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Day: June 2, 2017
June 22017
GBP/USD Rebounds After NFP, Pound Stays Weak Otherwise
The Great Britain pound rebounded versus the US dollar following the release of underwhelming nonfarm payrolls. The sterling had no such luck against other peers, and in fact it dropped even further amid political uncertainty. As to be expected, the pound was able to recover versus the dollar after unexpectedly poor employment data hurt the greenback. Unfortunately for the sterling, the same event made other major currencies more attractive, driving them […]
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June 22017
GBP/USD Rebounds After NFP, Pound Stays Weak Otherwise
The Great Britain pound rebounded versus the US dollar following the release of underwhelming nonfarm payrolls. The sterling had no such luck against other peers, and in fact it dropped even further amid political uncertainty. As to be expected, the pound was able to recover versus the dollar after unexpectedly poor employment data hurt the greenback. Unfortunately for the sterling, the same event made other major currencies more attractive, driving them […]
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June 22017
Nonfarm Payrolls Miss Expectations, Reviving EUR/USD
EUR/USD was moving gradually down today but jumped sharply after the release of nonfarm payrolls. Market participants were expecting a robust growth of US employment, but the reality turned out to be rather different. The actual figure was not disastrous, but it was far below expectations. The trade balance report was not good either, adding to the reasons for the dollar to go down versus the euro. Nonfarm payrolls […]
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June 22017
Canadian Dollar Rallies Against US Dollar on Poor NFP Data
The Canadian dollar today rallied against its US counterpart triggered by the disappointing US non-farm payroll data released by the Bureau of Labor Statistics. The positive Canadian labor productivity data and the trade deficit figures released by Statistics Canada boosted the Loonie against the greenback. The currency pair lose over 60 points at the height of its decline although it retraced some of its loses severally before continuing on a downward trend. The Canadian dollar […]
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June 22017
Canadian Dollar Rallies Against US Dollar on Poor NFP Data
The Canadian dollar today rallied against its US counterpart triggered by the disappointing US non-farm payroll data released by the Bureau of Labor Statistics. The positive Canadian labor productivity data and the trade deficit figures released by Statistics Canada boosted the Loonie against the greenback. The currency pair lose over 60 points at the height of its decline although it retraced some of its loses severally before continuing on a downward trend. The Canadian dollar […]
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June 22017
EUR/USD Rallies to New Highs on Disappointing NFP Report
The EUR/USD currency pair today rallied to new highs during the American session after the release of disappointing non-farm payroll data by the Bureau of Labor Statistics. The pair’s rally was also influenced by other labor market reports such as the change in manufacturing payrolls, and the weak average hourly earnings. The currency pair gained over 70 points in a span of an hour after the release of the non-farm payroll report. The euro gained against the US dollar given […]
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June 22017
EUR/USD Rallies to New Highs on Disappointing NFP Report
The EUR/USD currency pair today rallied to new highs during the American session after the release of disappointing non-farm payroll data by the Bureau of Labor Statistics. The pair’s rally was also influenced by other labor market reports such as the change in manufacturing payrolls, and the weak average hourly earnings. The currency pair gained over 70 points in a span of an hour after the release of the non-farm payroll report. The euro gained against the US dollar given […]
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June 22017
Australian Dollar Gains, Fighting Off Adverse Fundamentals
The Australian dollar gained today, and that was surprising as fundamentals did not look good for riskier commodity-related currencies. Crude oil slumped more than 2% today, and falling oil prices usually have an adverse impact on commodity currencies, like the Aussie. Additionally, traders anticipate today’s US nonfarm payrolls to show a solid gain of employment, and that should have propelled the US dollar higher at the expense of other currencies, especially […]
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June 22017
Australian Dollar Gains, Fighting Off Adverse Fundamentals
The Australian dollar gained today, and that was surprising as fundamentals did not look good for riskier commodity-related currencies. Crude oil slumped more than 2% today, and falling oil prices usually have an adverse impact on commodity currencies, like the Aussie. Additionally, traders anticipate today’s US nonfarm payrolls to show a solid gain of employment, and that should have propelled the US dollar higher at the expense of other currencies, especially […]
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June 22017
Pound Drops, Ignoring Positive Construction Data
The Great Britain pound dropped today even though macroeconomic data released in the United Kingdom over the current sessions was good. The IHS Markit/CIPS UK Construction PMI climbed from 53.1 in April to 56.0 in May, which was a far better result than a drop to 52.7 predicted by analysts. The report followed yesterday’s release of the IHS Markit/CIPS UK Manufacturing PMI, which showed a small decrease to 56.7 in May from the April’s […]
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