The European Central Bank convenes on September 13th and also presents new forecasts. What can we expect? Here is their view, courtesy of eFXdata: Danske Research discusses its expectation for next week’s ECB September policy meeting. “When ECB President Mario Draghi takes the stand next week, we do not expect it to be a big event for EUR/USD. … “EUR: 2 Reasons Why the ECB Not Likely A Big Event For EUR/USD – Danske”
Author: admin_mm
US Dollar Rallies on Strong August Jobs Report
The US dollar is rallying against its major counterparts at the end of the trading week following a better-than-expected August jobs report. The bullish economic report will likely give further ammunition to the Federal Reserve to raise interest rates at its next Federal Open Market Committee (FOMC) policy meeting later this month, a dollar-positive move. According to the Bureau of Labor Statistics (BLS), non-farm payrolls surged 201,000 jobs last month, … “US Dollar Rallies on Strong August Jobs Report”
Canadian Dollar Falls on Weak Employment Data Amid Strong NFP
The Canadian dollar today fell significantly against its US counterpart following the release of the latest Canadian employment data, which missed expectations. The USD/CAD currency pair was also boosted by the resurgent greenback, which was fueled by the upbeat US nonfarm payrolls report released at the same time. The USD/CAD currency pair today rallied from … “Canadian Dollar Falls on Weak Employment Data Amid Strong NFP”
Dollar dominates as Americans get a fatter paycheck
The Non-Farm Payrolls report for August 2018 was upbeat. The US Dollar took advantage of it, in a much needed straightforward reaction. The odds of a rate hike in December have risen. US wages rose 0.4% MoM in August, double the early expectations. The broader YoY measure shows an acceleration from 2.7% to 2.9%, also … “Dollar dominates as Americans get a fatter paycheck”
Japanese Yen Soft After Mixed Data Despite Risk Aversion
The Japanese yen was soft today despite mild risk aversion among Forex traders. Domestic macroeconomic data was mixed, providing no aid to the currency. Household spending rose 0.1% in real terms in July over the year instead of falling 0.9% as analysts had predicted. Average cash earnings rose 1.5% in July from the same month a year ago, missing the analysts’ average estimate of a 2.4% increase. The leading index … “Japanese Yen Soft After Mixed Data Despite Risk Aversion”
Australian Dollar Broadly Lower During Friday’s Trading
The Australian dollar traded broadly lower today. While domestic macroeconomic data was mixed, analysts speculated that persisting risk aversion on the Forex market was the major reason for the currency’s decline. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index slipped from 52.0 to 51.8 in August. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans rose 0.4% July from … “Australian Dollar Broadly Lower During Friday’s Trading”
Japanese Yen Strengthens to One-Week High Despite Typhoon, Earthquake
The Japanese yen is strengthening against its American counterpart on Thursday, despite concerns that the recent typhoon and earthquake that tore through Japan could impact the national economy. The latest weather events are leaving investors fearful of the long-term consequences, especially at a time when the government is trying to stimulate the sluggish economy. Typhoon Jebi struck western Japan earlier this week, leaving 11 people dead and 100s wounded. … “Japanese Yen Strengthens to One-Week High Despite Typhoon, Earthquake”
Swedish Krona Drops After Riksbank Pushes Back Rate Hike Date
The Swedish krona dropped today after Sweden’s central bank kept its benchmark repo rate unchanged and pushed back the planned rate hike to a later date. The Riksbank left its main interest rate at -0.5%, in line with market expectations. The central bank’s statement was rather optimistic, saying: Economic activity in Sweden is strong and inflation is close to the target of 2 per cent. The bank added that it … “Swedish Krona Drops After Riksbank Pushes Back Rate Hike Date”
Swiss Franc Rises on Robust GDP Growth
The Swiss franc gained against most of its major rivals today, boosted by risk aversion and the better-than-expected GDP print. The Swiss Federal Statistics Office reported that gross domestic product grew 0.7% in the second quarter of this year following the 1.0% growth in the first quarter (revised, 0.6% before the revision). Experts had predicted a slower rate of growth — 0.5%. The report stated that the expansion was “at an above-average rate for the fifth quarter … “Swiss Franc Rises on Robust GDP Growth”
Euro Rallies on Weak US ADP Employment Data and Positive Sentiment
The euro today rallied higher against the US dollar following the release of disappointing employment data from the USA in the early American session. The EUR/USD currency pair was trading sideways in the mid-European session following a brief decline during the Asian session largely driven by market sentiment. The EUR/USD currency pair today dropped from … “Euro Rallies on Weak US ADP Employment Data and Positive Sentiment”