The Great Britain pound traded in a narrow range today, not moving far from the opening level, as mixed employment data did not give a reason for the currency to go either up or down. According to the report released today, average weekly earnings rose 2.3% in three months through September from the same period a year ago, matching forecasts and the same as in the previous reporting period. The unemployment rate slipped unexpectedly from 4.9% … “Pound Doesn’t Move Far After Confusing Employment Data”
Month: November 2016
Australian Dollar Sinks Despite Decent Economic Reports
The Australian dollar sank against its major peers today. It is hard to say why the currency was so weak considering that economic data released from Australia on Wednesday was not that bad. The Westpac-Melbourne Institute Leading Index showed slower growth in October than in September, but it still was not bad, and Westpac’s Chief Economist Bill Evans commented: The October reading is the third … “Australian Dollar Sinks Despite Decent Economic Reports”
USD/JPY Towards 112 Initial Target; EUR/USD: 1.07 Key Now
Dollar/yen is already topping 109 but there may be more room for rises. However, EUR/USD could be limited. Here is the view from Morgan Stanley: Here is their view, courtesy of eFXnews: USDJPY support from all sides: Crossing through a previous high at 107.49, we foresee an initial target of 112. We have often said … “USD/JPY Towards 112 Initial Target; EUR/USD: 1.07 Key Now”
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 00:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian Employment Change”
US Dollar Maintains Gains Against Euro on Positive Retail Sales Data
The dollar traded on Tuesday near its highest level in almost a year as the US currency continued to be supported by positive data releases in the worldâs biggest economy. New comments from Federal Reserve officials, which backed a rate hike in December, also boosted the greenback. A report published by the Department of Commerce on Tuesday showed that US retail sales growth, which is the main driver of the economic growth in the country, was at 0.8% in October. … “US Dollar Maintains Gains Against Euro on Positive Retail Sales Data”
GBP/USD: Trading the UK Claimant Count Change
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the unemployment rate, which is released at the same time, it provides a snapshot of the UK employment situation and could affect the direction of GDP/USD. Update: UK jobless claims jump by 9.8K – GBP/USD suffers Here are the details … “GBP/USD: Trading the UK Claimant Count Change”
EUR/USD Post-Trump: 2 Key Reasons To Sell; We Stay Short
EUR/USD did manage to bounce up in perfect range trading, but this could also be a dead-cat bounce. The team at Citi lists two reasons to stay short: Here is their view, courtesy of eFXnews: The Trump victory has 1) led to a change in language at the ECB and 2) raised questions as to whether EUR is … “EUR/USD Post-Trump: 2 Key Reasons To Sell; We Stay Short”
AUD Rises vs. USD, Flat vs. Other Majors
The Australian dollar fell against its US counterpart after the release of monetary policy minutes from the Reserve Bank of Australia, but the managed to rebound as of now. At the same time, the currency was mostly flat versus its other most-traded rivals. The RBA released minutes of its November 1 policy meeting today. The notes were fairly neutral, making several remarks about balanced risks to inflation, like: The overall assessment was … “AUD Rises vs. USD, Flat vs. Other Majors”
Loonie Falls vs. Greenback, Avoids Losses vs. Other Rivals
The Canadian dollar fell against its US peer on Monday as the shock of the surprise victory of Donald Trump in the US presidential elections continued to weigh on the currency. The loonie managed to gain on other most-traded rivals, like the euro and the Japanese yen. Trump’s victory led to concerns that trading ties between Canada and the United States may weaken. That is a very bad prospect of the Canada’s economy and the USA are the nation’s biggest trading partner. … “Loonie Falls vs. Greenback, Avoids Losses vs. Other Rivals”
British Pound Struggles to Find Direction, Drops Against US Dollar
The British pound declined on Monday as the currency retreated from its recent highs due to the rapid gains that the US dollar achieved. The British pound traded near its last weekâs opening level today after losing all of the gains accomplished on Friday, which had brought the currency to its highest level since its sudden crash on October 7. Traders speculate that Donald Trumpâs presidency could produce higher … “British Pound Struggles to Find Direction, Drops Against US Dollar”