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Posts tagged: Greenback

Greenback Continues to Pull Back

By , January 27, 2015 11:18 am

[unable to retrieve full-text content]Greenback is pulling back against its major counterparts today, heading lower with some correction in the market. Also sending the dollar lower are expectations that the recent dollar bubble might burst. (…)Read the rest of Greenback Continues to Pull Back (145 words) Posted on Forex News.
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Loonie Remains Down Against Greenback

By , January 23, 2015 9:21 am

LooniesLoonie continues to fall against the greenback, even though oil is a little bit higher today. The Canadian dollar is doing better against European currencies, though.

Canadian dollar continues to struggle in Forex trading as oil prices fight to stabilize. Saudi Arabia’s King Abdullah recently passed away, with the succession moving to his half brother, King Salman. The new king, and the new crown prince, are 79 and 69, respectively. Oil prices received a bit of a boost on the news, since there were concerns that a troubled succession could interrupt oil production.

However, things seem to be going smoothly in Saudi Arabia. Oil prices are a little higher, but they don’t seem to be impacting the loonie that much. The Canadian currency continues to lose ground to the US currency with the rumors swirling around the Bank of Canada and interest rate cuts. However, thanks to a great deal of risk aversion and concern about what’s happening in Europe, the Canadian dollar is gaining against both the euro and the UK pound.

At 11:32 GMT the price of crude oil (WTI) is up to 46.85, a gain of 0.54 from the open. USD/CAD is up to 1.2418 from the open at 1.2404. EUR/CAD is down to 1.3945 from the open at 1.4093. GBP/CAD is down to 1.8612 from the open at 1.8615.

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

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Greenback Mostly Lower on Disappointing Data

By , January 15, 2015 5:25 am

A heap of hundred dollars US billsThe US dollar is mostly lower today, with the dollar index dropping, as Forex traders consider the recent data release. Lackluster data has many rethinking the idea that the Federal Reserve will raise rates in the immediate future. Instead, it looks as though there will be a little more wait and see happening.

Recent retail sales figures for the United States showed that they fell 0.9 per cent. This was disappointing, given the falling price of gasoline and a dropping unemployment rate. Many had expected to see better results from the holiday shopping season, and many had hoped that lower prices and better employment would result in more spending. This wasn’t the case, and the greenback is down because of it.

However, even though the US dollar is down against most of its major counterparts, and the dollar index is lower, the greenback is still higher against the euro. The 19-nation currency is reeling as the Swiss National Bank does away with the euro cap and the franc surges.

At 11:37 GMT the US dollar index is down to 90.8030 from the open at 92.1550. EUR/USD is down to 1.1718 from the open at 1.1790. GBP/USD is up to 1.5257 from the open at 1.5236. USD/JPY is lower, dropping to 116.3980 from the open at 117.2720.

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

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Greenback Continues to Look for Direction

By , December 11, 2014 7:19 am

Benjamin Franklin's portrait on a hundred-dollar billUS dollar is trading mixed today, and the US dollar index is down, thanks to a lot of the upheaval in the world right now. Greenback is trying to push higher after losing ground recently, and the results depend largely on a number of global factors.

It’s been an interesting week so far, as the US dollar has seen a great deal of weakness. Oil and gold prices remain choppy, and that is impacting the US dollar. There are also concerns about news out of China and Greece. There’s not a lot to support currencies like the euro right now, yet the euro is gaining against the greenback.

US dollar has rallied in recent weeks, and some think that it’s time for a correction — or at least a consolidation. That appears to be happening to some degree. The dollar is regaining lost ground against the yen, after falling yesterday, and is even rising against the pound. However, even with these advances, the dollar index is a little lower today.

At 11:48 GMT the US dollar index is down to 88.2670 from the previous close of 88.2710. EUR/USD is up to 1.2456 from the open at 1.2445. GBP/USD is down to 1.5676 from the open at 1.5712. USD/JPY is up to 118.4640 form the open at 118.9000.

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

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Aussie Dips vs. Greenback Ahead of Employment Data

By , December 5, 2014 4:23 am

A heap of Australian dollarsThe Australian dollar ticked down against the US dollar today as traders waited for US non-farm payrolls. The losses were limited, and the currency gained against the Japanese yen at the same time.

Traders anticipated a positive employment report from the United States, and this helped the US currency to gain on the Australian one. Yesterday’s data about jobless claims in the USA added to the greenback’s appeal. AUD/USD did not drop far though the currency pair traded near the lowest level since July 2010. As most other currencies, the Aussie rallied against the very weak yen.

AUD/USD inched down from 0.8380 to 0.8371 as of 9:38 GMT today. AUD/JPY gained from 100.38 to 100.76.

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

Earlier News About the Australian Dollar:

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Loonie Drops Against Greenback as Oil Prices Continue to Fall

By , November 5, 2014 6:00 am

Canadian 100-dollar billsLoonie is once again heading lower against the greenback, thanks in large part to oil prices. Even though the Canadian dollar is struggling against its US counterpart, though, it is gaining ground against European currencies. Concerns about what’s next in Europe, especially with sluggish Chinese data and policy statements coming tomorrow, are weighing on currencies across the pond.

