The Australian dollar gained during the Wednesday’s trading session, though it has shed some of its gains by now. The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.3% in September after increasing 2.0% in the prior month. The report noted that the sentiment “has been remarkably stable for the last six months” despite plenty of events that should have hurt it. Now, traders wait for employment data from Australia … “Australian Dollar Trades Higher Ahead of Thursday’s Employment Data”
Month: September 2016
New Zealand Current Account Logs Deficit, NZD Remains Firm
The New Zealand dollar was firm today even though the nation’s current account turned into deficit in the second quarter of 2016. The New Zealand current account posted a deficit of NZ$0.95 billion (not seasonally adjusted) in the June quarter after logging a surplus of NZ$1.18 billion during the previous three months. On a seasonally adjusted basis, the already existed shortage increased even more. Yet the New Zealand currency was not bothered … “New Zealand Current Account Logs Deficit, NZD Remains Firm”
AUD/USD – Trading the Australian Employment Change
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one … “AUD/USD – Trading the Australian Employment Change”
Canadian Dollar Loses Ground as Crude Oil Slumps
The Canadian dollar was steady by the end of the previous trading session but lost its ground during the current session, falling along with crude oil prices. The currency dropped about 1% against the US dollar and the euro. It also declined for the third straight session versus the Japanese yen. The Canadian dollar often moves in tandem with oil prices, and it was not different this week. Yesterday’s rally of crude … “Canadian Dollar Loses Ground as Crude Oil Slumps”
Dollar Rebounds After Monday’s Decline
The US dollar climbed against the vast majority of its most-traded peers (with the exception of the surprisingly strong euro) following yesterday’s drop caused by comments from US policy makers. Yesterday, Governor Lael Brainard warned against preemptive removal of monetary accommodation while Minneapolis Fed President Neel Kashkari voiced an opinion that there is no urgency to act right now. At the same time, Atlanta Fed President Dennis … “Dollar Rebounds After Monday’s Decline”
Could the Carry Trade Help the Aussie?
The Australian dollar has been struggling recently, but there is some speculation that the Down Under currency could get some help moving forward. The carry trade might provide a basis for some success for the Aussie. The move isn’t likely to result in big gains for the currency, though, and Aussie is currently mostly lower. Things have been difficult for the Aussie recently. With commodity currencies suffering from the choppy performances … “Could the Carry Trade Help the Aussie?”
Euro Unfazed by Economic Sentiment
The economic sentiment indexes for Germany and the whole eurozone failed to meet economists’ expectations. Despite that, the euro held steady against some of its most-traded rivals (like the US dollar) and even managed to gain on others (like the Great Britain pound). The ZEW Indicator of Economic Sentiment for Germany logged the same reading (0.5) in September as in August while experts had predicted a big increase to 2.8. The report said: The current ambiguity of economic … “Euro Unfazed by Economic Sentiment”
Pound Down as Inflation Misses Expectations
The Great Britain pound slipped against its major rivals as inflation data disappointed market participants, failing to reach the levels predicted by experts. Losses were limited though. The Consumer Price Index rose 0.6% in August from a year ago, the same as in July, whereas analysts had promised a bit bigger growth by 0.7%. Most other indicators released over the trading session were below expectations as well. That led to talks … “Pound Down as Inflation Misses Expectations”
GBP/USD: Trading the UK Claimant Count Change
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. It provides a snapshot of the strength of the UK employment market. A reading which is better than the estimate is bullish for the pound. Update: UK jobless claims rise 2.4K in August, wages mixed – GBP higher Here are … “GBP/USD: Trading the UK Claimant Count Change”
Canadian Dollar Bounces After Earlier Losses
The Canadian dollar was moving lower against its major counterparts during the Monday’s trading session but has rebounded against the US dollar and the euro as of now and trimmed its losses versus the Japanese yen. Crude oil was falling during the session as prospects for an interest rate hike from the Federal Reserve and the bearish report from the Organization of Petroleum Exporting Countries were pushing prices lower. But crude’s movement changed … “Canadian Dollar Bounces After Earlier Losses”