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Day: September 7, 2018
September 72018
US Dollar Rallies on Strong August Jobs Report
The US dollar is rallying against its major counterparts at the end of the trading week following a better-than-expected August jobs report. The bullish economic report will likely give further ammunition to the Federal Reserve to raise interest rates at its next Federal Open Market Committee (FOMC) policy meeting later this month, a dollar-positive move. According to the Bureau of Labor Statistics (BLS), non-farm payrolls surged 201,000 jobs last month, […]
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September 72018
EUR/USD Slumps After Nonfarm Payrolls Beat Expectations
EUR/USD was moving lower today amid the risk-averse market sentiment caused by fears of a trade spat between the United States and their trading partners. The currency pair accelerated decline after US nonfarm payrolls came out unexpectedly strong. Nonfarm payrolls rose by 201k in August, beating the average forecast of 191k. The previous month’s already weak reading got a negative revision from 157k to 147k. Unemployment rate remained at 3.9%, […]
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September 72018
Canadian Dollar Falls on Weak Employment Data Amid Strong NFP
The Canadian dollar today fell significantly against its US counterpart following the release of the latest Canadian employment data, which missed expectations. The USD/CAD currency pair was also boosted by the resurgent greenback, which was fueled by the upbeat US nonfarm payrolls report released at the same time. The USD/CAD currency pair today rallied from a low of 1.3106 to a high of 1.3182 as the loonie ceded ground to the greenback. The release of the latest Canadian labour […]
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September 72018
Japanese Yen Soft After Mixed Data Despite Risk Aversion
The Japanese yen was soft today despite mild risk aversion among Forex traders. Domestic macroeconomic data was mixed, providing no aid to the currency. Household spending rose 0.1% in real terms in July over the year instead of falling 0.9% as analysts had predicted. Average cash earnings rose 1.5% in July from the same month a year ago, missing the analysts’ average estimate of a 2.4% increase. The leading index […]
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September 72018
Australian Dollar Broadly Lower During Friday’s Trading
The Australian dollar traded broadly lower today. While domestic macroeconomic data was mixed, analysts speculated that persisting risk aversion on the Forex market was the major reason for the currency’s decline. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index slipped from 52.0 to 51.8 in August. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans rose 0.4% July from […]
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