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Day: January 10, 2014
January 102014
Has the Japanese Yen Reached a Bottom?
There is some speculation that the Japanese yen might have reached a bottom. The yen is currently trading higher against its major counterparts today. Some of it could be risk aversion, though. Even though European and Asian markets did well, US markets are struggling on the latest jobs data news. Japanese yen is moving higher today, thanks in part to weakness seen in other currencies. […]
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January 102014
US Dollar Index Pulls Back After Jobs Data
Earlier, the US dollar index had been higher, in anticipation of December’s jobs data. However, when the nonfarm payrolls report was released, it was rather disappointing and the greenback immediately began losing ground. Economists and others had expected December’s nonfarm payrolls report to show that the economy added 193,000 jobs. However, the report instead showed that there were only 74,000 jobs added. This was such […]
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January 102014
Surprise Employment Report Pushes EUR/USD Straight Up
The euro has been sent to rally against the US dollar following today’s release on unemployment. It looks like the markets preferred to react to extremely negative payrolls reading (largely affected by adverse weather) than to the shrinking total unemployment rate. Nonfarm payrolls increased by 74k in December — significantly below 197k forecast value and much worse than November’s 241k growth (revised positively from 203k). At the same time, overall unemployment […]
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