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Day: September 30, 2015
September 302015
Negative Inflation Sends Euro Lower in Forex Trading
The inflation reading turned negative today, sending the euro lower as speculation about the measures the European Central Bank will have to take in order to continue stimulating the economy. The latest German unemployment figures aren’t helping the situation, either. Consumer prices in the eurozone declined 0.1 per cent year over year for the month of September. This drop in inflation was unexpected, and it has many concerned about what’s next for the eurozone. ECB […]
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September 302015
US Dollar Index Moves Higher as Employment Data Comes In
US dollar index is higher today, gaining as the latest private-sector employment data from ADP comes in for September. The news indicates a bit of a letup in the pace of hiring, but that isn’t weighing too heavily on the dollar, which is mostly higher against its major counterparts. The latest report from ADP indicates that the private sector added 200,000 jobs to the US economy in September. The news has resulted in a little bump […]
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September 302015
Economic Reports Spark Rally of Great Britain Pound
The Great Britain pound rallied today, boosted by a couple of favorable macroeconomic reports released from the United Kingdom during the Wednesday’s trading session. UK gross domestic product rose 0.7 percent in the second quarter of 2015 according to the final estimate, unchanged from the preliminary reading and matching analysts’ predictions. The current account deficit shrank to £16.8 billion in Q2 2015 down from £24.0 billion in Q1 (revised, £26.5 billion before […]
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September 302015
NZ Dollar Gains After Mixed Data
The New Zealand dollar gained today against its major peers even though domestic economic reports were mixed, providing not that much help to the currency. The seasonally adjusted number of building consents dropped 4.9 percent in August following the 20 percent gain in July. As for the positive part of today’s data, the ANZ Business Confidence improved markedly from -29.1 in August to -18.9 in September. The reports had limited impact on the New […]
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September 302015
EUR/USD Reverses Movement
EUR/USD reversed its upward movement and fell today as US employment data beat analysts’ expectations. It is an encouraging sign for dollar bulls ahead of even more important nonfarm payrolls, which will be released on Friday. ADP employment was up by 200k in September, a bit above the median forecast of 192k and August’s growth of 186k. (Event A on the chart.) Chicago PMI dropped by 5.7 points to 48.7 in September. Analysts’ predictions […]
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September 302015
Aussie Gains amid Risk Appetite & Mixed Data
The Australian dollar ticked up during the Asian trading session today amid returning risk appetite and mixed domestic macroeconomic data. The gains were limited though. The seasonally adjusted number of building approvals dropped 6.9 percent in August from July, much more than 1.8 percent predicted by experts. At the same time, private sector credit rose 0.6 percent last month, at the same rate as in the month before, while economist […]
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September 302015
Yen Backs Off as Volatility Abates
The Japanese yen back off today following yesterday’s rally as markets calmed somewhat and demand for safety abated. Worse-than-expected macroeconomic reports from Japan also contributed to the retreat of the currency. Recently, concerns about China’s slowdown, timing of an interest rate hike in the United States and the drop of Glencore stocks led to high volatility on markets. Today, markets calmed a bit, especially after Glencore rebounded. Most analysts think that the calm will […]
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