The US dollar surged today after non-farm payrolls came out even better than optimistic expectations, while positive trade data added to the upside momentum. The greenback reached a new multi-year high against the euro and the lowest level in almost 11 months against the Great Britain pound. US employers added 248,000 jobs in September compared to the median analysts’ forecast of 216,000. The disappointing August figure of 142,000 was revised positively … “Dollar Explodes to Upside After NFP”
Month: October 2014
Australian Dollar Unable to Maintain Rally
The Australian dollar fell against its US counterpart after the gauge of the nation’s service’s sector demonstrated yet another month of decline. The currency also erased its gains versus the Japanese yen that it had made previously. The seasonally adjusted Australian Industry Group Australian Performance of Services Index declined from 49.4 in August to 45.4 in September. The figure below 50.0 indicates contraction of the sector, and it was the seventh month … “Australian Dollar Unable to Maintain Rally”
EUR/USD: Trading the US Non Farm Payrolls Oct 2014
US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. News: Non-Farm Payrolls 248K – USD higher Here are the details and 5 possible outcomes for EUR/USD. Published on … “EUR/USD: Trading the US Non Farm Payrolls Oct 2014”
Euro Can’t Maintain Gains Against Greenback
While the euro is maintaining its recent gains against some of its counterparts, the 18-nation currency is losing ground to the US dollar. Thanks to continued policy divergence and weaker gold prices, there is little to support the euro against the greenback. Yesterday, the euro got a bit of a boost against the US dollar when ECB President Mario Draghi was vague about plans to buy private debt and ramp up easing. … “Euro Can’t Maintain Gains Against Greenback”
Lower Commodities Weigh on Loonie
Loonie continues to struggle against the US dollar, even as it makes gains against European currencies like the pound and the euro. Disappointing economic data and lower commodities aren’t helping the Canadian dollar. Earlier this week, disappointing economic data pointed to slowing growth in Canada. After six months of gains for the economy, a bit of a stumble was seen. The news has many once again predicting a rate hike from the Bank of Canada … “Lower Commodities Weigh on Loonie”
Poor Services PMI Doesn’t Add to Already Bearish Bias of GBP
Today’s report about UK services sector was rather negative, but it hardly affected the Great Britain pound that had already declined versus the US dollar and had retreated from the daily high against the Japanese yen. The Markit/CIPS UK Services Purchasing Managers’ Index fell from 60.5 in August to 58.7 in September, trailing analysts’ estimates. The gauge joined other economic indicators in pointing out a struggle for UK … “Poor Services PMI Doesn’t Add to Already Bearish Bias of GBP”
Dollar Retains Losses, Attempts to Bounce
The US dollar was trading below opening level against some of its major counterparts today but managed to trim losses with help of positive outlook for the US labor market. The greenback retained gains versus the Great Britain pound. The major negative event for the dollar today was the European Central Bank meeting that resulted in no change to monetary policy. While the initial impact of this factor subsided a bit, it … “Dollar Retains Losses, Attempts to Bounce”
ECB Provides No Surprises, Euro Higher
The euro advanced today, rising against the US dollar and the Great Britain pound, after the European Central Bank conducted its monthly policy meeting. The shared 18-nation currency also pared its previous losses versus the Japanese yen. One of two major events this week was the ECB monetary policy meeting. Forex market participants counted on no change to the policy from the central bank. As it turned out, they … “ECB Provides No Surprises, Euro Higher”
UK Pound Unable to Keep Gains
The Great Britain pound attempted to rally today after a positive report about the construction sector but was unable to hold onto gains, falling to the lowest level in three weeks against the US dollar. The Markit/CIPS UK Construction Purchasing Managersâ Index rose a little from 64.0 in August to 64.2 in September instead of falling as was predicted by experts. Investors remained unconvinced by the positive data as most other economic indicators have been … “UK Pound Unable to Keep Gains”
Helpful Economic Data Leads to Gains of Aussie
The Australian dollar gained today with the help of upbeat economic data from Australia, though the currency is slowly losing its gains as of now. Still, currently the Aussie trades above the opening level. Australia’s trade balance deficit shrank by A$288 million to A$787 million in August from the previous month on a seasonally adjusted basis. Building approvals grew by 3 percent last month (also adjusted for seasonal factors), outpacing analysts’ … “Helpful Economic Data Leads to Gains of Aussie”