dominated the exchange rate battle since 2001 against the United States Dollar. 1 USD used to buy over 1.60 CAD back then. Recently the exchange rate was less than 1.10 CAD. After [...]
The Federal Open Market Committee (US Fed) left the US overnight lending rate unchanged yesterday at 5.25% for the 3rd consecutive time. The currency market had a knee jerk reaction as traders initially found the news to be pro Dollar but very quickly began to sell off as they continued to read through the Fed’s [...]
Over the past twenty days the Australian Dollar has advanced approximately 600 pips against the euro. The market is expecting Reserve Bank of Australia Governor Glenn Stevens to raise rates above 6% compared to the the euro at 3.25%. Inflation has been higher than the 2-3% Mr. Stevens wants. Rises in commodity prices have also [...]
How about on bank notes? The Kazakh Central Bank did not spell the word “bank” correctly when printing their currency on the new notes. * Reuters Article The United States Bureau of Engraving and Printing has made some mistakes before too, and they are valuable if you find them. Takes a look at some of [...]
One of the highest yielding currencies may hike rates yet again. Over the the past thirty days the New Zealand Dollar has gained a whopping 500 pips against the Japanese Yen with speculation the new interest rate spread will be 7.25% ( Current yeilds: Yen .25% – NZD 7.25% with expectations to rise to 7.5%) Read [...]
On Oct 24th Eurozone Current Account is coming out. This report should interest those concerned with foreign exchange rates because European investors have been flowing out of Europe for the past few months, creating A-typical deficits out of the Euro-zone Current Account. Following this report traders will get some good insight into what is driving [...]
High yielding currencies show strength over the last few weeks as all make significant gains against their lower yielding counterparts. South African Rand – 8% – See graphic below Hungarian Forint – 7.5% – See graphic below New Zealand Dollar – 7.25% – Chart Australian Dollar- 6% – Chart United States Dollar – 5.25% – [...]
Last week Federal Reserve vice-chairman Donald Kohn expressed question about rates falling anytime soon. Then Friday payrolls numbers came in better than what traders expeted. This coupled with falling oil prices, after ranging for months, the dollar advances strongly bringing it to levels we have not seen since late July against the euro. But how [...]
As oil prices have been falling in the last week or two, so have the currencies of the heavy oil exporting countries including the Canadian Dollar and the Norwegian Krone.
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