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Day: April 6, 2018
April 62018
Canadian Dollar Falls Even As Employment Grows
The Canadian dollar fell on Friday despite better-than-expected employment data. Other economic reports were not that good, though, and there were other fundamental factors that might have caused the decline. Canada’s employment grew by 32,300 jobs in March, beating the consensus forecast of a 20,100 increase. The unemployment rate remained at 5.8% and its average level in the first quarter of this year was the lowest since mid-1970s. Meanwhile, the Ivey PMI […]
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April 62018
Euro Rallies Against US Dollar on Weak US Employment Data
The euro today rallied against the US dollar following the release of disappointing US non-farm payrolls report for March. Earlier Markit Economics PMI releases covering the European docket had triggered the euro’s initial uptrend following a major decline during the Asian session. The EUR/USD currency pair gained over 60 points to rally from a low of 1.2215 to a high of 1.2280 at the time of writing. The currency pair had rallied briefly earlier following […]
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April 62018
US Dollar Soft After Underwhelming NFP, Trade War Escalation
The US dollar dropped against its most-traded peers today following the release of surprisingly underwhelming jobs data and signs of escalation of trade tensions between the United States and China. US nonfarm payrolls grew by just 103,000 jobs in March, far slower than the increase analysts had predicted — by 188,000. Furthermore, the unemployment rate remained unchanged at 4.1%, while experts had promised a small decrease to 4.0%. Wage growth was the only […]
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April 62018
EUR/USD Closes Higher After Disappointing NFP
EUR/USD closed higher on Friday after the release of disappointing nonfarm payrolls and escalation of trade war rhetoric between the United States and China. Nonfarm payrolls rose by 103k in March, missing the analysts’ average estimate of 188k by a wide margin. On a more positive note, the previous month’s huge increase by 313k was revised to an even bigger figure of 326k. Meanwhile, unemployment rate ticked up unexpectedly from 4.0% to 4.1%. Average hourly earnings […]
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