The US dollar remained weak during the past week but was not the weakest, outperforming the Great Britain pound that was even softer. The US currency remained under pressure from concerns about the ruling stile of the new US president and his decisions. The cautious tone of the Federal Reserve policy statement did nothing to increase optimism for the dollar. And to top it all off, US non-farm payrolls came out disappointing … “US Dollar Remains Soft, Outperforms Great Britain Pound”
Month: February 2017
CAD Erases Losses vs. USD, Rallies for Second Straight Week
The Canadian dollar was falling against its US counterpart on Friday but managed to erase its losses, closing near the opening level. What is more, CAD ended the week with gains versus USD. It was the second consecutive weekly gain and the fifth in six weeks. The main contributor to the loonie’s bounce was the underwhelming wage inflation data released from the United States as a part of the non-farm payrolls report. The rising … “CAD Erases Losses vs. USD, Rallies for Second Straight Week”
Mexican Peso Rises vs. Dollar After US NFP
The Mexican peso rose together with other Latin American currencies against the US dollar after US wage growth disappointed markets. The peso was surprisingly firm lately despite all the negative implications the Donald Trump’s presidency has for Mexico’s economy and currency. The future does not look particularly bright for Mexico after Trump took the office of the US president and pushed such ideas as building a wall between the United States … “Mexican Peso Rises vs. Dollar After US NFP”
British Pound Falls on Weak UK PMI Reading for Service Sector
The British pound dropped against the dollar and the euro on Friday, to extend its yesterdayâs loss after a new reading for the purchasing managersâ index in the UK service sector revealed weak growth. The pound had declined yesterday after the Bank of England kept interest rates unchanged. A mutual survey done by the Chartered Institute of Procurement and Supply and IHS Markit was released earlier today, revealing that the UK service sector had its slowest … “British Pound Falls on Weak UK PMI Reading for Service Sector”
US Dollar Falters Backed by Poor Wage Growth Against Positive Job Growth for January
The US dollar weakened against its main competitors after the release of the ADP non-farm payroll report for January, which reported that job growth for the month of January had exceeded expectations. The greenback was also affected by lower-than-expected figures reported for growth in average hourly earnings. The US dollar lost significant ground against the euro and the Japanese yen, while it gained ground against the British pound. The US dollar index, which tracks … “US Dollar Falters Backed by Poor Wage Growth Against Positive Job Growth for January”
Jan NFP: ‘Market Is Trading Off Of The Wage Number’;
The NFP was mixed and caused choppy yet range-bound trading on EUR/USD. Where next for the dollar? Here is their view, courtesy of eFXnews: It’s been a happy new year for the US economy so far, with animal spirits perking up and hiring looking robust. The pace of non-farm payrolls gains accelerated to 227k in January, from … “Jan NFP: ‘Market Is Trading Off Of The Wage Number’;”
Monetary Tightening Spurs Appreciation of Chinese Yuan
The Chinese yuan gained on the US dollar today after China’s central bank tightened its monetary policy. The monetary tightening overshadowed the slowdown of growth of the manufacturing sector. The People’s Bank of China raised its short-term interest rates on Thursday. Some analysts speculated that it is a sign that the central bank wants to prevent the currency from weakening too much. The Caixin manufacturing Purchasing Managers’ Index registered a reading of 51.0 … “Monetary Tightening Spurs Appreciation of Chinese Yuan”
Amazing Trade Data Supports Australian Dollar
The Australian dollar fell against its US peer but was otherwise firm thanks to the amazing trade data released from Australia during the trading session. Australia’s trade balance demonstrated a surplus of A$3.51 billion in December, which was the biggest since 2010. Seasonally adjusted building approvals fell 1.2% in December from November, which was a better reading than the 1.7% drop predicted by analysts. The Australian Industry Group … “Amazing Trade Data Supports Australian Dollar”
3 reasons to sell the dollar after the recent correction
The US dollar is off its lows against major currencies, with EUR/USD trading at 1.0750, USD/JPY at 113.20 and GBP/USD licking its wounds at 1.2530. Here are reasons why this could be a selling opportunity on the USD: This is only a correction: The greenback gained strength without any clear event related to the move. A … “3 reasons to sell the dollar after the recent correction”
US Dollar Edges Lower as Uncertainty Towards Trump Looms
The US dollar moved lower against major rivals on Thursday, pushing an index that tracks the currencyâs strength to its lowest level since November 2016. The greenback weakened as the Federal Reserveâs dovish tone in its latest policy statement signaled that no interest rate hike would happen in March. Currency traders remained reluctant to buy the dollar as uncertainty towards the recently inaugurated president Donald Trump increased following a call … “US Dollar Edges Lower as Uncertainty Towards Trump Looms”