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Day: November 4, 2011
November 42011
Canadian Employment Shrinks, CAD Slumps
The number of employed persons in Canada unexpectedly declined last month and the unemployment rate increased more than was anticipated, leading to the slump of the Canadian dollar. The forecast for the Canadian employment report weren’t optimistic at all, promising the growth of the employment to slow from 60,900 in September to just 16,300 jobs in October. The actual report proved truly disastrous, even compared to the forecast, as the employment shrank by 54,000, almost erasing the gains from the previous month. As a result, […]
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November 42011
Japanese Yen in Demand from China
Japanese leaders recently intervened in the Forex market in order to weaken the yen, which has been strengthening lately. However, efforts to keep the yen lower have been running into trouble as China increases its investment in Japanese notes and bonds. Normally, China doesn’t present much of a problem for Japan. China holds a large number of currency reserves denominated in US dollars, and, until quite recently, Chinese efforts at diversification have […]
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November 42011
US Dollar Mixed in Forex Trading
US dollar is mixed in forex trading today as many currencies trade rangebound as the Forex market — and other markets — look for direction. Economic data is mixed today, and that is likely contributing to the confusion with currencies. Right now, jobs data has been released in the US that shows that nonfarm payrolls added 80,000 jobs to the economy in October. However, this good news is a bit […]
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November 42011
Aussie Heads Down on RBA Economic Outlook
The Australian dollar fluctuated today, heading for a first weekly loss against the US dollar since September, after the Reserve Bank of Australia cut its economic forecast, leading to the speculation that the central bank will decrease the interest rates on its next monetary policy meeting. The RBA released its economic outlook today and it was less optimistic than the previous one. The central bank predicted the economic growth will be […]
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November 42011
US Payrolls Show Slower Employment Growth, EUR/USD Down
EUR/USD was rallying today, but dropped as fear returned to the Forex market and trades shun the shared European currency. Greek Prime Minister George Papandreou may lose his post and that may postpone the bailout for Greece for undetermined time. The US payrolls showed that the employment growth slowed last month, but the unemployment rate managed to decrease a little. Nonfarm payrolls increased by 80k jobs in October. September value was […]
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November 42011
EUR/USD Rallies for Third Day on US Employment Expectations
The euro rallied today for the third straight day on the speculation the employment growth in the USA slowed, supporting the case for the Federal Reserve to perform additional monetary easing. Analysts predict that the US non-farm payrolls will show today that the employment growth moderated to 97,000 in October, compared to 103,000 in the preceding month. Earlier, the euro slowed its rally and was attempting to go down as concerns about Greece returned with new strength. Greek […]
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November 42011
Russian Ruble Goes Up with Crude
The Russian ruble went higher against the US dollar as crude oil rallied after the positive developments in Europe reinvigorated markets and returned risk appetite to investors. Germany and France postponed the planned bailout for Greece after the country’s government announced the intention to hold a referendum. Now, after Greece scrapped its plans for the referendum, investors became more interested in buying higher-yielding assets, like commodities and currencies of emerging markets, rather than safer […]
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