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Day: January 4, 2018
January 42018
Canadian Dollar Gets Support from Economic Data & Crude Oil
The Canadian dollar rallied against its most-traded peers today (with the exception of the rather strong euro) as Statistics Canada released a very positive macroeconomic report. The rally of crude oil also contributed the currency’s gains. According to the report from Statistics Canada, the Industrial Product Price Index increased 1.4% in November and the Raw Materials Price Index rose 5.5%. Both indices beat expectations, and both benefited from higher prices from […]
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January 42018
EUR/USD Sticks to Gains Following ADP Employment Report
EUR/USD was rising today, and the stellar employment data from Automatic Data Processing was unable to stop that. Some market analysts argued that the reason for that was risk appetite among investors. Others pointed out at the set of solid PMI figures released by Markit today as the reason for the euro’s gains on the dollar. ADP employment rose by 250k from November to December. It was a far bigger growth than 191k […]
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January 42018
British Pound Gains Against US Dollar on Positive UK and US Data
The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar. The GBP/USD currency pair gained over 55 points from a low of 1.3504 to hit a high of 1.3560 during the mid-European session. The release of the Markit/CIPS UK Services […]
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January 42018
Accelerating Expansion of Japanese Manufacturing Fails to Boost Yen
The Japanese yen fell against its most-traded peers during the current trading session despite the solid manufacturing report, which showed that the expansion of the sector was the fastest in several years. The headline Nikkei Japan Manufacturing Purchasing Managers’ Index edged up from 53.6 in November to 54.0 in December according to the final estimate. While the reading was a bit lower than the preliminary reading and the consensus forecast of 54.2, it was still […]
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January 42018
Australian Dollar Mixed Despite Support from Economic Data
The Australian dollar was mixed on Thursday despite very positive macroeconomic data, both from Australia and abroad. News from China was especially good as the services sector was expanding with the fastest pace in several years. The Caixin China General Services PMI jumped from 51.9 in November to 53.9 in December, while economists had expected it to stay about the same. It was the highest level since August 2014. […]
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January 42018
EUR/USD Makes Subdued Recovery on Positive Eurozone PMIs
The EUR/USD currency pair today made a subdued recovery during the early European session after the release of positive Eurozone PMI data. The final December PMIs released by Markit Economics were the main trigger behind the currency pair’s soft rally. The EUR/USD currency pair today gained over 50 points from a daily low of 1.2003 hit during the Asian session to a high of 1.2056 reached during the early European session. The single […]
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