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Day: July 5, 2019
July 52019
Aussie Soft During Friday’s Trading
The Australian dollar was soft against most of its major rivals today. The construction index, released over the trading session, logged an increase, but that hardly helped Australia’s currency. The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index was at 43.0 in June, up from 40.4 in May. Being below the 50.0 level, the index was still indicating contraction of the sector, but at least with slower pace. […]
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July 52019
Euro Falls on Weak German Data, Extends Losses on Upbeat US NFP
The euro today broke out of its 3-day consolidative range and fell drastically against the US dollar following the release of weak German factory data. The EUR/USD currency pair later extended its losses following the release of the upbeat US non-farm payrolls data in the early American session. The EUR/USD currency pair today fell from an opening high of 1.1286 to a low of 1.1206 after the release of the US jobs data and was near these […]
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July 52019
Yen Soft After Macro Releases, Comments from BoJ Official
The Japanese yen was soft versus the majority of its most-traded peers today. Domestic macroeconomic data was mixed and Bank of Japan officials were sending somewhat confusing signals about monetary policy in the future. The Statistics Bureau of Japan reported that household spending increased 4.0% in May over the year. Market participants were expecting about the same rate of growth as in April (1.3%). Meanwhile, Japan’s Cabinet Office reported that […]
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July 52019
Canadian Dollar Firm After Surprising Bad Economic Data
The Canadian dollar was firm today even as domestic macroeconomic data was surprisingly poor. While the loonie fell versus its US counterpart, which itself got boost from positive domestic data, the Canadian currency was firm against other major rivals. Statistics Canada reported that the net number of jobs fell by 2,200 in June. That is instead of rising by 10,000 as analysts had predicted ahead of the report. […]
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July 52019
EUR/USD Falls Sharply After NFP Beats Expectations
EUR/USD was moving gradually lower today but accelerated the decline sharply after the release of nonfarm payrolls. Unlike the private report from Automatic Data Processing, the official employment data was far better than expectations. It is important to note, though, that other parts of the report, namely the unemployment rate and wage inflation, were disappointing. US nonfarm payrolls rose by 224k in June, exceeding market expectations of an increase […]
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July 52019
US Dollar Surges on Strong June Jobs Report
The US dollar is surging at the end of the holiday-shortened trading week, buoyed by a stellar June jobs report that defied market expectations and showcased employment gains in nearly every sector of the economy. But equities kicked off the trading session in the red because job creation dampened hopes of a cut to interest rates by the US central bank. According to the Bureau of Labor Statistics (BLS), the US economy added 224,000 new jobs last month, […]
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July 52019
CAD/JPY at an Interesting Possible Obstacle
The Canadian dollar versus the Japanese yen currency pair came back above and confirmed the solid support area of 81.38, and thus fueled the bullish optimism. The question is where will the bulls mark their profits? Long-term perspective Since the high of 85.23, the price has been in what can be called a descending trend, the latest low of which confirmed as support the 80.00 psychological level. But the confirmation of 80.00 came after the break […]
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