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Day: August 3, 2016
August 32016
EUR/USD Drops After ADP Report
EUR/USD was moving down today, and extended its decline after rather positive ADP employment data. Now, traders eye Friday’s nonfarm payrolls, which are expected to show about the same growth as in the ADP report. Meanwhile, speculations about future steps of the Federal Reserve continue to dominate the Forex market as speculators are arguing whether the US central bank is ready to resume its monetary tightening. ADP employment […]
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August 32016
Loonie Continues to Recover From Last Week’s Plunge
Canadian dollar is still recovering from last week’s rather large plunge against major currencies. Loonie is higher today against its major counterparts, even though there are still concerns about the Canadian economy and some commodities are still struggling. Last week, the Canadian dollar dropped quite a bit. Concerns about the state of the economy, and disappointing advance data out of the United States weighed on the loonie. […]
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August 32016
Yen Halts Rally
The Japanese yen fell against the US dollar and the Great Britain pound today following yesterday’s big jump. Yesterday, the yen had rallied as markets apparently felt that the ¥28 trillion stimulus package announced by the Bank of Japan was not enough to bolster the Japanese economy. Today, the BoJ released minutes of its June meeting, which showed doubts among policy makers regarding the effects of negative interest rates. Japan’s currency […]
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August 32016
Great Britain Pound Near Opening After Poor Services PMI
The Great Britain pound was falling today and continued to decline after the poor report about the UK services sector. Yet now the currency has reversed its movement and trades close to the opening level. The Markit/CIPS UK Services PMI fell from 52.3 in June to 47.4 in July according to the revised estimate — the same as the preliminary report and matching analysts’ expectations. The reading was the lowest since March 2009. The data supported the view that […]
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