Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: Gains

Indonesian Rupiah Gains as Court Supports Election Outcome

By , August 22, 2014 7:20 am

Rupiah notes and coinsThe Indonesian rupiah advanced today after the country’s Constitutional Court ruled in favor of Joko Widodo, rejecting challenges against the outcome of the July presidential elections.

Prabowo Subianto, another candidate for the presidential seat, challenged the voting outcome, claiming it to be a fraud. The court rejected the allegations, saying that there were no evidences of violations. With the court ruling, the rupiah lost the downward pressure from political uncertainty that was dragging the currency down previously.

USD/IDR fell 0.16 percent to 11,673.30 as of 13:25 GMT today.

If you have any questions, comments or opinions regarding the Indonesian Rupiah, feel free to post them using the commentary form below.

Forex News

FOMC Minutes Lead to Massive Gains for Dollar

By , August 20, 2014 5:15 pm

A sheet of new hundred-dollar billsThe US dollar jumped today, rising to the highest level since April against the Great Britain pound and the Japanese yen, while also touching the strongest price in almost a year versus the euro. The reason for the stellar performance was the minutes of the latest Federal Reserve policy meeting.

The minutes of the meeting, which has happened at the end of July, turned out to be very bullish. The lines that caught traders’ attention were:

With respect to monetary policy over the medium run, participants generally agreed that labor market conditions and inflation had moved closer to the Committee’s longer-run objectives in recent months, and most anticipated that progress toward those goals would continue. Moreover, many participants noted that if convergence toward the Committee’s objectives occurred more quickly than expected, it might become appropriate to begin removing monetary policy accommodation sooner than they currently anticipated.

It looks like the imminent monetary tightening is closer than was considered previously. Such outlook allowed the dollar to gain against other currencies, including the sterling that was rising before the news.

EUR/USD sank from 1.3319 to 1.3259 as of 23:19 GMT today, reaching the lowest rate since September. GBP/USD declined from 1.6616 to 1.6597, retreating from the high of 1.6679. USD/JPY climbed from 102.90 to 103.69.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

Forex News

Swissie Drops vs. Dollar, Gains vs. Euro

By , August 19, 2014 2:02 pm

Swiss coins on franc notesThe Swiss franc slumped along with the euro versus the US dollar today. The Swissie rose against the shared 18-nation currency itself but is slowly losing gains right now.

The performance of the Swiss currency was closely correlated to that of the euro since the Swiss National Bank introduced a cap on the franc three years ago. While central banks of some developed countries are planning to tighten their monetary policies, the European Central Bank maintains its easing bias. Most analysts believe that in such environment the SNB has no choice but maintain the currency ceiling for at least a year or two.

USD/CHF was up from 0.9063 to 0.9088 as of 19:36 GMT today. EUR/CHF dropped from 1.2113 to 1.2099 before trading at 1.2106.

If you have any questions, comments or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.

Forex News

Swissie Drops vs. Dollar, Gains vs. Euro

By , August 19, 2014 2:02 pm

Swiss coins on franc notesThe Swiss franc slumped along with the euro versus the US dollar today. The Swissie rose against the shared 18-nation currency itself but is slowly losing gains right now.

The performance of the Swiss currency was closely correlated to that of the euro since the Swiss National Bank introduced a cap on the franc three years ago. While central banks of some developed countries are planning to tighten their monetary policies, the European Central Bank maintains its easing bias. Most analysts believe that in such environment the SNB has no choice but maintain the currency ceiling for at least a year or two.

USD/CHF was up from 0.9063 to 0.9088 as of 19:36 GMT today. EUR/CHF dropped from 1.2113 to 1.2099 before trading at 1.2106.

If you have any questions, comments or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.

Forex News

ISIS Continues to Make Gains in Syria Despite Pressures in Iraq

By , August 17, 2014 11:01 pm

U.S. Lawmakers Sound Alarm Over Islamic State In Iraq

WASHINGTON — U.S. lawmakers voiced concern Sunday over the growing threat in Iraq posed by the Islamic State, the militant group seeking to establish a caliphate across Iraq and Syria.

“We need to defeat them,” Sen. Ron Johnson said on “Fox News Sunday.” “We need to be highly concerned about this. This threat is a gathering storm. It’s not going away.”

