The Canadian dollar today rallied against its US counterpart triggered by the disappointing US non-farm payroll data released by the Bureau of Labor Statistics. The positive Canadian labor productivity data and the trade deficit figures released by Statistics Canada boosted the Loonie against the greenback. The currency pair lose over 60 points at the height of its decline although it retraced some of its loses severally before continuing on a downward trend. The Canadian dollar … “Canadian Dollar Rallies Against US Dollar on Poor NFP Data”
Month: June 2017
EUR/USD Rallies to New Highs on Disappointing NFP Report
The EUR/USD currency pair today rallied to new highs during the American session after the release of disappointing non-farm payroll data by the Bureau of Labor Statistics. The pair’s rally was also influenced by other labor market reports such as the change in manufacturing payrolls, and the weak average hourly earnings. The currency pair gained over 70 points in a span of an hour after the release of the non-farm payroll report. The euro gained against the US dollar given … “EUR/USD Rallies to New Highs on Disappointing NFP Report”
![GBP/USD: Every poll pulls the pound [Video]](https://investinearth.org/wp-content/uploads/2017/06/Fotolia_78551342_XS-346x185-2.jpg)
GBP/USD: Every poll pulls the pound [Video]
After campaigning was suspended due to the terror attack, the UK is in full election mode. Every opinion poll matters. PM May wants a landslide victory to give her a full mandate. Markets hope that a full mandate means a softer Brexit. However, opinion polls show a closer race. Will it be a narrow majority … “GBP/USD: Every poll pulls the pound [Video]”
Australian Dollar Gains, Fighting Off Adverse Fundamentals
The Australian dollar gained today, and that was surprising as fundamentals did not look good for riskier commodity-related currencies. Crude oil slumped more than 2% today, and falling oil prices usually have an adverse impact on commodity currencies, like the Aussie. Additionally, traders anticipate today’s US nonfarm payrolls to show a solid gain of employment, and that should have propelled the US dollar higher at the expense of other currencies, especially … “Australian Dollar Gains, Fighting Off Adverse Fundamentals”
Pound Drops, Ignoring Positive Construction Data
The Great Britain pound dropped today even though macroeconomic data released in the United Kingdom over the current sessions was good. The IHS Markit/CIPS UK Construction PMI climbed from 53.1 in April to 56.0 in May, which was a far better result than a drop to 52.7 predicted by analysts. The report followed yesterday’s release of the IHS Markit/CIPS UK Manufacturing PMI, which showed a small decrease to 56.7 in May from the April’s … “Pound Drops, Ignoring Positive Construction Data”
GBP: Into & Beyond The June-8 Elections – Credit
The British pound is moving on every opinion poll related to the elections. What’s next? Here is their view, courtesy of eFXnews: Credit Agricole CIB FX Strategy Research expects the Conservatives to extend their parliamentary majority as a result of the 8 June election, strengthening PM May’s position ahead of the Brexit negotiations. “Median polls since the election was … “GBP: Into & Beyond The June-8 Elections – Credit”
US Dollar Climbs Against Euro as Labor Market Conditions Improve
The US dollar rose against the euro on Thursday following a new report on the conditions of the US labor market, which revealed numbers that beat estimates. The greenback was further supported by data showing strong industrial activity in May as new orders and employment increased. The ADP Research Institute published a report at 12:15 GMT today that said that the US private sector hired 253,000 new employees in May from 174,000 in April. … “US Dollar Climbs Against Euro as Labor Market Conditions Improve”
Non-Farm Payrolls preview: all about the money – 3
The May 2017 Non-Farm Payrolls report is critical for the June decision. If the Federal Reserve is truly data dependent, this is the most important data point. The Non-Farm Payrolls, aka NFP, or “king of forex indicators” is coming on the first Friday of the month, and wages matter a lot more than the actual job … “Non-Farm Payrolls preview: all about the money – 3”
ADP NFP beat with a whopping 253K – USD extends recovery
A big beat in the ADP Non-Farm Payrolls: no less than 253K private sector jobs were added in May according to the company. This could raise expectations for the official BLS NFP on Friday. But what does it mean for wages? We will probably have to wait. But at least for now, the USD is enjoying nice … “ADP NFP beat with a whopping 253K – USD extends recovery”
NZ Dollar Posts Limited Losses, Attempts to Bounce vs. Euro
The New Zealand dollar fell today, but its losses were limited. In fact, the currency almost erased the decline versus the euro. New Zealand overseas trade rose 5.1% in the March quarter from the previous three months. While the growth was slower than 5.8% in the December quarter, it was still above the analysts’ median projection of 4.0%. The report was not that bad, which means the drop of the New Zealand … “NZ Dollar Posts Limited Losses, Attempts to Bounce vs. Euro”