kiwi
Softer Kiwi after New Zealand Rate Cut
August 11, 2016
The dollar advanced 0.4% against the New Zealand dollar, 0.3% versus the euro, yen and sterling, and 0.1% relative to the Swiss franc, Aussie dollar and yuan. The greenback is 0.1% lower against the loonie. New Zealand’s official cash rate was sliced 25 basis points to a record low of 2.0%. The drop had been […] More
May Ending in a Risk Averse Mood
May 31, 2013
Commodity-sensitive currencies had a difficult session. The New Zealand dollar dipped below $0.8000 for the first time since September 6, 2012. It fell as low as USD 0.7973 and is 1.0% weaker on balance. The Australian and Canadian dollars have slipped 0.8% and 0.5% against the greenback, which also has appreciated by 0.4% against the […] More
Concerns about Euro Debt and Chinese Growth
April 16, 2012
The euro fell 0.4% on balance against the dollar and dipped as low as $1.2995, the first sub-$1.3000 reading since February 16. Share prices in Japan tumbled 1.7% in Japan to the lowest session closing level since February 21. Speculation persists that the BOJ will extend quantitative easing later this month. However, Japanese department store […] More
In Search of New Foreign Exchange Equilibriums
March 23, 2012
Whether the euro looks resilient or weak depends on what comparisons to historical levels are chosen. Intuitively one expects this besieged money to be on the defensive. The Euroland economy is experiencing a recession. The debt crisis is at best in remission as attested by painfully high bond yield spreads with Germany. The Greek problem […] More
Euro’s Fate Next Week Hinging on PSI Deal
January 20, 2012
At this moment, reports leaking out of the PSI talks between Greece and its private sector creditors suggest that prospects have improved for a deal before the end of this weekend. PSI is the acronym for "private sector involvement," which in turn euphemistically refers to a voluntary exchange of existing Greek debt for new instruments […] More
Softer Pound on a Quiet Day
September 6, 2010
Canadian and U.S. markets will be shut today for Labor Day holidays. No meaningful data releases from markets that are open. Main currency movements have been a 0.6% drop of sterling, a 0.4% further recovery of the kiwi, and a 0.3% advance of the Chinese yuan. Market chatter surfaced that the Bank of England may […] More
