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Day: February 3, 2016
February 32016
Weak Services Data Leads to Crash of USD vs. Euro
Services sector indicators from both Markit Economics and Institute for Supply Management were weak today. This lead for a drop by more than 1 percent of the US dollar versus the euro. Even strong US employment data was unable to rescue the greenback. ADP employment grew by 205k in January, exceeding analysts’ projections of 193k. The December increase was revised from 257k to 267k. (Event A on the chart.) Markit services PMI slid […]
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February 32016
Euro Down on Factory Data, Except Against the Dollar
Euro is mostly lower today, falling against many of its major counterparts after the release of factory output data. The US dollar is one of the few currencies that the euro is seeing gains against today. Eurozone factory output data was released today and it was a little disappointing. Many PMIs across the eurozone performed negatively, weighing on the euro in early trading. The 19-nation currency is mostly lower, […]
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February 32016
New Zealand Dollar Gets Help of Employment Data
The New Zealand dollar gained today with the help of positive employment report released overnight. Graeme Wheeler, Governor of the Reserve Bank of New Zealand, was speaking early during the Asian session, sending mixed signals about the future monetary policy. New Zealand employment rose 0.9 percent in the December quarter from the previous three months after falling 0.5 percent in the September quarter. The unemployment rate sank from 6.0 […]
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February 32016
Britain’s Services PMI Shows Stable Growth, Sterling Rallies
The Great Britain pound rallied today after the release of the services Purchasing Managers’ Index. The index was safely above the neutral level, showing stable growth of the sector. The Markit/CIPS UK Services PMI was at 55.6 in January, little changed from the December’s 55.5. The reading was good even though it missed analysts’ expectations of 57.6 and the preliminary estimate of 57.8. The sterling got boost from the positive data as well as from the reports […]
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