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Day: April 7, 2017
April 72017
EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data
The EUR/USD currency pair declined significantly as the euro weakened against the US dollar despite lower-than-expected US non-farm payroll report. The positive German trade balance figures did little to boost the weak euro as the currency pair tested new lows for the month and was on track to close below its opening price this week. The currency pair lost over 70 points at the height of its decline and has been on downward trend for the better […]
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April 72017
EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data
The EUR/USD currency pair declined significantly as the euro weakened against the US dollar despite lower-than-expected US non-farm payroll report. The positive German trade balance figures did little to boost the weak euro as the currency pair tested new lows for the month and was on track to close below its opening price this week. The currency pair lost over 70 points at the height of its decline and has been on downward trend for the better […]
Read more
April 72017
EUR/USD Fails to Keep Gains Despite Sluggish US Employment Growth
US employment demonstrated very underwhelming growth last month. EUR/USD rallied as a result, though surprisingly, the rally was very short-lived. The sluggish employment growth was a nasty surprise considering that the private ADP report released on Wednesday painted a very different picture, showing solid expansion of the labor market. Nonfarm payrolls grew by just 98k in March, a far cry from 174k promised by forecasters. What is more, the February […]
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April 72017
Canadian Dollar Gets Boost from Economic Indicators & Oil Prices
The Canadian dollar rallied against its major peers today thanks to solid macroeconomic data and the rally of crude oil prices. Canadian employment grew by 19,400 in March from February compared to just 5,700 predicted by analysts. The unemployment rate increased from 6.6% to 6.7%, but that was expected. The Ivey Purchasing Managers Index climbed from 55.0 in February to 61.1 in March, beating expectations by a wide margin. The trading environment was […]
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April 72017
Canadian Dollar Gets Boost from Economic Indicators & Oil Prices
The Canadian dollar rallied against its major peers today thanks to solid macroeconomic data and the rally of crude oil prices. Canadian employment grew by 19,400 in March from February compared to just 5,700 predicted by analysts. The unemployment rate increased from 6.6% to 6.7%, but that was expected. The Ivey Purchasing Managers Index climbed from 55.0 in February to 61.1 in March, beating expectations by a wide margin. The trading environment was […]
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April 72017
US Dollar Unfazed by Abysmal Nonfarm Payrolls
US nonfarm payrolls released today were extremely disappointing with meager employment growth. The dollar tumbled immediately after the report, as one could expect, but the losses were very short-lived, surprisingly enough. Currently, the greenback trades rather strong. According to the report, US employers added just 98,000 jobs in March instead of 175,000 promised by forecasters. At the same time, the unemployment rate fell unexpectedly from 4.7% to 4.5% — the lowest […]
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April 72017
US Dollar Unfazed by Abysmal Nonfarm Payrolls
US nonfarm payrolls released today were extremely disappointing with meager employment growth. The dollar tumbled immediately after the report, as one could expect, but the losses were very short-lived, surprisingly enough. Currently, the greenback trades rather strong. According to the report, US employers added just 98,000 jobs in March instead of 175,000 promised by forecasters. At the same time, the unemployment rate fell unexpectedly from 4.7% to 4.5% — the lowest […]
Read more
April 72017
UK Economic Reports Fail to Impress, Sterling Under Pressure
The Great Britain pound dropped today as basically all reports released from the United Kingdom during the current trading session were bad and missed market expectations. The Halifax House Price Index did not change in March from February even though analysts had promised a small increase by 0.2%. Manufacturing production fell 0.1% and industrial production shrank by 0.7% in February from the previous month while markets were expecting […]
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April 72017
UK Economic Reports Fail to Impress, Sterling Under Pressure
The Great Britain pound dropped today as basically all reports released from the United Kingdom during the current trading session were bad and missed market expectations. The Halifax House Price Index did not change in March from February even though analysts had promised a small increase by 0.2%. Manufacturing production fell 0.1% and industrial production shrank by 0.7% in February from the previous month while markets were expecting […]
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April 72017
Yen Climbs After USA Attacks Syrian Military Base
The Japanese yen climbed today as US President Donald Trump authorized military strike on the Syrian airbase. The USA claimed that the strike is a response to the chemical weapon attack that killed dozens of civilians earlier this week and for which the United States blamed Syria and its President Bashar al-Assad. That will strain US relationships with Russia and China as those countries back Assad. As it often happens, the yen gained […]
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