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Day: June 4, 2015
June 42015
Dollar Firms Ahead of Non-Farm Payrolls
The US dollar firmed a bit today as positive unemployment data returned optimism to dollar bulls ahead of tomorrow non-farm payrolls. Earlier, the currency had been subdued due to concerns about the US economy and hopes for positive resolution of the Greek crisis. The US Department of Labor reported that initial jobless claims fell 284,000 to 276,000 last week. The report followed yesterday’s data from Automatic Data Processing that showed growth […]
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June 42015
Pound Overcomes Service Data Drag
Service sector data sent the pound a little lower earlier, but now the sterling is overcoming some of that drag. Pound is still down against the euro, but it is gaining against other major currencies like the yen and the dollar. The latest UK services PMI reading from Markit came in below expectations, and that sent the pound lower earlier. Analysts expected to see a reading of 59.2, and the actual reading […]
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June 42015
Euro Continues to Log Gains
Euro continues to log gains today, heading higher as the bond market remains volatile and as the Greek prime minister insists that his country’s loan payment will be made on Friday as agreed. Euro is surging today as stocks drop and bond yields rise. Mario Draghi, the President of the European Central Bank, warned yesterday that bond market volatility would be around for a while. This is creating uncertainty in stock […]
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June 42015
EUR/USD Halts Rally After US Jobless Claims
The euro has been among the strongest currencies on the Forex market this week, and initially it looked like EUR/USD would continue to rise today. Yet the currency pair slipped below opening level as of now. US unemployment data was one of the major contributors to the decline. Initial jobless claims fell from 284k to 276k last week. The consensus forecast pointed at 280k as a possible number. (Event A on the chart.) Revised nonfarm productivity […]
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