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Day: August 5, 2016
August 52016
Good Nonfarm Payrolls Push EUR/USD Down
EUR/USD was gradually rising at the start of the current trading session but plunged after nonfarm payrolls had demonstrated growth that surpasses economists’ expectations. The news fueled talks about an interest rate hike from the Federal Reserve by the year end, though for now bets from speculators do not favor such an outcome. Nonfarm payrolls rose by 255k in July, exceeding the forecast growth by 180k and the previous month’s revised 192k. […]
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August 52016
Canadian Dollar Plunges as Employment Falls & Trade Deficit Grows
The Canadian dollar tumbled today after Canada’s employment fell unexpectedly and the trade balance deficit showed a surprise increase to a record high. Canadian employers reduced the number of available jobs by 31,200 in July. Forecasters were totally wrong with their promises of an increase by about 10,200. The unemployment rate rose from 6.8% to 6.9%, within expectations. Adding to the woes of the Canadian currency, Canada’s trade balance logged a record trade deficit of $3.6 […]
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August 52016
Dollar Bounces as Non-Farm Payrolls Surprise Positively
The US dollar was moving down during the first half of Friday’s trading session but reversed the losses after the surprisingly positive employment report. US non-farm payrolls climbed 255,000 in July, topping the forecast growth by 180,000 and the previous month’s increase by 292,000. Average hourly earnings grew 0.3%, faster than the 0.2% rate of growth predicted by experts and the June’s 0.1%. The only slightly negative indicator was the unemployment rate that […]
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August 52016
Sterling Recovers Following Plunge on BoE Stimulus
The Great Britain pound is recovering today after yesterday’s drop that followed the announcement of additional stimulus package from the Bank of England. Yesterday, the sterling has plunged as the BoE unwrapped a huge stimulus package that included an interest rate cut and expansion of the asset purchase program. Furthermore, the central bank confirmed likelihood of additional monetary easing in the future. Yet it looks like with the recent aggressive selling the pound has […]
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August 52016
Australian Dollar Rises After RBA Statement & Construction Index
The Australian dollar rose today, gaining on the euro for the fourth consecutive day, following the release of the Monetary Policy Statement from the Reserve Bank of Australian and the construction index from Australian Industry Group. The RBA was rather upbeat about economic growth in its statement, saying: While the prospects for growth in economic activity are positive, there is room for even stronger growth. At the same time, the central bank predicted that inflation would […]
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