Rep. Adam Kinzinger (R-Ill.) made similar comments on ABC’s “This Week with George Stephanopoulos,” likening the Islamic State, also referenced as ISIS, to a “cancer that’s consuming all over the place.”

“What we’re watching in Iraq and in Syria frankly is the worst-case scenario for the Middle East,” said Kinzinger, a veteran who served in Iraq and Afghanistan. “I think what we’ve begun doing is very good, but I think we have to get even bigger and realize that the crushing and pushing back of ISIS, not just in Iraq but also in Syria, is of utmost priority. It’s something that we have to be involved in stopping.”

According to reports on Saturday, Islamic extremists killed more than 80 men from the Yazidi religious minority group in a village in northern Iraq before abducting their wives and children. The massacre followed a week of targeted airstrikes on the militants by both the United States and the Iraqi military.

Kinzinger said the threat posediv>
the militants was only metastasizing, noting that the U.S. should consider all of its options to fight back. Asked if that included boots on the ground, the Illinois Republican said he doesn’t want to see more U.S. troops deployed to Iraq, but warned the administration against taking anything off the table publicly.

“At the end of the day, I think the defeating of ISIS is the mission, and so I think everything has to be on the table for that end result,” Kinzinger said. “I understand that the president doesn’t want to put troops on the ground — I don’t either. You can’t reintroduce 200,000 American troops.”

Kinzinger said the U.S. should continue to send special forces to the region to assist the Iraqi military. New York Rep. Eliot Engel, the ranking Democrat on House Foreign Affairs Committee, said there may have to be some U.S. boots on the ground regardless.

“What’s going on in Iraq is horrific, and it warrants a response,” Engel said on Fox, where he appeared alongside Johnson. “We cannot just put our heads in the sand and pretend it doesn’t exist.”

Rep. Tulsi Gabbard (D-Hawaii), also an Iraq War veteran, was the lone source of skepticism over the mission in Iraq.

“We’re missing a critical question here, which is what is our mission? What are we trying to accomplish here?” said Gabbard, who appeared with Kinzinger on “This Week.”

Gabbard said she supported heavily arming Kurdish forces and assisting with their efforts to retake parts of the country seized by the Islamic State. But she was critical of the Obama administration for not having a plan to defeat the militants.

“We heard from the White House last week, and I quote: ‘These airstrikes are not part of a broad-based counterterrorism campaign against ISIS,’” Gabbard said. “So if our mission is not to take out the Islamic extremists who continue to threaten and wage war against us, then I think we’ve got a real problem here.”

Assyrian International News Agency

Euro Gains Ground Even After GDP Data

By , August 14, 2014 8:52 am

20-euro bill and the map of EuropeEven with the latest economic data out of the eurozone, the 18-nation currency is gaining ground today. Evidence that the eurozone economy has stalled, prompting concerns about a return to recession, hasn’t been enough to dampen the euro today.

Euro is heading higher against its major counterparts today, even after the latest data from the eurozone. Eurozone GDP has stalled, following a few months of weak growth. Even with the threat of recession, though, the euro is heading higher.

There are a number of issues weighing on the eurozone right now. First of all, German output fell more than expected. Germany is the largest economy in the eurozone, and is often seen as a bellwether and a leader. On top of that, the eurozone economy is threatened by the situation in the Middle East, as well as the sanctions against Russia, thanks to the situation in Ukraine.

Even so, the euro is heading higher against its major counterparts, even as commodities struggle. It’s an interesting dynamic. However, some expect that the euro will have to fall soon, due to the ECB taking action to stimulate the economy.

At 13:55 GMT EUR/USD is up to 1.3404 from the open at 1.3365. EUR/GBP is up to 0.8033 from the open at 0.8008. EUR/JPY is up to 137.2105 from the open at 136.8765.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Loonie Gains Against European Counterparts

By , August 7, 2014 8:11 am

Some Canadian dollar billsCanadian dollar is heading a little higher this week, gaining ground against European counterparts, thanks in large part to the latest trade surplus data. With the Canadian dollar looking for gains related to its economic recovery, and with Europe suffering from economic difficulties and geopolitical uncertainty, it’s no surprise the loonie is gaining.

The latest trade data from Canada showed a surplus of C$ 1.86 billion in the month of June. Canada is exporting at a record pace, thanks to the efforts made in 2013 to weaken the loonie.

