Day: September 2, 2011

September 2
2011

Pound Profits from Terrible US Payrolls

The Great Britain pound gained against the US dollar as bad US non-farm payrolls reduced attractiveness of the greenback. The sterling also moved higher versus the euro as traders are concerned about the European economy. Forex traders that own euro want to find a safe haven as the economy of Europe shows signs of slowdown. The yen and the franc, being the conventional safe currencies, are logical choice, but they are under the threat of intervention. […]

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September 2
2011

US Dollar Suffers From Terrible Nonfarm Payrolls

The US dollar fell against other major currencies, including the Great Britain pound and the Japanese yen, today after the non-farm payrolls showed that job creation in the US stalled. The currency also slipped against the euro, but later rebounded. US non-farm payrolls showed no employment growth in August. That’s much worse than the market expectations (growth by 74,000) and the worst reading since September 2010, when employment declined […]

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September 2
2011

Franc Jumps as US Payrolls Show Zero Growth

The Swiss franc climbed today against the US dollar, extending its rally for the third day, after the non-farm payrolls showed that US employers weren’t adding jobs last month. US non-farm payroll employment showed no change in August, while the unemployment rate remained at 9.1 percent. Analysts predicted an increase of payrolls by 74,000. July value was revised down from 117,000 to 85,000. It’ll be interesting to see […]

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September 2
2011

Rand Fluctuates as Traders Uncertain About Global Growth

The South African rand fell today as uncertainty of Forex traders about ability of the global economy to maintain growth reduced demand for safer currencies. Yet currently the rand rebounded. Market participants were less inclined to believe in the global economic recovery after the report of Automatic Data Processing showed on August 31 that the US employers added 91,000 jobs last month, less than predicted reading of 102,000. Market sentiment slightly […]

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September 2
2011

EUR/USD Advances as US Employment Growth Stalls

EUR/USD was rising for almost whole trading session, but jumped after nonfarm payrolls showed that US employers virtually weren’t adding jobs last month. Unemployment rate managed to stay unchanged. The report was very pessimistic for the US economy and for the dollar too as talks about next round of quantitative easing should resume with even more intensity. US nonfarm payrolls came out today and showed a terrible […]

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September 2
2011

Swedish Krona Falls as Manufacturing Declines

The Swedish krona fell as the report showed that manufacturing in Sweden contracted last month, reinforcing outlook that the nation’s central bank would cut interest rates. The Swedbank manufacturing index fell to 48.7 in August from 50.1 in July, while the average forecast was 49.8. A reading below 50.0 indicates decline. That was the first decline in two years. The unfavorable report supported the view that the Swedish economy is just […]

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