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Day: October 3, 2014
October 32014
Dollar Explodes to Upside After NFP
The US dollar surged today after non-farm payrolls came out even better than optimistic expectations, while positive trade data added to the upside momentum. The greenback reached a new multi-year high against the euro and the lowest level in almost 11 months against the Great Britain pound. US employers added 248,000 jobs in September compared to the median analysts’ forecast of 216,000. The disappointing August figure of 142,000 was revised positively […]
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October 32014
Australian Dollar Unable to Maintain Rally
The Australian dollar fell against its US counterpart after the gauge of the nation’s service’s sector demonstrated yet another month of decline. The currency also erased its gains versus the Japanese yen that it had made previously. The seasonally adjusted Australian Industry Group Australian Performance of Services Index declined from 49.4 in August to 45.4 in September. The figure below 50.0 indicates contraction of the sector, and it was the seventh month […]
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October 32014
Euro Can’t Maintain Gains Against Greenback
While the euro is maintaining its recent gains against some of its counterparts, the 18-nation currency is losing ground to the US dollar. Thanks to continued policy divergence and weaker gold prices, there is little to support the euro against the greenback. Yesterday, the euro got a bit of a boost against the US dollar when ECB President Mario Draghi was vague about plans to buy private debt and ramp up easing. […]
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October 32014
Lower Commodities Weigh on Loonie
Loonie continues to struggle against the US dollar, even as it makes gains against European currencies like the pound and the euro. Disappointing economic data and lower commodities aren’t helping the Canadian dollar. Earlier this week, disappointing economic data pointed to slowing growth in Canada. After six months of gains for the economy, a bit of a stumble was seen. The news has many once again predicting a rate hike from the Bank of Canada […]
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October 32014
Poor Services PMI Doesn’t Add to Already Bearish Bias of GBP
Today’s report about UK services sector was rather negative, but it hardly affected the Great Britain pound that had already declined versus the US dollar and had retreated from the daily high against the Japanese yen. The Markit/CIPS UK Services Purchasing Managers’ Index fell from 60.5 in August to 58.7 in September, trailing analysts’ estimates. The gauge joined other economic indicators in pointing out a struggle for UK […]
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October 32014
NFP Exceeds Expectations, EUR/USD Slumps to New Low
EUR/USD sank today, reaching a new multi-year low, after US nonfarm payrolls turned out to be better than even optimistic expectations. While positive data was priced in, the actual report still managed to surprise the Forex market, resulting in huge gains for the dollar. Nonfarm payrolls demonstrated growth by 248k in September, which was noticeably bigger than the predicted 216k. Moreover, the meager August increase of 142k was […]
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