Thursday, October 9, 2014

Dollar falls interest rates raise is uncertain

The dollar weakened to a three-week low against the yen as investors pushed back bets for when the Federal Reserve will increase interest rates. The greenback fell versus most of its major peers, dropping the greatest against Asian currencies after minutes of Fed policy makers September meeting, released yesterday, showed officials said slowing global growth and a stronger currency pose potential risks to the U.S. outlook.
The dollar depreciated 0.3% to 107.72 yen and touched 107.61, the weakest since September 17. The U.S. currency slid 0.4% to 1.2770 per euro and reached 1.2791, the most since September 24. The Dollar Spot Index, which tracks the greenback against 10 major currencies, lost 0.3% to 1,059.37, after dropping 1.5% during the previous three days.

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Wednesday, October 8, 2014

U.S. dollar was boosted before the Fed

The dollar gained against most of its major peers before the Federal Reserve releases minutes of its last meeting as investors weighed the timing of the first interest-rate increase since 2006. The greenback gained 0.3% to $1.2633 per euro after touching $1.2501 on October 3, the strongest since August 2012. It climbed 0.3% to 108.39 yen from yesterday, after falling 1.6% in the past two sessions. The yen was little changed at 136.94 per euro from yesterday, when it touched 136.56, the strongest since September 8.

The Fed, which meets October 28-29, is on track to end a program of stimulatory bond purchases this month. Futures’ trading shows a 45% likelihood that the U.S. central bank will raise rates to 0.5% or higher by the end of July. The target rate has been maintained in a range of zero to 0.25% since 2008 to support the economy. The U.S. economy is seen expanding 3.1%, compared with a 3% pace forecast in July, the IMF said.

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Monday, October 6, 2014

the Canadian dollar, six months low

The Canadian_dollar fell to its lowest point in six months against the U.S. dollar after the nation posted an unexpected trade deficit in August, supporting the Bank of Canada’s cautious outlook on the economy. The currency rose against most of its other major peers after data showed the jobless rate in the U.S., Canada’s largest trading partner, fell to a six-year low in September.

The Bank of Canada has held its benchmark interest rate at 1% for four years and maintained last month it is as likely to lower borrowing costs as raise them while it waits for signs of a sustained export recovery that can power economic growth. The Loonie fell as low as 1.1271 per U.S. dollar, the least since March 20, before closing down 0.8% at 1.1244.

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Thursday, October 2, 2014

Gold on its lowest price in 8 months

Gold fell to extend a weekly drop as investors assessed prospects for higher U.S. interest rates before the world’s biggest economy reports monthly payrolls. Platinum dropped to a five-year low, set for the biggest weekly loss since June 2013.
Gold is moving closer to erasing this year’s gains. An accelerating U.S. economy means investors are shunning haven investments even after the U.S. expanded sanctions against Russia and stepped up its campaign against Islamic State. Improving data have strengthened the dollar and prompted the Federal Reserve, on track to announce the end of its bond-buying program this month, to assess whether the economic recovery can withstand higher borrowing costs.

Bullion for immediate delivery slid as much as 0.3 %to $1,211.06 an ounce and was at $1,211.56, down 0.6% this week. The metal touched $1,204.57 on September 30, the lowest since January 2. The Dollar Spot Index has risen 0.2% in the past five days and is heading for its seventh week of gains, the longest stretch since June 2010. Gold typically trades counter to the dollar. U.S. employers added 215K jobs in September, according to the estimate before Labor Department figure today. The increase in August was 142K. Gold for December delivery fell 0.2 percent to $1,212.50 on the Comex in New York. Futures are set for a fifth weekly loss, the longest such run since January 2013.

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