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Day: July 7, 2016
July 72016
EUR/USD Goes Lower After US Employment Data
EUR/USD went lower today after the release of jobless claims and ADP employment data. Both reports were good, making market participants optimistic ahead of tomorrow’s nonfarm payrolls. ADP employment rose by 172k in June after growing by 168k in May. Experts had predicted slowdown to 158k. (Event A on the chart.) Initial jobless claims dropped to 254k last week from the previous week’s revised level of 270k. Analysts were counting […]
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July 72016
Swiss Franc Soft Despite Positive CPI
The Swiss franc was soft today even though inflation data released from Switzerland during the current trading session beat forecasts. The likely reason for the poor performance was the shift in the market sentiment. The Swiss Consumer Price Index rose 0.1% in June, at the same rate as in May. Analysts had predicted the indicator to stay flat. Nevertheless, the Swissie fell as markets calmed down after the Brexit, the sentiment became less negative, and Britain’s […]
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July 72016
S&P Cuts Australia’s Credit Rating Outlook
The Australian dollar plunged today after Standard & Poor’s had cut the country’s credit rating outlook. The Aussie has bounced later and is now trading close to its opening level. S&P affirmed Australia’s long-term credit grade at AAA but changed the outlook to negative. The agency cited the following reasons for the decision: The negative outlook on Australia reflects our view that without the implementation of more forceful fiscal policy decisions, […]
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July 72016
US Dollar Mixed as Good Data Countered by Fed Minutes
The US dollar was mixed during early Thursday’s trading. The currency rose versus the euro, fell against the Japanese yen, and was flat versus the Great Britain pound. Wednesday’s fundamentals were mixed for the dollar. On one hand, US economic data was good, at least the services sector. On the other, the minutes of the Federal Reserve latest policy meeting showed that the Fed is willing to wait to see the impact of the Brexit on the economy: […]
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July 72016
Falling Canadian Dollar Gets Help from Crude Oil
The Canadian dollar was falling on Wednesday due to domestic macroeconomic data and the general negative sentiment among Forex market participants. The currency managed to rebound with the help of rising prices for crude oil, though, and is trading not far from the opening level at the start of Thursday’s session. Canada’s trade balance logged a deficit of C$3.3 billion in May. While it was basically unchanged from the April’s level, the reading was worse […]
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