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Day: August 2, 2017
August 22017
EUR/USD at New Highs as US Employment Misses Expectations
EUR/USD rallied to news highs today as US employment data trailed forecasts, adding to concerns that the economic situation does not warrant additional monetary tightening from the Federal Reserve. The really important piece of data, though, will be Friday’s nonfarm payrolls, which does not always correlate with the private ADP data. ADP employment rose by 178k in July, missing the analysts’ average estimate of 187k. On a positive note, […]
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August 22017
US Dollar Falls Against Euro as ADP Employment Data Misses Estimates
The US dollar fell against the euro on Wednesday, as uncertainty between traders about the labor market increased following disappointing employment data today. The greenback also declined against a basket of major currencies amid lower expectations for the official job report on Friday. The ADP Research Institute, which releases a monthly estimate for job gains ahead of government data, said in a report published earlier today that the US private sector hired 178,000 […]
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August 22017
US Dollar Falls Against Euro as ADP Employment Data Misses Estimates
The US dollar fell against the euro on Wednesday, as uncertainty between traders about the labor market increased following disappointing employment data today. The greenback also declined against a basket of major currencies amid lower expectations for the official job report on Friday. The ADP Research Institute, which releases a monthly estimate for job gains ahead of government data, said in a report published earlier today that the US private sector hired 178,000 […]
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August 22017
Euro Gains Against US Dollar on Positive EU PPI and Weak US ADP Reports
The euro today rallied higher against the US dollar after the release of positive EU producer price index data by Eurostat. The EUR/USD pair rallied higher after the release of the US ADP employment report, which was below expectations. The EUR/USD currency pair rose by about 70 points at the height of its rally as the euro gained against the US dollar. The currency pair hit a yearly high of 1.1868, then retraced some of its […]
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August 22017
Euro Gains Against US Dollar on Positive EU PPI and Weak US ADP Reports
The euro today rallied higher against the US dollar after the release of positive EU producer price index data by Eurostat. The EUR/USD pair rallied higher after the release of the US ADP employment report, which was below expectations. The EUR/USD currency pair rose by about 70 points at the height of its rally as the euro gained against the US dollar. The currency pair hit a yearly high of 1.1868, then retraced some of its […]
Read more
August 22017
Sterling Rallies Ahead of BoE, Ignores Falling Construction Index
The Great Britain pound rallied today against most of its major rivals even as the construction sector was expanding at the slowest pace in nearly a year. The IHS Markit/CIPS UK Construction Purchasing Managersâ Index dropped from 54.8 in June to 51.9 in July — the lowest level since August 2016 and far below analysts’ predictions. The data followed yesterday’s report that showed an increase of the IHS Markit/CIPS UK Manufacturing PMI from 54.2 […]
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August 22017
Sterling Rallies Ahead of BoE, Ignores Falling Construction Index
The Great Britain pound rallied today against most of its major rivals even as the construction sector was expanding at the slowest pace in nearly a year. The IHS Markit/CIPS UK Construction Purchasing Managersâ Index dropped from 54.8 in June to 51.9 in July — the lowest level since August 2016 and far below analysts’ predictions. The data followed yesterday’s report that showed an increase of the IHS Markit/CIPS UK Manufacturing PMI from 54.2 […]
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August 22017
NZ Dollar Driven Down by Employment Data
The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen. New Zealand employment dropped 0.2% in the June quarter of this year from the previous three months, whereas analysts had expected a substantial increase by 0.7%. At the same time, the unemployment rate decreased from 4.9% to 4.8%, in line with expectations. The Labor Cost […]
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August 22017
NZ Dollar Driven Down by Employment Data
The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen. New Zealand employment dropped 0.2% in the June quarter of this year from the previous three months, whereas analysts had expected a substantial increase by 0.7%. At the same time, the unemployment rate decreased from 4.9% to 4.8%, in line with expectations. The Labor Cost […]
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