November 2013 FX News

Archived Daily FX News from the TorFX Foreign Exchange Specialists...

Euro rises on positive German sentiment 25 Nov at 5 AM The euro bounced against the dollar after Germany announced a marked improvement in business sentiment. Also helping the single currency out of a two-year trough were comments by Bundesbank head, Jens Weidman, that the European Central Bank could face legal hurdles if it pushes ahead with plans to purchase government bonds.

ECB...
Dollar and euro make gains against the yen 20 Nov at 11 AM The yen has fallen to its lowest level in seven years against the dollar and a six-year low against the euro. The Japanese currency has been under pressure since the Bank of Japan announced stimulus measures in October.

The dollar climbed as high as 118.09 yen and the euro hit 148.05 yen, an increase of 1.1 percent. The dollar...
Dollar steady after recent rally 13 Nov at 6 AM The dollar is steady after its recent rally against the euro and the yen. Analysts are now waiting for US and Chinese economic data to be released. The greenback is trading at 115.56 yen after hitting a seven-year high of 116.11. The Japanese currency has managed to stabilise after Yoshihide Suga, the government’s leading spokesman, said...
Dollar rally stalls as euro gains strength 5 Nov at 7 AM The recent dollar rally appears to have stalled as the euro makes gains against a backdrop of uncertainty about the action that will be taken by the European Central Bank. After hitting a four-year high at the beginning of the week of 87.406 the dollar index has slipped back to 87.027, a loss of 0.3 per cent. Monday also saw the greenback hit...
Yen slides against dollar and euro 22 Nov at 9 AM The yen has dropped to its lowest level against the euro in four years and to a four-month trough against the US dollar. Pressure on the Japanese currency comes as positive data is released by Germany, the eurozone’s largest economy, and the US, the world’s largest economy.

The euro was trading as high as 136.45 yen and the...
Euro tumbles as ECB considers dropping deposit rates 21 Nov at 9 AM The euro has dropped following a report that negative deposit rates are being considered by the European Central Bank as a way of pushing inflation up.

Additional pressure was put on the single currency as details of the minutes from a Federal Reserve policy meeting indicated that the US economic outlook was strong enough for...
Dollar down as yuan given more flexibility 20 Nov at 9 AM The US dollar has fallen slightly as the central bank in China announced that it will be pulling back from its usual intervention in the forex market. However, analysts do not believe this will have a long term effect on the greenback as the Federal Reserve looks likely to scale back its massive bond-buying programme as early as March next...
China reforms boost Aussie dollar 19 Nov at 9 AM The New Zealand dollar and the Australian dollar were given a boost on Monday against the yen and the US dollar as investors in the stock market celebrated economic reform plans in China. Shares in China posted their largest gains in two months as Beijing announced sweeping social and economic reforms.

However, analysts are...
Euro up against yen and dollar 18 Nov at 9 AM The yen is hovering near its lowest levels in four years against the euro. The single currency is buying 135.26 yen, which is close to a peak of 135.52 yen achieved on 22 October. The dollar is also up to its highest level against the Japanese currency in two months and was buying 100.22 yen on Friday.

The Bank of Japan is...
Dollar recovers 15 Nov at 9 AM The dollar has recovered from earlier losses against a basket of major currencies. Janet Yellen, Federal Reserve Chair nominee, has hinted that the central bank will continue with its massive bond buying programme in an effort to stimulate the US economy. Even before Yellen answered questions in front of the Senate Banking Committee, the...
Dollar pressured by Yellen comments 14 Nov at 9 AM The dollar has been placed under increased pressure after Janet Yellen, Federal Reserve Chairman-elect, said the US economy and labour markets were still under-performing, while the jobless rate remained too high. Her comments have created fresh doubt that the central bank is about to scale back its massive bond buying policy.
Dollar up on hints of Fed tapering 13 Nov at 12 PM The dollar is up against the euro and is approaching its highest level against the yen in nearly two months. The greenback strengthened after Dennis Lockhart, Atlanta Federal Reserve President, hinted that a reining in of the central bank’s $85 billion monthly bond buying programme could happen before the end of December.

