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Day: September 1, 2016
September 12016
EUR/USD Bounces as ISM Manufacturing PMI Misses Expectations
EUR/USD was gradually moving lower during the Thursday’s trading session but rebounded sharply after the manufacturing index released by Institute for Supply Management failed to meet market expectations and surprised economists by falling into the contraction territory. Construction spending missed forecasts as well, adding pressure on the US currency. Initial jobless claims were at the seasonally adjusted level of 263k last week. That is compared to the previous week’s value of 261k […]
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September 12016
Forex Daily Volume Down to $5.1 Trillion in 2016 from $5.4 in 2013
Today, the Basel-basedBank for International Settlements released its 2016 Triennial Central Bank Survey of FX and over-the-counter (OTC) derivatives markets. It is based on the survey conducted in April this year. The main report is rather short (23 pages) and contains some interesting data. The most important stuff is listed here: Overall trading volume is down from $5.4 to $5.1 trillion per day. The size of spot market […]
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September 12016
UK Pound Climbs with Help from Manufacturing
The Great Britain pound rallied today, boosted by the surprisingly strong manufacturing sector, reaching the highest level in about a month against some of its major rivals. The seasonally adjusted Markit/CIPS Purchasing Managersâ Index jumped from the 41-month low of 48.3 logged in July to 53.3 in August. The actual reading was far above 49.1 estimated by specialists ahead of the report. The data added to the slew of robust economic indicators that suggested limited impact […]
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September 12016
Australian Dollar Higher Even Without Support from Economic Data
The Australian dollar rallied against its major peers during the first trading session of September even though macroeconomic data (both domestic and overseas) was not particularly supportive for the currency. Data from China, Australia’s main trading partner, was mixed. The official report showed that Chinese manufacturing returned to growth in August. Yet the private data revealed that the manufacturing sector stalled as the Caixin Purchasing Managers’ Index retreated […]
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