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Day: October 4, 2019
October 42019
Canadian Dollar Rallies on Higher Oil Prices and Mixed US Jobs Data
The Canadian dollar today rallied against the US dollar into the American session primarily driven by the rising oil prices and the greenback’s weakness. The USD/CAD currency pair fell to its daily lows following the release of the mixed US non-farm payrolls report in the early American session before rallying higher. The USD/CAD currency pair today fell from an opening high of 1.3338 to a daily low of 1.3298 driven by the mixed US jobs data, but […]
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October 42019
EUR/USD Swings Back & Forth After US NFP
EUR/USD was extremely volatile after the release of US nonfarm payrolls, swinging back and forth. Currently, the currency pair trades slightly above the opening level even though the report was rather poor for the most part. Nonfarm payrolls rose by 136k in September, missing the consensus forecast of 146k. The August increase got a positive revision from 130k to 168k. Unemployment rate declined from 3.7% to 3.5% unexpectedly. Average hourly earnings […]
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October 42019
US Dollar Mixed As Unemployment Rate Falls to 50-Year Low
The US dollar is mixed at the end of the trading week after the US government reported that the labor market is showing some resilience as the economy â at home and abroad â cools down. According to the Bureau of Labor Statistics (BLS), the US economy created 136,000 jobs in September, up from the 130,000 new jobs in August. The market had penciled in 145,000 new jobs. The unemployment rate fell 0.2% to 3.5%, the lowest it […]
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October 42019
USD/INR Flat After Reserve Bank of India Cuts Interest Rates
The Indian rupee traded about flat versus the US dollar today following an interest rate cut from India’s central bank. The bank loosened its monetary policy to support economic growth, which is struggling amid the global economic slowdown. The Reserve Bank of India cut its main interest rate by 25 basis points to 5.15% today in a unanimous vote. Such a decision was largely expected by analysts. The central bank […]
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October 42019
Australian Dollar Continues to Recover Despite Retail Sales Miss
The Australian dollar extended its bounce today, gaining against most major currencies with the exception of the Swiss franc. While the rebound was not enough to erase this week’s losses, it gives the Aussie a chance to avoid ending the week as the weakest currency. As for Australia’s macroeconomic data, it was mixed today, with the housing market recovering but retail sales missing expectations. The Australian Bureau of Statistics reported that retail […]
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