The US dollar demonstrated extremely volatile reaction to nonfarm payrolls, falling then rebounding immediately. As it was usual lately, the employment report did not produce a clear picture of the US labor market, having both good and bad parts. On one hand, the report from the Bureau of Labor Statistics showed an increase of employment by healthy 196,000 in March, which was above the consensus forecast of 172,000. The February abysmal figure of 20,000 got … “US Dollar Volatile After Nonfarm Payrolls”
Month: April 2019
Japanese Yen Moves Sideways, Economic Data Gives No Direction
The Japanese yen traded sideways today as markets were lying in wait for US nonfarm payrolls. Domestic macroeconomic data was somewhat mixed, giving the Japanese currency no direction. Japan’s Cabinet Office reported that the leading index rose to 97.4% in February from 96.5% in January, in line with expectations. The Statistics Bureau reported that household spending increased by 1.7% in February over a year versus the forecast of a 1.9% increase and the 2.0% … “Japanese Yen Moves Sideways, Economic Data Gives No Direction”
Australian Dollar Flat After Macroeconomic Data
The Australian dollar traded about flat today after the release of positive macroeconomic data. Traders were reluctant to make big bets ahead of very important US nonfarm payrolls. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index rose to 45.6 in March from 43.8 in February. While the index remained below the neutral 50.0 level, indicating contraction of the sector, the higher figure meant that the decline … “Australian Dollar Flat After Macroeconomic Data”
Euro Rallies on German Industrial Data, Later Trades Sideways
The euro today rallied higher following the release of German industrial production data in the early European session as the print beat expectations. The EUR/USD currency pair later traded sideways amid a lack of any fundamental triggers as investors waited for the non-farm payrolls report. The EUR/USD currency pair today rallied from an opening low … “Euro Rallies on German Industrial Data, Later Trades Sideways”
USD/CAD: The Canadian jobs report has room to lift CAD
After a winning streak of Canadian jobs reports, expectations are low this time. Alongside the risk-on atmosphere, the Canadian Dollar has room to rise. The US Non-Farm Payrolls could complicate the price action. Canada publishes its labor market report for March on April 5th, at 12:30 GMT. The nation enjoyed a winning streak of surprisingly strong … “USD/CAD: The Canadian jobs report has room to lift CAD”
AUD/JPY Again at the Edge of the Flat
The Australian dollar vs. Japanese yen is developing at the resistance area where all the peaks of 2019 had formed. Of course, what will it do this time is the most interesting part of all. Long-term perspective Since the second half of January 2019, the pair evolves in a flat limited by 77.47 as support and 79.41 as resistance. Even thought the retracements from the support are fairly strong, the resistance manages to decrease the volatility of the price … “AUD/JPY Again at the Edge of the Flat”
7 reasons for the crypto surge and why it can continue
Cryptocurrencies have surged and held onto most of their gains. There are seven reasons behind the move that caught some by surprise. There are good reasons to believe the rally will continue. Bitcoin has not seen the $5,000 mark since November 2018, and now it happened. Ethereum also enjoyed a rally and even Ripple eventually advanced. The leap initially seemed … “7 reasons for the crypto surge and why it can continue”
Japanese Yen Struggles for Direction Amid Mixed Data
The Japanese yen is mixed against a handful of currency rivals on Thursday as a plethora of recent data could not prove the national economy was expanding or contracting. Policymakers also delved into the latest Modern Monetary Theory (MMT) proposal that is gaining steam in the US. According to the Bank of Japan (BOJ), economic output exceeded its full capacity in the fourth quarter last year by the most in nearly three decades. The central bank … “Japanese Yen Struggles for Direction Amid Mixed Data”
US Dollar Firm As Unemployment Claims Lowest in Almost 50 Years
The US dollar was firm today, supported by the unexpected drop of claims for unemployment benefits. Optimism about the upcoming meeting of the leaders of the United States and China was also contributing to the strength of the US currency. The US Department of Labor reported that the seasonally adjusted number of initial jobless claims dropped to 202,000 last week from the previous week’s revised figure of 212,000. That is instead of an increase to 215,000 predicted by economists. As a result, the unemployment … “US Dollar Firm As Unemployment Claims Lowest in Almost 50 Years”
Loonie Attempts Rally Against US Dollar on Upbeat Canadian Ivey PMI
The Canadian dollar today attempted to rally higher against its US counterpart in the American session after the release of the upbeat Canadian Ivey PMI data. The USD/CAD currency pair today traded mostly directionless amid a lack of fundamental triggers to push the pair decisively in any direction. The USD/CAD currency pair today rallied from … “Loonie Attempts Rally Against US Dollar on Upbeat Canadian Ivey PMI”