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Day: February 5, 2016
February 52016
Poor NFP Don’t Prevent EUR/USD from Falling
Nonfarm payrolls released on Friday missed analysts’ expectations, but that did not translate into a rally of EUR/USD. In fact, the currency pair dived after the release. It could be explained by the fact that while employment growth was disappointing other parts of the report were positive, especially wage growth. Other economic indicators were also playing in favor of the dollar. Nonfarm payrolls disappointed the market as they grew by just […]
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February 52016
Economic Data Helps US Dollar
US dollar is heading higher today, thanks in large part to the latest data releases. With the economic outlook for the United States continuing to improve, some analysts are still predicting another rate hike in March, while other think that the Fed will rate a little longer. Rate hike hopes are still alive for some analysts. The latest data out of the United States shows that the unemployment rate dropped […]
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February 52016
Euro Pulls Back on Profit Taking and Consolidation
Euro has been enjoying quite the rally in recent days, due mostly to dollar weakness and policy misses. However, the 19-nation currency is pulling back a bit right now as Forex traders consolidate their positions and take profits. In the last few days, the euro has surged, and yesterday the currency reached the 1.1200 level against the US dollar. Since then the euro has fallen back below that point, but this […]
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February 52016
Great Britain Pound Extends Losing Streak
The Great Britain pound dropped today, extending its losing streak against the euro and the Japanese yen for the fourth consecutive day. The sterling remained soft after yesterday’s monetary policy meeting of Britain’s central bank that showed unwillingness of policy makers to embark on monetary tightening. The outlook for tighter policy was the major component in the currency’s strength, and without it the pound is very vulnerable. The UK currency was trying to hold its […]
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February 52016
Chinese Yuan a Bit Stronger During Friday’s Trading
The Chinese yuan strengthened against the US dollar today as China’s central bank allowed the currency to appreciate, though gains were rather limited. The People’s Bank of China set the reference rate to 6.5690 per dollar during the current trading session from yesterday’s rate of 6.5777. Analysts predict that the currency would weaken this year, though no massive devaluation is expected. The yuan has fall 1 percent so […]
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February 52016
Australian Dollar Pauses to Decide Where to Go Next
The Australian dollar was not moving in any particular direction at the start of Friday’s trading session. Traders were digesting economic data and the Statement of Monetary Policy released by the Reserve Bank of Australia. Australian Industry Group reported that the construction index fell from 46.8 to 46.3 in January. The reading below 50.0 indicates that the sector is in decline. Seasonally adjusted retail sales demonstrated no change in December. That was a disappointment […]
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