Day: September 4, 2015

September 4
2015

Canadian Dollar Fails to Rally as US Employment Overshadows Canadian

The Canadian dollar attempted to rally today on the back of the relatively positive domestic employment report but failed and logged significant losses. The reason for the unimpressive performance was non-farm payrolls. Canadian employment rose by 12,000 in August, almost two times the July’s growth of 6,600 and nowhere near the pessimistic analysts’ predictions of a drop by 4,800. Yet this did not prevent the unemployment rate from unexpectedly increasing by 0.2 percentage point to 7.0 percent. […]

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September 4
2015

Dollar Gains as Jobs Report Suggests Possibility of September Rate Hike

US dollar is heading higher today as analysts consider that the latest jobs data could point to a rate hike by the Federal Reserve this month. Speculation that the Fed would put off the rate hike has been rampant, but now it appears that a hike could be coming sooner than expected. The latest unemployment data from the United States shows that the economy added 173,000 nonfarm […]

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September 4
2015

Draghi Comments Send Euro Lower

Euro is heading lower today, thanks in large part to the latest comments from ECB President Mario Draghi. With the European Central Bank adopting a dovish stance and talking about more easing, it’s little surprise that the 19-nation currency is heading lower against the greenback today. Euro is trading mixed today, dropping against currencies like the dollar and the yen, but gaining against the sterling and the loonie. The latest […]

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September 4
2015

GBP Falls for Ninth Session vs. USD

The Great Britain pound dropped for the ninth consecutive day against the US dollar today. The currency was dragged down both by domestic reports and news from abroad. Released yesterday, the Markit/CIPS UK Services PMI came out at 55.6 in August, far below expectations. Moreover, it was the weakest reading in more than two years. Mario Draghi, President of the European Central Bank, made rather dovish comments yesterday, fueling […]

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September 4
2015

Yen Gains as FX Market Focuses on Upcoming US Employment Data

The Japanese yen rallied today as the Forex market is preparing for the release of US employment data. The currency gained even though economic data from Japan itself was not particularly good. Traders anxiously anticipate the upcoming release of non-farm payrolls scheduled for 12:30 GMT today. A positive report would increase chances for an early interest rate hike, likely increasing risk aversion on the market. This allowed the yen, which is […]

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September 4
2015

Dollar Holds onto Gains as NFP Disappoint

US nonfarm payrolls released today were disappointing for dollar bulls, but that did not prevent the US currency from rising. The thing is that, while employment growth was below forecasts, the unemployment rate and wage inflation were better than the market has counted on. Now, analysts speculate how today’s data will affect the policy decision that the Federal Reserve should make on September 17. […]

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