Canadian Dollar Advances as Current-Account Deficit Narrows

The Canadian dollar advanced today against its US peer as the nation’s current-account deficit shrank last quarter, adding to speculations that the central bank may raise interest rate in the future.
The currency declined versus the euro. The Canadian current-account shortage narrowed by C$0.5 billion to C$14.1 billion in the first quarter of 2013. Analysts have expected an increase. The positive data added to evidences that the Bank of Canada can withdraw some stimulus without hurting the

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Franc Rises as GDP Growth Beats Expectations

The Swiss franc rose today as economic growth in Switzerland exceed analysts’ expectations, attracting investors to the nation’s assets and supporting the currency’s role as a safe haven. Swiss gross domestic product expanded 0.6 percent in the first quarter of 2013 from the previous three months.

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Aussie Drops with China’s Manufacturing

The Australian dollar slumped today, reaching the lowest level in a year against the US dollar, as China’s manufacturing contracted this month and the US Federal Reserve hinted that quantitative easing may be reduced.

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Franc Drops as Jordan Speaks on Negative Interest Rates & Franc Cap

The Swiss franc dropped today as Swiss National Bank President Thomas Jordan talked about possibility of negative interest rates and shifting of the cap on the franc. Jordan warned about negative consequences of a strong currency: An appreciation of the franc would endanger price stability and have structurally grave consequences for the Swiss economy. He also spoke about changing the franc’s ceiling:

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Loonie Falls as Oil Drops and Fed Considers Reduced Easing

Canadian dollar is losing ground today, dropping as the the US Federal Reserve considers reducing its economic stimulus efforts. It’s also not helping the loonie that oil prices are dropping again. Dollar strength is the story across the board today, and that is affecting the loonie as well.
The news that the Federal Reserve might reduce its quantitative easing program is contributing to dollar strength today, and the Canadian dollar is following those flows. With the dollar stronger, commodities are struggling. Oil prices are lower today, and that affects the loonie as well. Oil is

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UK Inflation Slows, Pound Weakens

The Great Britain pound weakened today after data showed that inflation slowed last quarter more than was predicted by analysts, reigniting concerns about the UK economy. The Consumer Price Index rose 2.4 percent in the first three months of 2013 from a year ago, slowing from the growth of 2.8 percent in the fourth quarter of 2012. The median forecast was at 2.6 percent. Other reports today were also negative, spoiling optimism caused by the previous macroeconomic data.

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AUD/USD Falls After RBA Minutes, Losses Limited

The Australian dollar fell against its US peer today after the Reserve Bank of Australia released the minutes of its last policy meeting.
The drop was small, however, and the currency gained against the Japanese yen at the same time. The RBA minutes were dovish and said: Conditions in the business sector, as assessed in surveys, generally had remained below average, possibly in part because the exchange rate had remained high despite lower export prices and interest rates. Policy makers also thought that “the inflation outlook provided scope to ease monetary policy further, should that be necessary to support demand”. All in

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