The US dollar is tumbling at the end of the trading week as a new jobs report was weaker than expected. The greenbackâs losses were capped on a new survey that found consumer sentiment remains strong. With the equities markets in shambles, and the Federal Reserve behaving in a dovish manner, it is possible that the buckâs 2018 ascent may crumble heading into 2019. According to the Bureau of Labor Statistics (BLS), the US economy added […]
Read moreThe Canadian dollar today rallied higher against its US counterpart following the release of upbeat Canadian jobs data, versus the disappointing US nonfarm payrolls data. The USD/CAD dropped to new weekly lows on the jobs data as well as the higher global crude oil prices, which also favored the loonie. The USD/CAD currency pair today dropped from a high of 1.3400 to a low of 1.3249 following the jobs data from both countries. The currency […]
Read moreEUR/USD was volatile after US nonfarm payrolls missed expectations. Initially, the currency pair surged but trimmed gains immediately. Nevertheless, it continued to move higher afterwards. Yet by the very end of trading, the EUR/USD moved sharply down, almost erasing the day’s gains. Nonfarm payrolls rose by just 155k in November, far below the forecast value of 198k. Furthermore, the October’s increase got a negative revision from 250k to 237k. […]
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