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Day: July 3, 2014
July 32014
Dollar Heads Higher with Jobs Boom in June
US dollar is heading higher today, gaining ground, thanks to a jobs boom for the month of June. The latest nonfarm payrolls report from the US government shows expansion, as well as a drop in unemployment. The good news is pushing the dollar higher on expectations that the Federal Reserve will soon have to end easing sooner rather than later. The employment situation in the United States appears to be improving. According to the Labor Department, nonfarm […]
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July 32014
Sterling Under Pressure from Services PMI, Maintain Bullishness
The Great Britain pound fell against the US dollar today after the gauge of the services sector fell more than was expected. The sterling is still trading near the highest level since 2008 and was able to maintain its gains versus the Japanese yen. The Markit/CIPS UK Services Purchasing Managers’ Index dropped from 58.6 in May to 57.7 in June, though the report said that the reading is “nonetheless indicative of a sharp […]
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July 32014
Euro Struggles After ECB Decision
Euro is struggling today, following the latest decision from the European Central Bank. As expected, interest rates remain where they were set last month. However, some were surprised that ECB policymakers have yet to move on other stimulus measures. Thanks in large part to policy divergence, the euro is struggling against many of its major counterparts today. The ECB announced that it is keeping its […]
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July 32014
Riksbank Surprises with Big Interest Rate Cut, Swedish Krona Plunges
The Swedish krona crashed today as the nation’s central bank cut its repo rate more than analysts have expected and promised to keep it low till the end of the next year. The bank also cut its growth and inflation estimates. The Riksbank cut its main interest rate by half a percentage point (instead the expected quarter of a percentage point) to 0.25 percent. The central bank had rather positive view on the global economy, […]
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July 32014
EUR/USD Sinks After Stellar US Nonfarm Payrolls
EUR/USD crashed today after the release of US nonfarm payrolls, which beat even optimistic forecast. Today’s data followed yesterday’s employment report, which was also far better than Forex trades have counted on. Other US indicators released today were in line with expectations. Meanwhile, the European Central Bank was meeting today but did not make any noticeable changes to its monetary […]
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July 32014
Aussie Extends Losses on Retail Sales & Stevens’ Comments
The Australian dollar dropped today, extending its decline for the second session, as economic data and comments of central bank’s chief made Forex traders concerned about the currency’s ability to sustain its recent gains. Reserve Bank of Australia Governor Glenn Stevens was speaking today at the Econometric Society Australasian Meeting and the Australian Conference of Economists. He said regarding the exchange rate: But lest there be any uncertainty about this, […]
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