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Day: July 6, 2018
July 62018
EUR/USD Rallies on Soft NFP
EUR/USD rallied today, finding help from the disappointing US nonfarm payrolls. While employment rose more than was expected, other indicators failed to meet expectations. The currency pair rallied even as new US tariffs of Chinese goods kicked in, meaning that the trade war between the United States and China has officially started. Nonfarm payrolls surprised positively in terms of employment growth, showing an increase by 213k in June, […]
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July 62018
Canadian Unemployment Disappoints Ahead of Next Week’s BoC Rate Decision
Talking Points: Canadian unemployment for June rests at 6.0%, increasing 0.2 percentage points from May The Canadian dollar climbed versus the dollar as unemployment similarly ticked higher in the US Trade remains a pivotal topic for the Canadian economy as NAFTA remains unresolved and metal tariffs in place Bank of Canada’s rate decision is scheduled […]
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July 62018
USD/CAD Trades Lower on Disappointing Duo of Employment Reports
The USD/CAD currency pair today headed lower as the Canadian dollar gained against its US counterpart following disappointing jobs reports from both countries. The pair’s decline was further accelerated by the selling pressure on the US dollar following the high US unemployment rate reported. The USD/CAD currency pair today declined from an opening high of 1.3150 to a low of 1.3083 in the American session. The currency pair was in a consolidative phase for most of today’s […]
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July 62018
USD/CAD Trades Lower on Disappointing Duo of Employment Reports
The USD/CAD currency pair today headed lower as the Canadian dollar gained against its US counterpart following disappointing jobs reports from both countries. The pair’s decline was further accelerated by the selling pressure on the US dollar following the high US unemployment rate reported. The USD/CAD currency pair today declined from an opening high of 1.3150 to a low of 1.3083 in the American session. The currency pair was in a consolidative phase for most of today’s […]
Read more
July 62018
EUR/USD Rallies on Soft NFP
EUR/USD rallied today, finding help from the disappointing US nonfarm payrolls. While employment rose more than was expected, other indicators failed to meet expectations. The currency pair rallied even as new US tariffs of Chinese goods kicked in, meaning that the trade war between the United States and China has officially started. Nonfarm payrolls surprised positively in terms of employment growth, showing an increase by 213k in June, […]
Read more
July 62018
CAD to Gain on Firm Canadian Jobs Report Giving Green Light to BoC Hike
CAD Analysis and Talking Points Canada expected to add 24k jobs for the month of June Better than expected jobs report to cement BoC rate hike next week. Canada is expected to show a jobs gain of 24k (Low 20k, High 35k) with the unemployment rate standing at 5.8%. A reading above expectations should cement […]
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July 62018
US Dollar Falls on Overall Soft NFP Report as Wage Data Misses Forecasts
NFP Analysis and Talking Points US Nonfarm Payrolls rose by 213k in June, beating expectations of 195k expected; Prior month revised higher. US Average Hourly Earnings misses forecasts. US Unemployment Rate shows surprise 0.2ppt rise amid boost in participation rate See our latest Q3 FX forecast to learn what will drive the currency through the […]
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July 62018
Japanese Yen Falls After Mixed Data, Risk Aversion Provides No Help
The Japanese yen was flat against the US dollar and fell versus other major currencies today despite the gloomy mood among investors as the trade war between the United States and China was ready to start. As for Japan’s macroeconomic data released on Friday, it was mixed. Household spending fell 3.9% in May from a year ago. The actual drop was bigger than a 1.5% decline predicted by analysts and the 1.3% fall registered […]
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July 62018
Japanese Yen Falls After Mixed Data, Risk Aversion Provides No Help
The Japanese yen was flat against the US dollar and fell versus other major currencies today despite the gloomy mood among investors as the trade war between the United States and China was ready to start. As for Japan’s macroeconomic data released on Friday, it was mixed. Household spending fell 3.9% in May from a year ago. The actual drop was bigger than a 1.5% decline predicted by analysts and the 1.3% fall registered […]
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July 62018
NZ Dollar Rallies for Fourth Day in a Row
The New Zealand dollar rallied today, rising for the fourth consecutive trading session against some of its rivals, including the US dollar and the euro. Analysts are not overly optimistic for the currency, though, saying that it was likely just a relief rally. Indeed, the kiwi has started a decline a month ago, therefore an upward correction was not unexpected. The current environment on the Forex market is not supportive to riskier currencies […]
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