The US employment report beat expectations on jobs and participation. President Trump can celebrate the low unemployment rate again. However, further Fed hikes may push stocks lower. The US Non-Farm Payrolls report for November beat expectations with a gain of 250,000 positions, well above averages of under 200,000 and early expectations. Net revisions were flat. Another piece … “NFP: Trump will not be happy with the numbers if stocks fall”
Author: admin_mm
Japanese Yen Rallies on Industrial Strength, Rebounding Exports
The Japanese yen is strengthening against its US counterpart on Thursday after new data found that domestic industrial output is at a four-month high and exports have returned to normal growth. The yenâs gains were likely capped on slower retail sales growth. According to the Markit/Nikkei Japan Manufacturing Purchasing Managersâ Index (PMI), activity expanded at the fastest pace since June, reaching to a seasonally adjusted 52.9 in October, up from … “Japanese Yen Rallies on Industrial Strength, Rebounding Exports”
Pound Rallies to New Highs on Brexit Rumors and BoE Rate Decision
The British pound today rallied to new highs against the US dollar following Brexit rumors that the British PM Theresa May had signed a deal with the EU on the financial services sector. The pound was further boosted by the Bank of England‘s monetary policy decision, which helped it rally against the greenback despite mixed … “Pound Rallies to New Highs on Brexit Rumors and BoE Rate Decision”
Why Crypto Brains are Betting on a November Rally
It’s November and the predicted “bull-run” for Bitcoin is imminent. There are a lot of excellent reasons to expect the prediction could be correct, but we shouldn’t all jump in before the indicators are right. If you’ve not joined the crypto space yet, perhaps now is the time. Experts and amateurs alike can make predictions … “Why Crypto Brains are Betting on a November Rally”
US Dollar Weakens Despite Strong Jobs Numbers, Higher Wages
The US dollar is weakening against some of its counterparts midweek, despite several bullish indicators to suggest the economy is still strong. The labor market remains healthy, wages are climbing, and business confidence continues to jump. The greenback might be taking a breather after rallying earlier this week. According to ADP, the US private sector created 227,000 new jobs, beating market forecasts of 1780,000. The ADP also revised … “US Dollar Weakens Despite Strong Jobs Numbers, Higher Wages”
Canadian Dollar Soft Despite Expanding GDP
The Canadian dollar gained today despite better-than-expected growth of Canada’s economy. The possible reasons for the weakness were: the strength of the US dollar, the decline of crude oil prices, and other macroeconomic indicators, some of which were not that good. Statistics Canada reported that gross domestic product increased 0.1% in August, rising for the seventh consecutive month. While that was a small slowdown from the July’s 0.2% rate of growth, the reading was … “Canadian Dollar Soft Despite Expanding GDP”
Euro Drops Further Driven by Political Uncertainty and Weak Data
The euro today fell to new lows last seen in mid-August against the US dollar as the political uncertainty in key eurozone countries such as Germany and Italy weighed on the single currency. The release of mixed macro data from the euro area combined with the strong employment data from the USA also added to … “Euro Drops Further Driven by Political Uncertainty and Weak Data”
Japanese Yen Mixed After BoJ Meeting
The Japanese yen was mixed today, falling against some of its major rivals but rising against others. The Bank of Japan concluded its two-day policy meeting today and released its economic projections. The Bank of Japan left its monetary policy unchanged, surprising no one, with the main interest rate remaining at -0.1% and the size of asset purchases staying the same. The central bank made some downward revisions to its … “Japanese Yen Mixed After BoJ Meeting”
NZ Dollar Fails to Maintain Rally Despite Improving Business Confidence
The New Zealand dollar attempted to rally earlier today but failed and moved below the opening level. The slight improvement of the business confidence was not enough to support the currency. The ANZ Business Confidence Index rose to -37.1 in October from -38.3 in September. The retail sector demonstrated the biggest bounce but remained the worst performer. The manufacturing sector was the most optimistic. NZD/USD fell from 0.6553 to 0.6532 as of 13:21 GMT today after … “NZ Dollar Fails to Maintain Rally Despite Improving Business Confidence”
Australian Dollar Rebounds After Falling on China’s Data
The Australian dollar dipped intraday following the economic releases in Australia and China. While Australia’s indicators were within expectations, China’s reports were disappointing. The currency has rebounded by now, trading near the opening level. The Australian Bureau of Statistics reported that both the headline Consumer Price Index and the trimmed mean CPI rose by 0.4% in the September quarter of 2018 from the previous three months. Analysts had predicted a bit bigger increase … “Australian Dollar Rebounds After Falling on China’s Data”