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Day: June 1, 2018
June 12018
EUR/USD Rallies as Employment Data Exceeds Expectations
EUR/USD rallied today even though trade wars between the United States and their trading partners have started. Yet macroeconomic data in the United States overshadowed other news. Almost all indicators released today were very solid. The employment report drew the most attention from traders as basically all of its components were better than expected. Nonfarm payrolls rose by 223k in May, demonstrating a much faster rate […]
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June 12018
S&P 500, DAX & FTSE – Buyers Stepping In On Pullbacks, So Far
Talking Points: NFPs beat expectations on Friday, light calendar next week; S&P price action in limbo Light calendar ahead; response to DAX decline could be telling BoE BoE/TNS Inflation on Friday; FTSE being tested after failed breakout For the intermediate-term technical and fundamental outlook, check out the DailyFX Q2 Forecasts. S&P 500 On Friday, we […]
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June 12018
Technical Chart Analysis – Bitcoin, Ether, Ripple, Litecoin
News and Talking Points – Bitcoin, Ripple, Ether, Litecoin – Prices ending the week higher in low turnover. – If chart support levels hold, further gains may be on the cards. To see how retail traders are currently positioned in cryptocurrencies and what it means for the market looking forward, download the IG Client Sentimentpage. […]
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June 12018
Non-Farm Payrolls Lift US Dollar
The US dollar rallied against most major peers today after employment data showed better-than-expected readings for all major indicators. The Great Britain pound managed to outperform the greenback, though, thanks to the positive report about Britain’s manufacturing. Nonfarm payrolls showed a healthy growth of 223,000 in May, which was far bigger than 189,000 promised by economists. The unemployment rate unexpectedly fell by 0.1 percentage point to 3.8%. Average hourly […]
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June 12018
EUR/USD Rallies as Employment Data Exceeds Expectations
EUR/USD rallied today even though trade wars between the United States and their trading partners have started. Yet macroeconomic data in the United States overshadowed other news. Almost all indicators released today were very solid. The employment report drew the most attention from traders as basically all of its components were better than expected. Nonfarm payrolls rose by 223k in May, demonstrating a much faster rate […]
Read more
June 12018
US Dollar Edges Higher as May US Jobs Report Mostly Beats
Talking Points: – Headline jobs growth comes in at +223K, while the net two-month revision was +15K. – US wage growth increases to+2.7% y/y asthe unemployment rate dropped to 3.8%, a new cycle low. – The US Dollar turned higher following the data, with the DXY Index rising from 94.16 to as high as 94.34, […]
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June 12018
GBPUSD Sees Limited Reaction as UK Manufacturing PMI Rebounds From 17-Month Low
GBPUSD Analysis and News UK Manufacturing PMI sees modest lift from 17-month lows, however underlying concerns remain. GBPUSD remains south of 1.33, GBP traders look for next week’s Construction and Services PMI Mild Uptick Masks Underlying Concerns UK Manufacturing PMI pointed to a limited pick up to 54.4 in May from 17-month lows of 53.9, […]
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June 12018
EURUSD: Italian Risk Remains, NFPs Loom
EURUSD News and Talking Points – Italian risk lowered but not removed. – EURUSD may weaken further on a strong US non-farm payroll print. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now availableto download to help you make more informed trading decisions. EURUSD Remains Under Pressure Italian financial markets […]
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June 12018
Sterling Gets Boost from Britain’s Improving Manufacturing
The Great Britain pound dipped at the start of the current trading session but halted its decline later and attempted to rally. The currency got additional boost from the better-than-expected manufacturing report. The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index edged up to 54.4 in May from 53.9 in April. That is compared to a drop to 53.5 predicted by analysts. It is important to note, though, that the April’s reading was the lowest […]
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June 12018
Australian Dollar Lower amid Mixed Data, Trade Wars
The Australian dollar fell today amid mixed macroeconomic data released over the trading session in Australia and its major trading partner, China. Risk aversion caused by trade wars between the United States and their allies also hurt the currency. The Australian Industry Group Australian Performance of Manufacturing Index fell to 57.5 in May from 58.3 in April. The Index of Commodity Prices reported by the Reserve Bank of Australia rose 3.6% in May from […]
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