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Day: November 16, 2017
November 162017
Canadian Dollar Firm Despite Falling Employment
The Canadian dollar gained even though nation’s employment dropped last month. Other economic reports were good, though. Automatic Data Processing reported that Canadian employment shrank by 5,730 in October from the previous month. ADP usually releases employment data for the United States, and it was the first such report for Canada, therefore it is hard to assess how data from the agency will be impacting markets […]
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November 162017
EUR/USD Remains Little Changed Despite Slew of Economic Reports
EUR/USD settled little changed on Wednesday (though it attempted to rally intraday) despite the large amount of economic reports in the United States. One of the most important of them was the inflation data, which showed that headline inflation slowed last month. Yet underline inflation accelerated a bit from 0.1% to 0.2%. Overall, economic data was mixed, giving no edge to the currency pair. CPI rose 0.1% in October on a seasonally […]
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November 162017
EUR/USD Slips Despite Disappointing US Data
EUR/USD edged a little lower today even as most US economic report were disappointing. The dollar remained under pressure from uncertainty about the planned tax cuts. Initial jobless claims rose from 239k to 249k last week instead of falling to 235k as analysts had predicted. (Event A on the chart.) Import prices rose 0.2% in October after increasing 0.8% in September, missing market expectations of 0.4%. Export prices showed […]
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November 162017
EUR/USD Trades Sideways on Eurozone and US Data
The EUR/USD currency pair was on a downtrend for most of the European session after the release of Eurozone CPI data for October. The pair later rebounded in the early American session after the release of US macro data. The EUR/USD was trading in a 45 point range after hitting a high of 1.1800 early in the European session followed by a steady decline to a daily low of 1.1756 in the mid-European session. Th release of the Eurozone CPI data by Eurostat at 10:00 GMT contributed […]
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November 162017
Aussie Strong Despite Employment & Inflation Data
The Australian dollar gained today even though employment data missed forecasts and the inflation expectations gauge decreased this month. The report from the Australian Bureau of Statistics showed that the number of employed people increased by just 3,700 in October from September. That was far below the forecast value of 17,800 and the previous month’s revised growth by 26,600. Yet on the positive note, the increase was the result of growing full-time employment, which offset […]
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