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Day: September 5, 2014
September 52014
Canada Loses Jobs, Losses of CAD Limited
The Canadian dollar fell today as economic data from Canada was unexpectedly bad. The losses were limited, though, perhaps because market participants paid more attention to news from the Unite States. Economists predicted that Canada’s employment growth would slow from 41,700 in July to 10,300 in August, but the actual report was even worse, showing a drop by 11,000. Both full-time and part-time employment contributed to the decline. The unemployment […]
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September 52014
NFP Make Nasty Surprise for Dollar Bulls, USD Halts Rally
US non-farm payrolls provided nasty surprise for dollar bulls, sending the US currency down, as they came out much worse than was expected. The greenback halted its rally but not necessarily lost upward momentum completely, and it reached new highs for the year against some of its peers before retreating. US employers added just 142,000 jobs in August, according to the official data released today. It […]
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September 52014
JPY Bounces After Touching Six-Year Low vs. USD, Loses Ground to EUR
The Japanese yen traded near the opening level against the US dollar after touching the lowest rate since October 2008 earlier today. The currency is losing ground versus the euro following yesterday’s massive gains. The disparity between monetary policy outlooks for the Federal Reserve and the Bank of Japan makes the yen less attractive than the dollar even in times when traders seek safer assets, like they were doing after […]
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September 52014
Malaysian Ringgit Retains Losses After ECB Surprise
Most risky currencies fell yesterday after the surprise interest rate cut from the European Central Bank, and the Malaysian ringgit was among them. Today, the Forex market is still shaken, meaning that the yesterday’s trends remain in place. Yesterday’s surprise from the ECB threw the market into disarray, resulting in all sorts of volatile moves among currencies. Positive economic data from the United States added to the mix, fueling […]
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September 52014
Loonie Trades Mixed as This Week’s Dust Settles
Canadian dollar is trading mixed today, looking for solid direction as the dust from this week settles. The Bank of Canada kept things steady, but elsewhere, there is plenty of turmoil. Many are still waiting for the Bank of Canada to start raising rates again. After all, the Canadian economy continues to hold up admirably, and some are getting concerned about inflation. However, BOC Governor Stephen Poloz has […]
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September 52014
Euro Makes Small Gains
Euro is eking out some small gains today, following yesterday’s huge drop against all major counterparts. Forex traders aren’t expecting much, though. The big shocker from the ECB is likely to result in general euro weakness for a while. For months, Forex traders and other have been speculating about what the ECB would do to help boost the eurozone economy. Any move would, of course, weaken the euro, […]
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September 52014
NFP Provide Nasty Surprise, EUR/USD Recovers
EUR/USD is recovering from yesterday’s huge losses as the currency pair found support from US nonfarm payrolls. It was rather unexpected turn of events as traders were counting on another solid employment report that would support the dollar. Nonfarm payroll provided a nasty surprise to market participants as most of them were expecting growth by about 226k in August following an increase by 212k in July. Yet the actual figure was […]
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