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Day: February 3, 2017
February 32017
Mexican Peso Rises vs. Dollar After US NFP
The Mexican peso rose together with other Latin American currencies against the US dollar after US wage growth disappointed markets. The peso was surprisingly firm lately despite all the negative implications the Donald Trump’s presidency has for Mexico’s economy and currency. The future does not look particularly bright for Mexico after Trump took the office of the US president and pushed such ideas as building a wall between the United States […]
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February 32017
Mexican Peso Rises vs. Dollar After US NFP
The Mexican peso rose together with other Latin American currencies against the US dollar after US wage growth disappointed markets. The peso was surprisingly firm lately despite all the negative implications the Donald Trump’s presidency has for Mexico’s economy and currency. The future does not look particularly bright for Mexico after Trump took the office of the US president and pushed such ideas as building a wall between the United States […]
Read more
February 32017
EUR/USD Edged Higher After Wage Inflation Misses Expectations
EUR/USD was swinging widely immediately after the release of nonfarm payrolls but decided to go higher after all. Apparently, markets preferred to pay more attention to lower-than-expected wage growth rather than to solid employment growth that was above expectations. With factory orders and the ISM non-manufacturing indicator also trailing forecasts, the currency pair went even higher. Nonfarm payrolls rose by 227k last week in January. That […]
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February 32017
British Pound Falls on Weak UK PMI Reading for Service Sector
The British pound dropped against the dollar and the euro on Friday, to extend its yesterdayâs loss after a new reading for the purchasing managersâ index in the UK service sector revealed weak growth. The pound had declined yesterday after the Bank of England kept interest rates unchanged. A mutual survey done by the Chartered Institute of Procurement and Supply and IHS Markit was released earlier today, revealing that the UK service sector had its slowest […]
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February 32017
British Pound Falls on Weak UK PMI Reading for Service Sector
The British pound dropped against the dollar and the euro on Friday, to extend its yesterdayâs loss after a new reading for the purchasing managersâ index in the UK service sector revealed weak growth. The pound had declined yesterday after the Bank of England kept interest rates unchanged. A mutual survey done by the Chartered Institute of Procurement and Supply and IHS Markit was released earlier today, revealing that the UK service sector had its slowest […]
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February 32017
US Dollar Falters Backed by Poor Wage Growth Against Positive Job Growth for January
The US dollar weakened against its main competitors after the release of the ADP non-farm payroll report for January, which reported that job growth for the month of January had exceeded expectations. The greenback was also affected by lower-than-expected figures reported for growth in average hourly earnings. The US dollar lost significant ground against the euro and the Japanese yen, while it gained ground against the British pound. The US dollar index, which tracks […]
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February 32017
US Dollar Falters Backed by Poor Wage Growth Against Positive Job Growth for January
The US dollar weakened against its main competitors after the release of the ADP non-farm payroll report for January, which reported that job growth for the month of January had exceeded expectations. The greenback was also affected by lower-than-expected figures reported for growth in average hourly earnings. The US dollar lost significant ground against the euro and the Japanese yen, while it gained ground against the British pound. The US dollar index, which tracks […]
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February 32017
Monetary Tightening Spurs Appreciation of Chinese Yuan
The Chinese yuan gained on the US dollar today after China’s central bank tightened its monetary policy. The monetary tightening overshadowed the slowdown of growth of the manufacturing sector. The People’s Bank of China raised its short-term interest rates on Thursday. Some analysts speculated that it is a sign that the central bank wants to prevent the currency from weakening too much. The Caixin manufacturing Purchasing Managers’ Index registered a reading of 51.0 […]
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February 32017
Monetary Tightening Spurs Appreciation of Chinese Yuan
The Chinese yuan gained on the US dollar today after China’s central bank tightened its monetary policy. The monetary tightening overshadowed the slowdown of growth of the manufacturing sector. The People’s Bank of China raised its short-term interest rates on Thursday. Some analysts speculated that it is a sign that the central bank wants to prevent the currency from weakening too much. The Caixin manufacturing Purchasing Managers’ Index registered a reading of 51.0 […]
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February 32017
Amazing Trade Data Supports Australian Dollar
The Australian dollar fell against its US peer but was otherwise firm thanks to the amazing trade data released from Australia during the trading session. Australia’s trade balance demonstrated a surplus of A$3.51 billion in December, which was the biggest since 2010. Seasonally adjusted building approvals fell 1.2% in December from November, which was a better reading than the 1.7% drop predicted by analysts. The Australian Industry Group […]
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