This display of economic progress from Canada is helping the loonie against its European counterparts, even though it isn’t doing much against the greenback. Following today’s decisions from European central banks, the Canadian situation looks pretty good comparatively, and that is helping the loonie. Also helping the loonie is the fact that oil, even though it is below $ 100 a barrel, still retains a decent amount of strength.

Canada’s relative stability, as well as the fact that its economy hasn’t struggled as much to begin with, and its current improvements, are big helps to the loonie.

At 13:38 GMT EUR/CAD is down to 1.4599 from the open at 1.4609. GBP/CAD is down to 1.8389 from the open at 1.8397. USD/CAD is up to 1.0923 from the open at 1.0916.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Japanese Yen Settled Down After Earlier Gains

By , August 7, 2014 8:09 am

Watermark on the Japanese yen billJapanese yen is mostly lower again, following a brief surge earlier. Thanks to a temporary demand for safe haven assets, as well as stop-loss order executions earlier, the yen saw a brief surge. Now, though, the yen is settling down, and is mostly lower.

Earlier, the yen saw some rather dramatic gains. Part of it was due to safe haven demand. It appears that matters are spiraling out of control all over the world. The biggest driver of global uncertainty, now that Israel is withdrawing from Gaza, remains the tension between Russia and the West over the issue of Ukraine. There are also concerns surrounding American domestic and foreign concerns.

Yen surged as safe haven demand increased, and as stop-loss orders placed on positions below the 200-day moving average were triggered. It was an interesting situation, but things have since calmed down. Yen is down agains the US dollar and the UK pound. However, thanks to the fact that the eurozone is likely to be impacted by further issues in Ukraine, it’s not surprising that the yen is still higher against the euro.

At 14:08 GMT USD/JPY is up to 102.3705 from the open at 102.1035. EUR/JPY is down to 136.5630 from the open at 136.6425. GBP/JPY is up to 172.2805 from the open at 172.0850.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

Forex News

Greenback Gains Across the Board

By , August 5, 2014 7:10 am

Focus on one US dollarUS dollar is gaining against its major counterparts today, heading higher ahead of data releases. Greenback is higher today, and the US dollar index is gaining ground.

Many expect that economic data will show that the US economy continues to strengthen. Even though the dollar lost some ground toward the end of last week, with disappointing jobs data pulling the greenback lower, this week there is a little more optimism. There are expectations for PMI data to come in strong.

A strengthening US economy increases speculation that the Federal Reserve will have to accelerate its timetable for tightening monetary policy. The Fed is already in the process of stepping down its monthly asset purchases. The next step that Forex traders and others are watching for is an increase in interest rates.

If economic data comes in relatively strong today, that will provide more support for the US dollar against its major counterparts.

At 13:42 GMT the US dollar index is higher, moving up to 81.4950 from the open at 81.3140. EUR/USD is lower, falling to 1.3381 from the open at 1.3422. This represents another psychological victory for the greenback over the euro. GBP/USD is also lower, falling to 1.6861 from the open at 1.6863. USD/JPY is heading higher, up to 102.7105 from the open at 102.5670.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

Forex News

EUR/USD & EUR/GBP Rally, EUR/JPY Unable to Keep Gains

By , August 1, 2014 10:39 am

A fan of 500-euro billsThe euro rallied against the US dollar with help of disappointing US non-farm payrolls. The currency also gained on the pound as data from Great Britain was not good either. Against the Japanese yen, the euro rallied intraday but gave away gains as of now.

Manufacturing data from Europe was somewhat disappointing, at least to euro bulls, as it missed analysts’ predictions. Yet it was not completely bad, just slightly worse than expected.

At the same time, the manufacturing report from the United States was much better than forecast. Yet it did not overcome the impact of employment data, which was also not bad but trailed economists’ estimates. This allowed the euro to outperform the dollar.

By the same token, poor data from the United Kingdom made the sterling weaker than the shared 18-nation currency.

EUR/USD jumped from 1.3389 to 1.3445 before trading at 1.3430 as of 17:32 GMT today. EUR/GBP surged from 0.7926 to 0.7976. Meanwhile, EUR/JPY climbed from 137.62 to 138.00 but retreated to the opening level later.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News