Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FX Daily Update

Published 05/28/2015, 08:45 AM
Updated 05/14/2017, 06:45 AM

The Greenback Still On a Tear!
The loonie continued to fall yesterday, as the Bank of Canada kept its key rate unchanged. In its statement, the BoC mentioned that it would assess the impact of a rising loonie on the economy, and this shows that Governor Stephen Poloz wants to boost exports by reducing the value of our currency. Our central bank is expecting the economy to bounce back for the second portion of 2015 and stated that Canadian inflation is under control.

Optimism was back on North-American markets yesterday: the NASDAQ is fast approaching the historic high it recorded on March 10, 2000 while the S&P 500 and Dow Jones Industrial Average are respectively 35% and 28% above their 2007 highs. During the night, the Shanghai Composite plunged by 6.5% because of pressure from authorities to limit share purchases on margin.

This morning the U.S. dollar is still strong against major currencies, trading at its highest level in the past twelve years against the yen and having risen by 5% against the euro since May 18.

Economic Data

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.