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Day: September 2, 2016
September 22016
EUR/USD Fails to Sustain Rally
EUR/USD had attempted to rally after the release of poor nonfarm payrolls but failed and is now trading below the opening level. NFP were disappointing on all fronts, be it employment growth, the unemployment rate, or wage inflation. The poor data reduces chances for a soon interest rate hike significantly. Nonfarm payrolls grew by just 151k in August, markedly below market expectations of 180k and the previous month’s revised gain of 275k […]
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September 22016
Canadian Dollar Finds Support in Domestic Data & Rally of Crude Oil
The Canadian dollar jumped against its counterparts during Friday’s trading, supported by the rally of crude oil prices and Canada’s positive macroeconomic data. Disappointing US employment data had a big impact on the market. It not only helped the Canadian currency directly, allowing the loonie to outperform the greenback, but also provided indirect support by boosting prices for crude oil. The Canadian dollar also get support from Canada’s economic indicators. […]
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September 22016
Dollar Bounces After Dropping on NFP
The US dollar recovered from earlier losses that followed disappointing non-farm payrolls. The bounce was a result of persisting speculations about the possibility of an interest rate hike this year. For whole week, traders were waiting for US employment data, thinking that NFP would support the case of monetary tightening. Yet the actual report proved to be disappointing as all important parts missed expectations. Unsurprisingly, that hurt the dollar. What […]
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September 22016
Yen Goes Down, Economic Data Doesn’t Support
The Japanese yen weakened a bit today even though economic data released from Japan was relatively good and should have supported the currency. The seasonally adjusted Consumer Confidence Index was up from 41.3 to 42.0 in August, exceeding the predicted figure of 41.6. Monetary base decreased from 24.7% to 24.2% last month, yet it was above the analysts’ expectations of 23.1%. Despite all of that, the yen fell as traders’ […]
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September 22016
Pound Little Changed After UK Construction PMI Improves
Today, yet another macroeconomic indicator added to evidences of an improving economy in the United Kingdom. Unlike yesterday though, the Great Britain pound demonstrated anemic reaction to positive news. The seasonally adjusted Markit/CIPS UK Construction Purchasing Managersâ Index climbed to 49.2 in August from the multi-year low of 45.9 posted in July, though remained in the contraction territory. Yet the sterling’s reaction to the report was muted, unlike yesterday when the currency rallied on the manufacturing […]
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