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Day: December 6, 2018
December 62018
US Dollar Declines amid Falling Treasury Yields, Disappointing Employment Data
The US dollar declined against its major peers today despite the risk-negative sentiment. Market analysts explained the drop by falling Treasury yields and disappointing employment data. Thursday’s macroeconomic data disappointed market participants, with employment rising less than was expected while unemployment claims being above forecasts. Meanwhile, 10-year US Treasuries slumped 1.85%. As a result, bets for an interest rate hike from the Federal Reserve in December […]
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December 62018
Canadian Dollar Weakens on Falling Oil Prices, Bearish BOC Warning
The Canadian dollar is tumbling on Thursday as the price of oil plunges and the Bank of Canada (BOC) issues another bearish warning about the national economy. The loonie has performed poorly against the greenback, sliding nearly 1% over the last week and 7% so far this year. On Wednesday, the central bank left its main interest rate unchanged at 1.75%, contributing to the dovish tone that continues to surprise markets. After months of being […]
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December 62018
Euro Rallies Against US Dollar on Weak ADP Jobs Data, Later Declines
The euro today rallied higher against the US dollar following the release of the latest US employment change data in the early American session. The euro was also bid higher by the sell-off in global equity markets due to fears relating to the US-China trade truce and the recent arrest of the Huawei CEO in Canada. The EUR/USD currency pair today rallied from a low of 1.1321 in the early European session to a high of 1.1413 after the US monthly jobs data. […]
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December 62018
Yen Gains as Risk Aversion Allows to Ignore Comments from BoJ Chief
The Japanese yen gained on its most-traded rivals today, propelled higher by risk aversion. The general negative market sentiment allowed the currency to ignore dovish comments from the central bank’s chief. Bank of Japan Governor Haruhiko Kuroda dismissed possibility of an interest rate hike in the near future. He said today: Raising interest rates now to create policy space for future economic downturns may risk delaying achievement of our inflation […]
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December 62018
Australian Dollar Tanks, Falling for Fourth Session
The Australian dollar tanked today, falling for the fourth consecutive trading session. Domestic macroeconomic data was mixed, but it was overshadowed by global news that was negative to the market sentiment. The big news on Thursday was the arrest of Huawei CFO Meng Wanzhou in Canada. The chief financial officer of the Chinese tech giant will be extradited to the United States to face charges of dealings with Iran that violate US sanctions. […]
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December 62018
EUR/USD Rallies, Supported by US Employment Data Miss
EUR/USD rallied today. The rally accelerated after the release of US employment data, which missed expectations. The market sentiment was negative following the news about the arrest of Huawei CFO Meng Wanzhou, but that did not help the dollar to rebound. ADP employment rose by 179k in November, down from 225k in October and missing the analysts’ average projection of 195k. (Event A on the chart.) Nonfarm productivity rose 2.3% in Q3 2018 from […]
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