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Day: January 10, 2020
January 102020
CAD Mixed on Amazing Employment Data, Falling Crude Oil
The Canadian dollar did not show a clear trend today, being under the influence of mixed fundamentals. Domestic employment data was surprisingly good but the drop of crude oil prices was weighing on the currency. Statistics Canada reported that Canadian employers added 35,200 jobs in December after shedding as much as 71,200 in November. The figure was above the analysts’ consensus forecast of a 24,900 increase. Furthermore, the unemployment rate dropped from […]
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January 102020
US Dollar Mixed Amid Soft December Jobs Report
The US dollar is mixed against its currency rivals at the end of the trading week, buoyed by a tepid jobs report that fell short of the market forecasts. The December labor report suggested that job creation may be tapering off in a robust economy. Last month, the US economy added 145,000 new jobs, down from the 266,000 increase in November, according to the Bureau of Labor Statistics (BLS). The market had penciled in a gain […]
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January 102020
Japanese Yen Soft as Market Sentiment Favors Risk
The Japanese yen was weak today as the market sentiment continued to favor riskier currencies, not safer ones. Domestic macroeconomic data provided the currency no help, coming out withing expectations and signaling about the persisting weakness of the Japanese economy. Investors were in a positive mood after the United States signaled that they will respond to the Iranian attack on US military bases with sanctions, not military actions. Meanwhile, Iran […]
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January 102020
Australian Dollar Gets Boost from Market Sentiment & Retail Sales
The Australian dollar together with its New Zealand counterpart were the strongest currencies on the Forex markets today thanks to the positive market sentiment. The Aussie got an additional boost from good domestic macroeconomic data as retail sales rose much more than was expected. Markets were in a risk-on mode as there were no signs of further escalation in the US-Iran conflict and investors, who had been previously spooked by the threat of a war, […]
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January 102020
Pound Rallies on Brexit Bill Passage, Later Falls on Dovish BoE Stance
The pound today rallied briefly against the US dollar during the Asian session after the UK Parliament approved the government’s Brexit withdrawal Bill last night. The GBP/USD currency pair’s rally was short-lived as it later fell in the early London session as after the European Union announced a series of meetings to discuss Brexit. The GBP/USD currency pair today rallied to a high of 1.3091 in the Asian session before falling to a low of 1.3048 in the London session […]
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January 102020
The Bulls Conquered USD/JPY and May Aim for 111.07
The US dollar versus the Japanese yen currency pair allowed a full-fledged bullish appreciation. Are they exhausted or is this just the beginning? Long-term perspective The appreciation that started after the low of 104.44 extended until the 109.72 area, from where a sideways movement commenced. The bears tried to turn this pause into their next big drop, as with the beginning of 2020 they took out the previous lows and breached the 108.13 […]
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