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Day: April 5, 2013
April 52013
USD Loses Ground After Non-Farm Payrolls, Still Strong vs. JPY
The US dollar dropped today, falling for the third straight session against the euro and the Great Britain pound, after non-farm payrolls showed very small growth. At the same time, the US currency jumped to the highest level since June 2009 versus the Japanese yen. Non-farm employment grew 88,000 in March. It was nowhere near the median forecast of 198,000. Other macroeconomic data was a bit better. The unemployment rate ticked down […]
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April 52013
CAD Slumps as Fundamentals Look Terrible, Rises vs. JPY
The Canadian dollar sank today as fundamental reports were very bad, even worse that forecasts, which were not optimistic. The currency managed to outperform the Japanese yen, which remained soft because of aggressive quantitative easing from the Bank of Japan. Analysts have expected a meager employment growth by 6,800 jobs in March, but the actual report frustrated even pessimists as it showed a drop by 54,500. What is more, the unemployment […]
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April 52013
NZD Near Highest Since 2008 vs. JPY, Drops vs. USD
The New Zealand dollar traded sideways near the highest level since 2008 against the Japanese yen today after yesterday’s huge surge. The currency fell against its US peer as worse-than-expected US non-farm payrolls hurt the market sentiment, reducing demand for higher-yielding assets. NZD jumped together with other currencies against the yen today after the Bank of Japan announced an aggressive quantitative easing. The kiwi weakened today after […]
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April 52013
Malaysian Ringgit Rallies on Hopes Elections Will Stop Capital Outflows
The Malaysian ringgit gained today as Prime Minister Najib Razak dissolved the parliament and announced the national elections. Investors think that outflows from the country will reverse after the vote. It is expected that voting will go in favor of the incumbent Prime Minister, allowing him to extend his term in the office. The ringgit has fallen to 3.1395, the lowest level in seven months, on March 18 on uncertainty about the exact timing of elections […]
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April 52013
EUR/USD Climbs on Meager Nonfarm Payrolls Growth
EUR/USD climbed today, rising for the third straight session, as growth of US nonfarm payrolls was far below forecasts. The unemployment rate edged down though and other reports were better than expected, but the slow employment growth overshadowed other data. Nonfarm payrolls grew 88k in March. The growth was nowhere near the market expectations of 198k or the February increase of 268k (revised from 236k). At the same time, the unemployment rate […]
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April 52013
NOK Drops as Olsen Says Exchange Rate Too High
The Norwegian krone weakened today as Norges Bank Governor Oeystein Olsen complained about the high exchange rate and said that the strong currency can prevent an interest rate hike. Olsen said today: A higher key policy rate might have curbed debt growth and demand pressures in the Norwegian economy. But in an environment of persistently low external interest rates, such a policy would likely have led to a sharp appreciation of the krone, […]
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