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Day: December 6, 2019
December 62019
Canadian Dollar Falls on Weak Jobs Data, Ignores Saudi Aramco IPO
The Canadian dollar today fell against its US peer following the release of disappointing jobs data, which missed expectations by a considerable margin. The loonie erased all of the gains made against the greenback earlier this week amid the highly anticipated Saudi Aramco IPO. The USD/CAD currency pair today rallied from a low of 1.3171 in the mid-European session to a high of 1.3259 erasing most of the gains made by the loonie earlier this week. The currency […]
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December 62019
US Dollar Surges on 266,000 New Jobs in November
The US dollar is soaring to close out the trading week, buoyed by a terrific November jobs report that suggested the labor market is strong. For months, it had been stated that the jobs market was resilient but following this report, analysts could make the case that it is a force to be reckoned with. According to the Bureau of Labor Statistics (BLS), the US economy added 266,000 jobs in November, […]
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December 62019
Japanese Yen Rises After Mixed Macroeconomic Reports
The Japanese yen rose against the majority of most-traded currencies today, though failed to gain on the Australian and New Zealand dollars. One of the possible reasons for the rally were doubt about the chances of the United States and China reaching a trade deal before new US tariffs kick in on December 15. Japan’s macroeconomic data was mixed, giving the yen no additional support. The Ministry of Health, Labor, and Welfare reported that average cash earnings […]
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December 62019
Australian Dollar Rallies, Ignoring Negative Domestic Data
The Australian dollar was trading mostly higher against its major rivals today. With no clarity as to whether the United States and China will be able to reach a trade deal before the December 15 deadline, it is hard to say what drove the Aussie higher. Domestic macroeconomic data was certainly not the reason for the good performance as the latest reports were rather bad. The Australian Industry Group/Housing Industry Association […]
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December 62019
USD/JPY Challenged by the Bears at 108.85
The US dollar versus the Japanese yen currency pair lost part of the gains made last week. Is this a bearish win or the bulls are preparing their new march towards 110.29 from better prices? Long-term perspective After the low printed at 104.44, the price started an appreciation that took the shape of an ascending trend. The low of 108.27 posted a threat for the bullish advancement, but they were able to get the price back […]
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