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Day: July 2, 2014
July 22014
US Dollar Higher After ADP Jobs Report
The latest jobs report from the private sector indicates that the economy ramped up in terms of hiring during the month of June. This news is providing a boost to the economy, as well as providing a basis for speculation that the Federal Reserve will have to accelerate its tightening schedule soon. This expectation is providing a boost to the US dollar. Greenback is higher today, thanks in large part to the latest jobs data. Automatic Data […]
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July 22014
GBP/USD Reaches Highest Since 2008 on Construction PMI
The Great Britain pound advanced today with help of an unexpectedly positive construction report. The sterling retreated to the opening level against the US dollar as of now but only after reaching the highest level since October 2008 against the US currency. The Markit/CIPS UK Construction Purchasing Managersâ Index climbed from 60.0 in May to 62.6 in June instead of falling to 59.7 as was predicted by analysts. Employment growth in the construction sector reached the highest […]
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July 22014
Australian Dollar Slips as Trade Deficit Widens Unexpectedly
The Australian dollar weakened today as the nation’s trade balance deficit widened unexpectedly in May, damping optimism for the currency but not erasing it completely. Australia’s trade gap surged from A$780 million in April to A$1,911 million in May. It was a nasty surprise for Aussie’s bulls who have counted on a decrease to A$160 million. The Australian currency fell as a result but did not erase yesterday’s massive gains. AUD/USD fell […]
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July 22014
US Employment Beats Expectations, EUR/USD Sinks Lower
EUR/USD extended yesterday’s drop for the second session today after a US employment report turned out to be far better than most optimistic expectations. Today’s data precedes tomorrow’s nonfarm payrolls, and it gave hope for traders (at least, to those who are bullish on the dollar) that the payrolls will be solid too. ADP employment grew by 281k in June following the 179k growth in May. The actual value was substantially […]
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