Canadian dollar is struggling as oil prices continue to drop. Saudi Arabia has cut the price of the oil it exports to North America, and this is forcing oil prices down elsewhere as well. The loonie relies heavily on oil prices for support, and with oil falling back, the Canadian dollar is losing ground to the US dollar. The Saudis are interested in making its own production more attractive, since the United States produced more oil in September. The idea is to make oil cheap enough for Americans to buy it, rather than produce it.

However, even though the loonie is struggling against the greenback, it is gaining ground against its European counterparts. Many analysts are waiting for policy announcements and forward guidance from the ECB and BOE tomorrow.

At 11:54 GMT USD/CAD is up to 1.1448 from the open at 1.1410. GBP/CAD is down to 1.8193 from the open at 1.8253. EUR/CAD is down to 1.4288 from the open at 1.4315.

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

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Aussie Joins Rally Against Greenback

By , October 6, 2014 7:37 am

Australian dollar billsThe Australian dollar joined other most traded currencies in a rally against the US dollar today, while positive economic data from Australia allowed the Aussie to rise against its other major counterparts as well.

The greenback halted its rally, allowing other currencies to log gains, and the Australian dollar joined the trend. Domestic macroeconomic indicators added to the bullish momentum of Australia’s currency. The Melbourne Institute Monthly Inflation Gauge rose 0.1 percent in September, while job advertisements grew 0.9 percent last month, demonstrating the fourth consecutive monthly increase on a seasonally adjusted basis.

AUD/USD climbed from 0.8675 to 0.8722 as of 12:29 GMT today. AUD/JPY rose from 95.18 to 95.36.

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

Earlier News About the Australian Dollar:

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Euro Can’t Maintain Gains Against Greenback

By , October 3, 2014 8:56 am

Euro sign monumentWhile the euro is maintaining its recent gains against some of its counterparts, the 18-nation currency is losing ground to the US dollar. Thanks to continued policy divergence and weaker gold prices, there is little to support the euro against the greenback.

Yesterday, the euro got a bit of a boost against the US dollar when ECB President Mario Draghi was vague about plans to buy private debt and ramp up easing. Today, even though the euro is still higher against some of its major counterparts, the 18-nation currency is dropping against the dollar again.

Concerns about what’s next for the eurozone economy continue to weigh. Earlier today, Draghi pointed out that there are a lot of difficulties in the eurozone right now. While enumerating the difficulties, he also said he understands why many people living in the currency region are frustrated with the euro.

Lower gold prices are also not helping the euro’s cause. Often, the euro moves with gold prices, since gold moves inversely to the US dollar. With gold dropping, there is little to support the euro against the dollar.

At 10:47 GMT EUR/USD is down to 1.2619 from the open at 1.2669. EUR/GBP is higher, gaining to 0.7850 from the open at 0.7847. EUR/JPY is up to 137.5150 from the open at 137.3520.

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

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Loonie Continues to Weaken Against the Greenback

By , September 30, 2014 4:41 am

Canadian coins on Canadian dollar billsThe Canadian dollar continues to weaken against the greenback, thanks in large part to the recent difficulties with oil prices, and with commodity prices in general. The loonie is still maintaining its gains over the European currencies, though, mainly because of the relative strength of its economy.

Loonie is once again lower against the US dollar as policy divergence and lower commodities favor the greenback. Even though there is speculation that the Bank of Canada might start raising its own rate soon, the fact of the matter is that most of the focus is on the Federal Reserve in the United States.

The dollar’s strength is weighing on commodities like oil and gold, and that means a little weakness for the loonie, which is a commodity currency and especially dependent on oil prices. Even with oil prices recovering a little bit, they are still near recent lows.

Canadian dollar is gaining against the European currencies, however. Speculation about the BOC, and evidence that the Canadian economy is picking up, puts the loonie ahead of the game as compared to euro and pound.

At 10:43 GMT USD/CAD is up to 1.1172 from the open at 1.1164. EUR/CAD is down to 1.4073 from the open at 1.4164. GBP/CAD is down to 1.8087 from the open at 1.8133.

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

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Greenback Gains on Increased Policy Divergence

By , September 25, 2014 7:40 am

Focus on one US dollarUS dollar index is higher today, thanks in large part to the policy divergence that the greenback has with its counterparts. US dollar is gaining ground against other majors as expectations for higher rates provide support.

Even though the US economy has been recovering in fits and starts, overall progress has been shown, and it appears to be picking up the pace. This is in contrast to other economic regions, which seem to be stagnating and struggling.

As a result, some expect the Federal Reserve to raise interest rates relatively soon — at least compared to other policy moves by major economies. Since the greenback is expected to be supported by higher rates before other currencies are, gains for the US dollar are already being priced into the Forex market.

For now, the US dollar is mostly higher against its major counterparts, and the dollar index continues to show strength. There might be some consolidation in the near term to bring the dollar in check, but the greenback is expected maintain some level of strength in the medium to long term.

At 12:33 GMT the US dollar index is up to 85.4360 from the open at 85.0980. EUR/USD is down to 1.2723 from the open at 1.2780. GBP/USD is down to 1.6296 from the open at 1.6340. USD/JPY is up to 109.2080 from the open at 109.0425.

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

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