Day: August 2, 2017

August 2
2017

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 2
2017

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 2
2017

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 2
2017

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 2
2017

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 2
2017

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 Managers’ 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 2
2017

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 Managers’ 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 2
2017

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 2
2017

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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