All...
Dollar falls but prospects positive 12 Nov at 10 AM The dollar has fallen against the euro as investors look to lock in gains after a two day rise. However, analysts remain positive that the greenback will find support after strong US job figures made it more likely the Federal Reserve will scale back its huge bond buying programme sooner rather than later.

The dollar is also...
Banks face another rate fixing scandal 11 Nov at 9 AM Some of the biggest banks on the planet are being investigated as part of a probe into possible foreign exchange rate rigging. The list of financial institutions includes Credit Suisse, Goldman Sachs, JPMorgan, Royal Bank of Scotland, HSBC, Barclays, Citigroup, Deutsche Bank and UBS.

The banks are either being probed by...
Euro pressured by interest rate cut 8 Nov at 1 PM The euro remains under pressure following the European Central Bank’s decision to cut interest rates. The single currency is currently close to its lowest level in eight weeks. The dollar has had some of its gains tempered as analysts look to the latest US jobs report.

If there is evidence that the economy is strengthening it...
Euro recovers on bets the ECB will not cut interest rates 7 Nov at 12 PM Expectations that the European Central Bank will not announce a cut in interest rates have helped the euro to remain firm today. However, if governor Mario Draghi does announce a change in the central bank’s policy, any gains are likely to be short-lived. Last week a drop in inflation in the eurozone caused many experts to predict a cut in...
Euro under pressure 6 Nov at 12 PM The euro has fallen against the US dollar and the UK pound as investors speculate the European Central Bank may be preparing to cut interest rates and introduce and easier money policy. The single currency is down 0.3 per cent to $1.3472 after hitting a low of $1.3448. Many strategists believe that the euro could remain under pressure for the...
Euro recovers ahead of ECB interest rate decision 5 Nov at 9 AM The euro has recovered from a near seven-month trough on better manufacturing data coming out of the eurozone. However, gains were muffled by the expectation that the European Central Bank might make moves to cut interest rates. A drop in inflation throughout the region has led to a number of banks, including Royal Bank of Scotland and UBS,...
Euro down ahead of ECB policy meeting 4 Nov at 9 AM The euro has hit its lowest level in six weeks as the European Central Bank looks to cut interest rates as a way of encouraging growth. The single currency fell to a low of $1.3442 and is currently trading at $1.3478. Many traders believe that the euro will recover and that the currency’s fall is not a cause for concern.
Euro drops on inflation slowdown 1 Nov at 9 AM The euro dropped overnight to its lowest level in a fortnight after an unexpected inflation slowdown was announced. Analysts are now looking to see whether the European Central Bank will move to bolster the economy. During October inflation fell to 0.7 per cent, a four-year low, and well below the 1.1 per cent forecast and the 2 per cent ECB...
China is not a currency manipulator according to US 28 Nov at 9 AM A semi-annual report produced by the US Treasury has found that China is not manipulating its currency in order to have an unfair advantage in terms of trade. The report admitted that Beijing needed to make further progress and that the yuan is currently undervalued but did not say that the currency was manipulated, a declaration that could...
Euro down as ministers discuss bailout for Greece 21 Nov at 9 AM The euro appears to be remaining steady against the US dollar as investors concentrate on Greece and whether a meeting of European finance ministers will approve a bailout payment. Analysts are also focusing on what will happen if the Obama administration and Congress fail to agree to avoid the looming fiscal cliff.

A meeting has...
European economic problems see euro dip against the dollar 14 Nov at 9 AM The euro has slumped to its lowest level in a month against the yen and to its lowest level against the dollar in nearly two months as analysts watch to see if Spain will ask for a bailout and concerns linger over whether further aid will be delivered to Greece.

November has seen the euro dip against the dollar by 1.9 per cent...
Dollar drops as presidential election takes centre stage 7 Nov at 9 AM The dollar has dropped slightly on the Asian markets as investors wait for the results of the presidential election in the US. The dollar index fell from a high on Monday of 80.843 to 80.622. Expectations that austerity measures will be approved by the Greek parliament have helped the euro to jump from a low of $1.2764 to $1.2800. An...

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