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Day: June 5, 2015
June 52015
Malaysian Ringgit Leads Drop of Asian Currencies
There have been plenty of reasons for the riskier Asian currencies to drop including concerns about the eurozone and Greece in particular, the rally of the US dollar and the decline of Asian bonds. The Malaysian ringgit has led the drop. The rally of the dollar and the problems with Greece has made the trading environment highly adverse to risky currencies of emerging markets. The news affected the currencies not just directly but also by hurting the Asian equity market, leading to the decline […]
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June 52015
Sterling Drops vs. Dollar, Fares Better vs. Other Majors
As most other currencies, the Great Britain pound fell against the US dollar today after the release of non-farm payrolls. The sterling fared better against other majors, including the euro. The dollar was simply too strong to be beaten by the pound due to the positive US employment data. Yet macroeconomic indicators in Great Britain itself were not bad either, as the Bank of England/Gfk NOP Inflation Attitudes Survey showed that inflation […]
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June 52015
Canadian Dollar Leaps as Employment Data Supports
The Canadian dollar made a huge leap higher today after the release of amazingly good employment data from Canada. The currency was able to outperform the US dollar, which itself had been bolstered by employment data from the United States. Canadian employment grew by 58,900 (seasonally adjusted) in May after the disappointing report for April that has shown a drop by 19,700. The May increase was far above the predicted rate of 10,200. […]
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June 52015
Stellar Non-Farm Payrolls Lead to Rally of US Dollar
The US dollar rallied against the basket of major currencies today after the stellar non-farm payrolls that have exceeded even optimistic forecasts. The currency gained more than 1 percent and climbed to the highest level in almost 13 years against the Japanese yen. US non-farm payrolls grew by whooping 280,000 jobs in May versus the consensus forecast of 222,000. Positive reading was certainly not a surprise to market participants after the previous […]
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June 52015
Euro Mixed as Greece Defers IMF Payment
Announcements made earlier today indicate that Greece is deferring its IMF payment, due today, until the end of June. The news comes with the backing of Brussels, and the Greek Prime Minister vows not to leave the euro zone. Euro is lower against the dollar today, but trading higher against some of its other counterparts, following the announcement that Greece will put off one of its IMF payments […]
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June 52015
Japanese Yen Remains Weak, Policymakers Worry About Complications
Japanese yen is mostly lower today, falling against many of its counterparts. While Japanese officials like the yen weak since it helps the economy, there are concerns that a continued policy of yen weakness could complicate matters with the United States. It’s been an interesting few days in Japan. In recent days, different officials have made conflicting statements about yen currency policy. Yen weakness […]
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June 52015
Euro Tumbles vs. Dollar After Nonfarm Payrolls
Today, EUR/USD has been hit hard by US nonfarm payrolls that had turned out to be even better than optimistic predictions by market experts. As a result, the dollar surged against the basket of major currencies, one of which is the euro. Consumer credit data released by the end of the trading session added to the strength of the US currency, being better than forecasts. Nonfarm payrolls demonstrated amazing growth in May, rising by 280k. […]
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June 52015
Aussie Retains Weakness Following Thursday’s Data
The Australian dollar retained its weakness today after yesterday’s detrimental economic reports. While the currency regained some of its strength against the euro, the Aussie remained soft against the US dollar and the Japanese yen. Australia’s trade balance deficit widened from A$1.23 billion to A$3.89 billion in April on a seasonally adjusted basis, exceeding analysts’ projections. Retail sales were unchanged on April while traders had counted on a small increase […]
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