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Day: April 5, 2017
April 52017
EUR/USD Bounces After FOMC Releases Minutes of Policy Meeting
EUR/USD was falling during the Wednesday’s trading session but halted its decline after the Federal Open Market Committee released minutes of its latest policy meeting. The currency pair swung back and forth wildly immediately after the release but decided to go up in the end. As for other news from the United States, the employment market looked strong while the service sector disappointed. ADP employment grew by 263k on March, much […]
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April 52017
EUR/USD Weakens as Uncertainty Looms over French Elections
The EUR/USD currency pair declined today following the uncertainty surrounding the French presidential election after the second election debate where Marine Le Pen gained against Emmanuel Macron. The pair also traded much lower after the release of the US ADP Employment Change report, which beat expectations and significantly boosted the greenback. The currency pair had lost over 30 points at the height of its decline and has been trading in negative […]
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April 52017
EUR/USD Weakens as Uncertainty Looms over French Elections
The EUR/USD currency pair declined today following the uncertainty surrounding the French presidential election after the second election debate where Marine Le Pen gained against Emmanuel Macron. The pair also traded much lower after the release of the US ADP Employment Change report, which beat expectations and significantly boosted the greenback. The currency pair had lost over 30 points at the height of its decline and has been trading in negative […]
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April 52017
US Dollar Climbs Following Positive ADP Employment Data
The US dollar moved higher against most of its main counterparts on Wednesday, following fresh data today that showed private sector employment surged in March. Employers in the United States hired more workers than expected, which overshadowed the effect of a disappointing reading for an index that tracks business environment. The ADP Research Institute said earlier today that non-farm private sector employment gained 263,000 jobs in March, which […]
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April 52017
US Dollar Climbs Following Positive ADP Employment Data
The US dollar moved higher against most of its main counterparts on Wednesday, following fresh data today that showed private sector employment surged in March. Employers in the United States hired more workers than expected, which overshadowed the effect of a disappointing reading for an index that tracks business environment. The ADP Research Institute said earlier today that non-farm private sector employment gained 263,000 jobs in March, which […]
Read more
April 52017
Rand Falls as Political Turmoil in South Africa Intensifies
Political turmoil in South Africa persists, and it continued to hurt the rand, which dropped more than 1% on Wednesday. South African President Jacob Zuma sacked Finance Minister Pravin Gordhan last week, a move that cost South Africa its investment grade. The decision was criticized not just by international markets, but politicians in the country itself, resulting in calls for the President to resign. Yet the ruling African National Congress […]
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April 52017
Rand Falls as Political Turmoil in South Africa Intensifies
Political turmoil in South Africa persists, and it continued to hurt the rand, which dropped more than 1% on Wednesday. South African President Jacob Zuma sacked Finance Minister Pravin Gordhan last week, a move that cost South Africa its investment grade. The decision was criticized not just by international markets, but politicians in the country itself, resulting in calls for the President to resign. Yet the ruling African National Congress […]
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April 52017
Accelerating Growth of UK Service Sector Helps Sterling
The UK service sector surprised analysts by growing much faster than they have anticipated. That helped the Great Britain pound to gain on its most-traded peers during the Wednesday’s trading session. The seasonally adjusted Markit/CIPS Services PMI jumped from 53.3 in February to 55.0 in March. It was a noticeably higher reading than 53.5 predicted by analysts. While indexes for other sectors released earlier this week were not […]
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April 52017
Accelerating Growth of UK Service Sector Helps Sterling
The UK service sector surprised analysts by growing much faster than they have anticipated. That helped the Great Britain pound to gain on its most-traded peers during the Wednesday’s trading session. The seasonally adjusted Markit/CIPS Services PMI jumped from 53.3 in February to 55.0 in March. It was a noticeably higher reading than 53.5 predicted by analysts. While indexes for other sectors released earlier this week were not […]
Read more