US Nonfarm 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. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 12:30 GMT. Indicator Background Job … “EUR/USD: Trading the US Nonfarm Employment Change”
Month: May 2016
Pound Soft vs. Dollar After Another Disappointing Report
Great Britain’s economic data provided yet another disappointing reading, this time for the services sector, making the pound fall against the US dollar today. The sterling fared better against other majors, actually rising against the euro. The Markit/CIPS UK Services PMI dropped from 53.7 to 52.3 in April while economists had hoped for the indicator to stay almost unchanged. It was the lowest reading in more the three years. The services … “Pound Soft vs. Dollar After Another Disappointing Report”
Australian Dollar Overcomes Impact of RBA Cut
The Australian dollar was able to overcome the negative impact of the surprise interest rate cut from the Reserve Bank of Australia, rising today. The advance happened with the help of positive macroeconomic data from Australia. Retail sales rose 0.4% in March on a seasonally adjusted basis, exceeding forecasts and the previous month’s rate of growth. The trade balance deficit shrank from A$3.04 billion to A$2.16 billion in March while analysts had predicted much … “Australian Dollar Overcomes Impact of RBA Cut”
Clinton Continuation vs. Donald Disruption – what the race
Donald Trump is the all but official Republican nominee and Hillary Clinton has a clear lead in the Democratic Party. These are two very different choices for American voters and for markets: a Clinton Continuation or a Donald Disruption. As Trump’s rivals announce their campaign suspensions, the fight is on for the highest job in … “Clinton Continuation vs. Donald Disruption – what the race”
Risk Aversion Limits Losses to US Dollar
US dollar has been struggling since the latest ADP data, and Forex traders and others are waiting for the nonfarms payroll report due out at the end of the week. However, even though the latest economic data isn’t positive for the greenback, losses are being limited as risk aversion sets in. There is some risk aversion in the markets today as US stocks struggle following the latest ADP data, which shows that the private … “Risk Aversion Limits Losses to US Dollar”
Pound Little Changed vs. Dollar & Yen After Construction PMI
The Great Britain pound traded little changed against the US dollar and the Japanese yen as yet another Purchasing Managers’ Index came out below expectations. The Markit/CIPS UK Construction PMI fell from 54.2 to 52.0 in April, showing the slowest expansion of business activity since June 2013. The actual reading was far weaker than 54.2 predicted by analysts. Today’s data followed yesterday’s report that showed an unexpected drop … “Pound Little Changed vs. Dollar & Yen After Construction PMI”
NZ Dollar Down After Employment Data, Fall Limited
The New Zealand dollar fell a little after the release of mixed employment data today and the drop of prices for dairy products. The number of employed New Zealanders increased by 1.2% in the March quarter from the previous three months, two times the increase forecast by analysts. At the same time, the unemployment rate climbed from 5.4% to 5.7%, exceeding expectations. Yesterday, GlobalDairyTrade reported that the GDT Price index dropped 1.4% from the previous reporting period … “NZ Dollar Down After Employment Data, Fall Limited”
EUR/USD: Next Sustained Move To The Downside: Where To
EUR/USD is consolidating its position outside the safe haven camp and made a full turnaround. Does it have more room to the downside? Here is their view, courtesy of eFXnews: From the perspective of the dollar going forward, we do not see any compelling reason for altering our EUR/USD forecasts dramatically. Some data like the ISM … “EUR/USD: Next Sustained Move To The Downside: Where To”
GBP/USD: Trading the UK Services PMI
UK Services PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on … “GBP/USD: Trading the UK Services PMI”
Canadian Dollar Tumbles amid Crude Oil Sell-Off
The Canadian dollar fell more than 1% against its major counterparts today as the sell-off of crude oil hurt the commodity-linked currency while poor economic data from China gave traders even more incentive to avoid currencies related to raw materials. Crude oil prices declined on Tuesday as traders felt concern about the oversupply on the market. Oil dragged the loonie down as a large chunk of Canada’s export revenue comes from … “Canadian Dollar Tumbles amid Crude Oil Sell-Off”