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Day: November 30, 2016
November 302016
EUR/USD Falls After Wednesday’s Economic Data from USA
EUR/USD fell today after the release of US economic data. While some indicators trailed expectations, the data was good for the most part. The most notable report was private employment data from Automatic Data Processing, which turned out to be much better than forecasts. ADP employment demonstrated growth by 216k in November, which far exceeded the forecast increase by 161k and the previous month’s 119k (revised down from […]
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November 302016
Canadian Dollar Surges Against Euro Following OPEC’s Output Cut
The Canadian dollar rose against the euro on Wednesday, as a surge in oil prices supported the currency of the oil exporting nation. The Organization of the Petroleum Exporting Countries concluded a meeting in Vienna today, which was closely watched by traders to look for signs of a possible agreement to cut production. The organization announced that a deal was reached between its member countries. According to this deal, which is the first since 2008, OPECâs collective production will […]
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November 302016
Canadian Dollar Surges Against Euro Following OPEC’s Output Cut
The Canadian dollar rose against the euro on Wednesday, as a surge in oil prices supported the currency of the oil exporting nation. The Organization of the Petroleum Exporting Countries concluded a meeting in Vienna today, which was closely watched by traders to look for signs of a possible agreement to cut production. The organization announced that a deal was reached between its member countries. According to this deal, which is the first since 2008, OPECâs collective production will […]
Read more
November 302016
Dollar Sharply Gains as US Data Releases Lift It Higher
The dollar rose higher against other major currencies on Wednesdayâs trading session. The US currencyâs gains came as a stack of data releases in the United States and news of a highly anticipated agreement to cut oil production lifted investorsâ optimism today. The US Automatic Data Processingâs report for national employment said that non-farm private sector employment rose by 216,000 in November, from 147,000 in October. The data surpassed expectations of an increase by 165,000. At the same […]
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November 302016
Dollar Sharply Gains as US Data Releases Lift It Higher
The dollar rose higher against other major currencies on Wednesdayâs trading session. The US currencyâs gains came as a stack of data releases in the United States and news of a highly anticipated agreement to cut oil production lifted investorsâ optimism today. The US Automatic Data Processingâs report for national employment said that non-farm private sector employment rose by 216,000 in November, from 147,000 in October. The data surpassed expectations of an increase by 165,000. At the same […]
Read more
November 302016
New Zealand Dollar Trims Gains Following Earlier Rally
The New Zealand dollar rose today, though trimmed its gains versus the US dollar and the euro by now. The ANZ business confidence fell from 24.5 to 20.5 in November, but the report was not pessimistic, saying: The economy is still riding the wave: the level of firmsâ own activity and profit expectations, together with employment and investment intentions, all flag strong growth. The tide is still out when it […]
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November 302016
New Zealand Dollar Trims Gains Following Earlier Rally
The New Zealand dollar rose today, though trimmed its gains versus the US dollar and the euro by now. The ANZ business confidence fell from 24.5 to 20.5 in November, but the report was not pessimistic, saying: The economy is still riding the wave: the level of firmsâ own activity and profit expectations, together with employment and investment intentions, all flag strong growth. The tide is still out when it […]
Read more
November 302016
Polish Zloty Weakens Slightly as Growth Forecast Revised Lower
The Polish zloty fell a bit today after the outlook for this year’s economic growth in Poland was revised lower. Polish Finance Minister Mateusz Morawiecki stated that Poland’s economy is likely to grow between 2.5% to 3% this year. That is compared to the previous forecast of 3.4%. The Organization for Economic Co-operation and Development predicted growth of 2.6% in 2016 and around 3% in 2017–18 for Poland. USD/PLN ticked up 0.03% to 4.1665 […]
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November 302016
Polish Zloty Weakens Slightly as Growth Forecast Revised Lower
The Polish zloty fell a bit today after the outlook for this year’s economic growth in Poland was revised lower. Polish Finance Minister Mateusz Morawiecki stated that Poland’s economy is likely to grow between 2.5% to 3% this year. That is compared to the previous forecast of 3.4%. The Organization for Economic Co-operation and Development predicted growth of 2.6% in 2016 and around 3% in 2017–18 for Poland. USD/PLN ticked up 0.03% to 4.1665 […]
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