Britain’s unemployment rate for June and jobless claims for July will likely remain upbeat. The UK’s labor market has been holding up thanks to the government’s successful furlough scheme. GBP.USD has room to extend the BOE-fueled gains. Pandemic, what pandemic? That may the reaction for anyone looking at the UK’s unemployment rate – a remarkable … “UK Jobs Preview: Feeble figures still furloughed? Another robust report may boost BOE-fueled rally”
Author: admin_mm
GBP/USD: Bear takeover? Upbeat UK GDP may be insufficient amid growing fears
GBP/USD has failed to hold onto the highs amid the BOE decision and Sino-American tensions. The UK jobs report, GDP, the US consumer, and geopolitics are all eyed. Early August’s daily chart is still pointing to overbought conditions. The FX Poll is pointing to short-term gains and falls afterward. The Bank of England’s “glass-half-full” approach … “GBP/USD: Bear takeover? Upbeat UK GDP may be insufficient amid growing fears”
NFP Quick Analysis: Slow hiring downbeat for the dollar, good for gold, no silver lining
The US economy gained 1.763 million jobs in July and the unemployment rate stands at 10.2%. Coronavirus’ impact has proved devastating, pointing to a painful recession. Urge to add stimulus could be countered by another reason to worsen Sino-American relations. A V-shaped recovery? White House adviser Larry Kudlow still touted a rapid bounce as late … “NFP Quick Analysis: Slow hiring downbeat for the dollar, good for gold, no silver lining”
Canadian Dollar Weakens Against US Dollar on Upbeat NFP Data
The Canadian dollar today lost ground against its southern neighbour driven by the upbeat US nonfarm payrolls report for July released in the American session. The USD/CAD traded higher boosted by the risk-off investor sentiment in the face of rising US-China tensions but gave up some of its initial gains as the loonie clawed higher. … “Canadian Dollar Weakens Against US Dollar on Upbeat NFP Data”
US Dollar Gains As Economy Reclaims 1.8 Million Jobs
The US dollar is strengthening against some of its most traded currency competitors to close out the trading week after the US government reported a better-than-expected jobs report. The economy continues to show signs that it is rebounding on the other side of the COVID-19 lockdown. But the labor market is still short 13 million positions that were lost amid the pandemic. According to the Bureau of Labor Statistics (BLS), the US economy … “US Dollar Gains As Economy Reclaims 1.8 Million Jobs”
Euro Falls Against US Dollar Despite Upbeat Euro Area Macro Reports
The euro today fell against the US dollar as investors sold the single currency amid a risk-off market environment as Sino-US tensions skyrocketed on rhetoric from both countries. The EUR/USD currency pair fell despite the release of mostly positive data from across the euro area as investors flocked to the safe-haven greenback. The EUR/USD currency … “Euro Falls Against US Dollar Despite Upbeat Euro Area Macro Reports”
Australian Dollar Soft amid Sino-US Tensions
The Australian dollar was one of the weakest currencies on the Forex market today, driven down by risk aversion caused by increasing geopolitical tensions between the United States and China. Domestic macro releases were decent but that did not provide the currency much help. US President Donald Trump wants to step up the tech war with China by banning TikTok and WeChat, apps owned by Chinese companies. Markets are cautious, … “Australian Dollar Soft amid Sino-US Tensions”
Will the 105.09 Support Hold?
The United States dollar versus the Japanese yen currency pair seems to have lost its steam after a very strong appreciation. Was that all the bulls could do? Long-term perspective The fall from the 109.85 high, which is part of the false piercing of the firm 109.00 resistance level, managed to extend until the 106.12 intermediary level. The latter served as support, propelling the price back above 107.00, another steady level … “Will the 105.09 Support Hold?”
Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar
The euro today traded lower against the US dollar after hitting new 2-year highs last seen in May 2018 earlier in the session to trade almost flat for the session. The EUR/USD currency pair broke above the crucial 1.1900 level but could not stay above the level and fell back as the bears took control of the price action. The EUR/USD currency pair today spiked to a high of 1.1915 before reversing and falling to a low of 1.1818 … “Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar”
British Pound Rises As BoE Leaves Interest Rates, QE Unchanged
The British pound is rising against many of its currency rivals on Thursday after the central bank left interest rates and its aggressive asset-buying program unchanged. But while the decision to hold things steady was widely expected, many analysts are combing through the Bank of England (BoE) headâs remarks that subzero interest rates are in the institutionâs âtoolbox.â During the August policy meeting on Thursday, the BoE voted unanimously … “British Pound Rises As BoE Leaves Interest Rates, QE Unchanged”