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Day: June 3, 2016
June 32016
Aussie Rises vs. Greenback, Little Changed vs. Other Majors
The Australian dollar climbed against its US peer together with other currencies today but moved just a little versus such majors as the euro and the Japanese yen. The surprisingly poor employment report from the United States sent the greenback down against its rivals. The Aussie was not an exception. Domestic data was also helpful with the services PMI rising in May. Yet all the confusing on the market caused by the US […]
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June 32016
EUR/USD Up 1.6% After NFP Shock Market
EUR/USD surged today after the release of US nonfarm payrolls. The data was not just worse than expected, it was simply awful, showing the smallest employment growth since the late 2010. Most other indicators released during the trading session were not that bad, but they were overshadowed by the abysmal report. As a result of that, the dollar was weak not just against the euro but versus other […]
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June 32016
South Africa Keeps Investment Grade, USD/ZAR Dips
The South African rand climbed more than 3% against the US dollar today as Standard & Poor’s kept the nation’s credit rating at an investment grade. The terrible employment data from the United States also helped the rand to gain on the greenback. S&P maintained South Africa’s sovereign rating at BBB-, albeit with negative outlook. Ahead of the announcement, many economists had been concerned that the agency would slash the rating. The rand […]
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June 32016
CAD Trades Mixed Today, But Weakness is Expected
Canadian dollar is trading mixed today against its major counterparts. However, some analysts and Forex traders think that the loonie will experience near-term weakness on economic data. Today, the loonie is moving higher against the US dollar as well as the UK pound. Disappointing news out of the United States with regard to jobs data is resulting in a dollar crash that is benefiting the loonie. Against the sterling, the Canadian […]
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June 32016
NFP Beyond Awful — Dollar Crashes
US non-farm payrolls released today were worse than abysmal, coming out weakest since 2010. Unsurprisingly, the US dollar crashed hard after the extremely negative data. Non-farm payrolls grew just marginally by 38,000 in May. Forecasts have missed the mark completely, promising an increase by 159,000. Moreover, the previous month’s gain was revised negatively from 160,000 to 123,000. Not all parts of the data were bad as the unemployment […]
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