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Day: June 6, 2014
June 62014
Euro Slips vs. Dollar After NFP, Remains Firm vs. Other Majors
The euro dropped today against the US dollar after the release of non-farm payrolls but remained firm against other majors, including the Great Britain pound and the Japanese yen. It is surprising to see such resilience considering yesterday’s policy announcement from the European Central Bank. Initially, the euro tumbled after the ECB announced additional stimulus, but the currency bounced later and ended yesterday’s session with a big gain versus […]
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June 62014
US Dollar Gains Ground, But Earlier Gains Have Been Pared
US dollar is mostly higher today, but the currency’s earlier gains have been pared a bit following the latest US jobs numbers. Since the numbers matched expectations, many feel that the Federal Reserve will stay on course, and not speed up its efforts to end monetary policy easing. The latest monthly jobs report, for May, shows that the US economy added 217,000 jobs and that the unemployment rate […]
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June 62014
Canadian Dollar Firm, Withstanding Negative Fundamentals
The Canadian dollar was firm today despite yesterday’s negative data. An employment report will be released in Canada today and it is expected to be supportive to the nation’s currency. Building permits demonstrated an increase of 1.1 percent in April, which was far below the expected rate of growth of 4.1 percent. The seasonally adjusted Ivey Purchasing Managers’ Index tumbled from 54.1 in April to 48.2 in May, frustrating analysts who have […]
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June 62014
Yuan Profits from Dollar’s Weakness as PBoC Boosts Daily Fixing
The Chinese yuan advanced today as the nation’s central bank boosted its reference rate after the US dollar demonstrated a big drop despite the earlier rally. The Peopleâs Bank of China raised its daily fixing by 0.14 percent to 6.1623 per dollar, the biggest increase since January 10. The central bank allowed the yuan to appreciate as the dollar sank yesterday even though initially it demonstrated a strong rally after the European Central […]
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June 62014
US NFP Grow in Line with Forecasts, EUR/USD Slides
EUR/USD retreated today following yesterday’s rally. US nonfarm payrolls allowed the dollar to gain on the euro, but gains were limited as the report was in line with expectations, meaning that the positive reading was already priced in. The currency pair behaved weirdly yesterday, tumbling after the European Central Bank announced additional stimulus measures but rallying later. Nonfarm payrolls grew by 217k in May, in line with market […]
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