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Day: March 4, 2016
March 42016
EUR/USD Dips After NFP But Only for Short While
EUR/USD dipped after the release of solid US nonfarm payrolls as to be expected. What was unexpected was the quick and strong bounce of the currency pair immediately after the dip. Whatever was the reason for such behavior, the dollar showed the similar performance in other currency pairs — rallying after the release of employment data but sinking quickly afterwards. Nonfarm payrolls demonstrated strong growth by 242k in February. The growth has exceeded both market […]
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March 42016
Canadian Dollar Finds Support in Woes of US Rival
The Canadian dollar bounced after the initial drop today. While domestic fundamentals were somewhat beneficial, the main reason for the bounce was the decline of the US dollar. The positive side of Canada’s economic data released today came in the form of the trade balance deficit that increased just marginally in January while experts had predicted a much bigger increase. The negative part of the story came from the Ivey PMI that dropped in February much […]
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March 42016
Non-Farm Payrolls Fail to Boost US Dollar
The US dollar was mostly weaker today (though it gained on the Japanese yen) despite the release of seemingly solid employment data that should have boosted the currency. The dollar showed a confusing reaction to non-farm payrolls, rising at first but falling back very quickly. It might look surprising that the greenback did not welcome the strong jobs growth. But as it often happens, the devil is in the details. The problem […]
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March 42016
Euro Bounces a Little, But Risks Remain
Euro is seeing some gains today, surging ahead, even though the US just posted solid jobs report for February and there are still downside risks to the 19-nation currency. Euro is higher today, even though it seems counterintuitive. The United States just released its February jobs report, showing that employment is surging. As a result, many are once again considering the idea that the Fed […]
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March 42016
Loonie Falls Back After Yesterday’s Gains
Canadian dollar saw some measure of recovery yesterday, thanks in large part to recovering oil prices. Today the loonie is struggling again, falling as Forex traders consider the future of the Canadian economy, and as some engage in profit taking. Oil prices have been heading a little bit higher in recent weeks. Since the Canadian dollar’s 13-low in January, the currency has seen a fairly decent gain, especially against the US dollar. It’s […]
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