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Day: July 5, 2013
July 52013
CAD Gains on Employment Report, Loses to USD
The Canadian dollar gained today as the employment report came out better than was expected. The currency remained soft against the US dollar as employment data from the United States was good too. Canadian employment contracted by 400 jobs in June from May when it has jumped by 95,000. It was not a very good figure, but it was certainly better than the expected drop by 4,200. The unemployment […]
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July 52013
Non-Farm Payrolls Bring Dollar Higher
The US dollar jumped today as growth of nonfarm payrolls exceed forecasts, suggesting that the Federal Reserve can reduce stimulus without damaging the economy too much. US non-farm payrolls grew by 195,000 in June, maintaining the same rate of expansion as in the preceding month. Experts have predicted an increase by just 163,000. At the same time, the unemployment rate stayed at 7.6 percent, disappointing market participants who have expected a decrease to 7.5 percent. […]
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July 52013
EUR/USD Sinks After US Nonfarm Payrolls
The major event today was the release of US nonfarm payrolls. They came out noticeably better than was expected, but the unemployment rate remained steady, while market participants have hoped for a small decrease. EUR/USD slumped, trading near the lowest level since April, after the report. Nonfarm payrolls rose by 195k in June, the same rate as in May (revised up from 175k). Market participants have expected a smaller […]
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July 52013
Canadian Dollar Mixed Ahead of Employment Reports
The Canadian dollar fell against its US counterpart and rose versus the Japanese yen ahead of today’s employment reports from Canada and the United States. Economists predicted that today’s report will show that Canadian employment contracted by 4,200. Such expectations are negative for the loonie. Yet the signs that the major central banks will keep stimulus measures supported the Canadian currency to some degree. USD/CAD rose from 1.0511 […]
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