Day: April 8, 2016

April 8
2016

Canadian Dollar Gains on Crude Oil Rally & Employment Data

The Canadian dollar rallied today, propelled higher by the amazing employment data and the rally of crude oil. The falling housing starts were unable to deter the currency from rising. Canada’s employment increased by 40,600 in March from February, exceeding analysts’ predictions by about four times. What is even better, the vast majority of the jobs were full-time. The unemployment rate fell from 7.3% to 7.1% unexpectedly. Meanwhile, housing starts declined to 204,251 […]

Read more
April 8
2016

Sterling Trims Gains as UK Data Weighs, Rebounds

Macroeconomic indicators released from the United Kingdom today were bad across the board. This did not prevent the Great Britain pound from rising against the US dollar and the euro (though the currency slid against the Japanese yen) but made the sterling trim its gains. Currently, it looks like the sterling is going to regain its upward momentum. Manufacturing production slumped 1.1% in February from the previous month, […]

Read more
April 8
2016

Yen Weaker After Aso Suggests Intervention

The Japanese yen eased today from the multi-year highs reached yesterday. The currency weakened after comments of Finance Minister Taro Aso that suggested a possibility of an intervention. As of now, the yen is moving back up but remains below the opening level. Aso made remarks that were interpreted by the market as an intervention talks. Yet experts reminded that the Group of Twenty agreed to avoid devaluing their currencies directly, meaning that […]

Read more