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Day: July 8, 2016
July 82016
Yen Goes Higher, Making Japanese Policy Makers Unhappy
The Japanese yen rallied today despite unfavorable macroeconomic data and warnings from Japan’s officials about possible interventions in order to stem the currency’s rally. Japan’s current account surplus shrank to â¥â1.41 trillion in May from â¥â1.63 trillion the month before. Yet this did not prevent the currency from rising. The rally is frustrating for Japanese policy makers who want to see the yen weaker, meaning that they may […]
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July 82016
EUR/USD Stays Not Far from Opening After Nonfarm Payrolls
Nonfarm payrolls showed robust employment growth but other parts of the report were disappointing. EUR/USD demonstrated an erratic reaction to the data, sinking after the release but bouncing almost immediately afterwards. Currently, the currency pair trades below the opening level but the drop is very small. Nonfarm payrolls rose by 287k in June, exceeding market expectations of 175k by a wide margin. May’s already meager increase by 38k was revised […]
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July 82016
Brazilian Real Jumps vs. US Dollar
The Brazilian real jumped as much as 2% versus the US dollar today as Brazil’s central bank refrained from intervening in markets to support the currency while the government showed willingness to embark on fiscal austerity. Investors were concerned that President Michel Temer might avoid austerity measures to gain support from the divided Congress. Yet it look’s like that is not the case as Temer announced that he is going […]
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July 82016
Canadian Dollar Settles Lower After Jobs Data
The Canadian dollar fell today after the release of jobs data that showed an unexpected drop of employment. The drop was fairly limited, though the currency reached a multi-year low versus the Japanese yen. The number of employed people in Canada fell by 700 in June following the increase by 13,800 in May. Market participants were counting on an increase by 5,500. At the same time, the unemployment rate ticked down by 0.1 percentage point to 7.8% while analysts had […]
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July 82016
Non-Farm Payrolls Fail to Boost Dollar
US non-farm payrolls were positive at the first glance, but it was not enough to boost the US dollar. On closer inspection, the employment report was not that good, giving no reason to believe that the economic conditions are solid enough to warrant withdrawal of monetary stimulus. Non-farm payrolls demonstrated growth by 287,000 in June which was far above the analysts’ median forecast of 175,000. The dollar had surged at first, […]
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