The US dollar rallied against the basket of major currencies today after the stellar non-farm payrolls that have exceeded even optimistic forecasts. The currency gained more than 1 percent and climbed to the highest level in almost 13 years against the Japanese yen. US non-farm payrolls grew by whooping 280,000 jobs in May versus the consensus forecast of 222,000. Positive reading was certainly not a surprise to market participants after the previous … “Stellar Non-Farm Payrolls Lead to Rally of US Dollar”
Month: June 2015
Euro Mixed as Greece Defers IMF Payment
Announcements made earlier today indicate that Greece is deferring its IMF payment, due today, until the end of June. The news comes with the backing of Brussels, and the Greek Prime Minister vows not to leave the euro zone. Euro is lower against the dollar today, but trading higher against some of its other counterparts, following the announcement that Greece will put off one of its IMF payments … “Euro Mixed as Greece Defers IMF Payment”
Japanese Yen Remains Weak, Policymakers Worry About Complications
Japanese yen is mostly lower today, falling against many of its counterparts. While Japanese officials like the yen weak since it helps the economy, there are concerns that a continued policy of yen weakness could complicate matters with the United States. It’s been an interesting few days in Japan. In recent days, different officials have made conflicting statements about yen currency policy. Yen weakness … “Japanese Yen Remains Weak, Policymakers Worry About Complications”
6 Reasons To Fade EUR/USD Strength – BNPP
EUR/USD certainly had a wild ride of around 400 pips before stabilizing on high ground. Nevertheless, the team at BNP Panibas calls us to fade the strength and provides 6 reasons: Here is their view, courtesy of eFXnews: BNP Paribas exited its latest short EUR/USD position this week following the market’s response to the ECB’s … “6 Reasons To Fade EUR/USD Strength – BNPP”
Aussie Retains Weakness Following Thursday’s Data
The Australian dollar retained its weakness today after yesterday’s detrimental economic reports. While the currency regained some of its strength against the euro, the Aussie remained soft against the US dollar and the Japanese yen. Australia’s trade balance deficit widened from A$1.23 billion to A$3.89 billion in April on a seasonally adjusted basis, exceeding analysts’ projections. Retail sales were unchanged on April while traders had counted on a small increase … “Aussie Retains Weakness Following Thursday’s Data”
Dollar Firms Ahead of Non-Farm Payrolls
The US dollar firmed a bit today as positive unemployment data returned optimism to dollar bulls ahead of tomorrow non-farm payrolls. Earlier, the currency had been subdued due to concerns about the US economy and hopes for positive resolution of the Greek crisis. The US Department of Labor reported that initial jobless claims fell 284,000 to 276,000 last week. The report followed yesterday’s data from Automatic Data Processing that showed growth … “Dollar Firms Ahead of Non-Farm Payrolls”
6 Factors That Influence Exchange Rates – Infographic &
What factors move currencies? There are quite a few factors causing the swings and in volatile times like these, perhaps all of them are at play at all times. The infographic and video below explain 6 factors that influence the exchange rates. The inforgraphic was first published here.. Please see the explanation video below as well:
EURGBP- Vulnerable, Loses Upside Momentum
EURGBP- With EURGBP seen struggling at higher level prices, it faces the risk of a move lower if failed to surpass its intra day high at 0.7383 level. On the downside, support lies at the 0.7300 level where a break will expose the 0.7250 level. Further down, support comes in at the 0.7200 level where … “EURGBP- Vulnerable, Loses Upside Momentum”
Pound Overcomes Service Data Drag
Service sector data sent the pound a little lower earlier, but now the sterling is overcoming some of that drag. Pound is still down against the euro, but it is gaining against other major currencies like the yen and the dollar. The latest UK services PMI reading from Markit came in below expectations, and that sent the pound lower earlier. Analysts expected to see a reading of 59.2, and the actual reading … “Pound Overcomes Service Data Drag”
Euro Continues to Log Gains
Euro continues to log gains today, heading higher as the bond market remains volatile and as the Greek prime minister insists that his country’s loan payment will be made on Friday as agreed. Euro is surging today as stocks drop and bond yields rise. Mario Draghi, the President of the European Central Bank, warned yesterday that bond market volatility would be around for a while. This is creating uncertainty in stock … “Euro Continues to Log Gains”