The reduced pace of Chinese factory production to kick off this year pulled down the Australian dollar on Monday against the majority of its counterpart currencies, Bloomberg reports. Though the metric rose 9.9 percent during January and February of this year as compared to the same period of 2012, a Bloomberg survey revealed economists' median… Read more.
Wednesday saw the Canadian dollar drop to its lowest value in eight months against its southerly rival as the Bank of Canada prepares to convene, Bloomberg reports. The Wednesday meeting is likely to see policy makers leave interest rates unchanged. Mark Carney, governor of the central bank, said in late February that rate hikes are… Read more.
Caution ahead of the central bank of Europe meeting on Thursday tugged down the value of the Canadian dollar on Wednesday, according to Reuters. The government of the northern nation was preparing to release employment data from the month of January, which is likely to impact the performance of the currency as well. But high… Read more.
Tuesday saw the monetary unit Canada drop in value against the Japanese yen as a consequence of policy makers with the Bank of Japan noting it will continue open-ended asset purchasing not as soon as anticipated, according to Bloomberg. The central bank of the Pacific Rim nation, host of the globe’s third-largest economy, decided to… Read more.
Healthy economic news and developments in the U.S. pushed up copper futures on Thursday as the base metal achieved gains of at least 1 percent, according to Reuters. The outlook for demand rose as housing and labor market data also enhanced optimism. The industrial metal is sensitive to financial and economic news due to its… Read more.
The Australian dollar slipped on Wednesday against the U.S. dollar after retail sales slowed in the South Pacific nation, halting three consecutive days of gains, Bloomberg reports. Those losses helped augment conjecture about the South Pacific country preparing to cut interest rates before March in order to spur the economy. But the New Zealand dollar… Read more.
Thursday saw the Canadian dollar advance against its southerly rival, benefiting from stronger than expected economic data released by both Canada and the U.S., the nation's top trade partner and host of the globe's largest economic system, Bloomberg reports. Canada saw retail sales climb for a fourth-straight month and the U.S. saw stronger than anticipated… Read more.
Increased generation from Chinese factories pushed copper futures to their top price in nearly eight weeks on Monday, according to Reuters. The Asian nation is the globe's top consumer of the reddish metal, but economic data also indicated the country's exports and imports were underwhelming, which capped gains for the base metal. The unexpected decision… Read more.
Thursday saw the English pound fall to its lowest value in 14 days against the shared currency of the European Union, tugged downward by economic data stating retail sales in the U.K. dropped in October more than projections issued by economists, Bloomberg reports. The pound also waned against the world's reserve currency, sliding to its… Read more.
Worldwide central banks compensating for weak economies with stimulus programs next year will drive gold futures to achieving and surpassing the threshold price of $2,000 per troy ounce, the head of a German bank's metals trading unit told Bloomberg. As part of the effort to preserve the recovery and help it continue its momentum, the… Read more.