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Day: January 30, 2019
January 302019
US Dollar Rises on Strong Jobs Report, Capped by âPatientâ Fed
The US dollar is gaining against its currency rivals midweek after new data shows the labor market entered 2019 on a strong note. But the dollarâs ascent was capped by a âpatientâ Federal Reserve, suggesting that there will not be any moves on interest rates until at least June. According to ADP, US companies added 213,000 jobs in January, beating median estimates of 174,000. The labor gains were […]
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January 302019
Swiss Franc Drops, Dragged Down by Poor Macroeconomic Data
The Swiss franc fell against most of its major rivals today. Poor domestic macroeconomic data has likely played some part in the decline. The KOF Economic Barometer fell to 95.0 in January from 96.4 in December. Analysts had expected an increase to 96.8. The report commented on the result: The downward tendency that emerged at the end of last year continues. KOF added further: This renewed decline is especially attributable to negative developments […]
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January 302019
Australian Dollar Rallies After CPI Beats Expectations
The Australian dollar rallied today against most-traded peers thanks to the inflation print that came out slightly above expectations. The Australian Bureau of Statistics reported that the Consumer Price Index rose 0.5% in the December quarter of 2018 from the previous three months. Analysts had expected the same 0.4% rate of growth as in the September quarter. Year-on-year, the CPI rose 1.8%. The trimmed mean CPI rose 0.4% last quarter — in line with […]
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January 302019
Euro Range Bound on Mixed Eurozone Data, Drops on US Jobs Data
The euro today traded in a tight range amid subdued market activity as investors waited patiently for the FOMC rate decision scheduled for later today. The release of mixed data from across the eurozone had minimal impact on the EUR/USD currency pair, which continued to trade above the crucial 1.1400 level. The EUR/USD currency pair today traded between a high of 1.1450 and a low of 1.1421 before breaking lower following the release of the latest US jobs […]
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January 302019
Sterling Rallies Despite Brexit Uncertainty With Looming Deadline
The Sterling pound today rallied slightly against the US dollar after the UK Parliament approved Sir Brady’s amendment allowing the Prime Minister to renegotiate the Irish backstop plan. The pound’s gains were limited by the fact that the European Union has categorically stated that it will not reopen negotiations regarding the current Brexit deal as it is final. The GBP/USD currency pair today rallied from a low of 1.3066 to a high […]
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January 302019
EUR/USD Jumps After FOMC Dovish Statement
EUR/USD jumped sharply today after the Federal Open Market Committee demonstrated a dovish stance in its monetary policy statement. Before the release, the dollar was boosted by the better-than-expected employment data. ADP employment rose by 213k in January, exceeding the average forecast of 180k. The December increase got a negative revision from 271k to 263k. (Event A on the chart.) Pending home sales dropped by 2.2% in December instead of rising by 0.8% as analysts had predicted. […]
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