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Day: December 1, 2017
December 12017
Canadian Dollar Rises Sharply on Booming Employment, Rising GDP
The Canadian dollar jumped sharply today following the release of the stellar employment data in Canada. The better-than-expected GDP print did not hurt the currency either. Employment in Canada rose by a whopping 79,500 in November from October — a far bigger increase than 10,200 promised by analysts and 35,300 registered in October. Moreover, the unemployment rate unexpectedly dropped from 6.3% to 5.9% — the lowest level since February 2008. Meanwhile, gross domestic product showed […]
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December 12017
Dollar Loses Ground as Flynn Prepares to Testify Against Trump
The US dollar fell against most-traded currencies (though not the Great Britain pound) today as US politics took the center stage yet again, distracting market participants from other fundamental factors that could have influenced the currency. US economic data was mixed today, with slowing manufacturing growth but unexpectedly fast growth of the construction sector. But traders paid not attention to that after the report […]
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December 12017
EUR/USD Rebounds Sharply as Flynn Prepares to Testify Against Trump
EUR/USD was falling throughout the current trading session but bounced sharply after the report that US national security adviser Michael Flynn is prepared to testify that President Donald Trump directed him to make a contact with Russians. The news drew investors’ attention away from the question of the US tax reform and today’s US economic data. Markit manufacturing PMI slipped from 54.6 in October to 53.9 in November […]
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December 12017
Euro Loses Upward Momentum Despite Positive Manufacturing PMIs
The euro today rallied to new highs in the early European session boosted by the release of the positive Markit Italy Manufacturing PMI report. However, the single currency lost its upward momentum soon thereafter to print new daily lows after the release of the Markit Eurozone Manufacturing PMI, which was also above forecasts. The EUR/USD currency pair hit a high of 1.1940 in the early European session before retracing all its gains to hit […]
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December 12017
Japanese Yen Gets Support from Good Domestic Reports
The Japanese yen rose a bit against its major peers today thanks to the supportive macroeconomic reports released in Japan during the current trading session. Japan’s core Consumer Price Index rose 0.8% in October from a year ago, while the Tokyo core CPI increased 0.6% in November. Both indicator were matching forecast exactly. The unemployment rate was stable at 2.8%, also within expectations. Meanwhile, household spending and capital […]
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December 12017
New Zealand Dollar Carves out Gains, Defying Disappointing Reports
The New Zealand dollar managed to carve out some gains today, even though macroeconomic data from New Zealand and New Zealand’s major trading partner, China, was not particularly good. The New Zealand’s merchandise terms of trade rose 0.7% in the September quarter of this year from the previous three months, two times slower than the 1.4% rate of growth registered in the preceding quarter. Analysts had expected the indicator […]
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