The Turkish lira slumped against the US dollar as relationships between the United States and Turkey deteriorated after the arrest of a US consulate worker. Relationships between the two countries strained after last week the Middle Eastern country arrested a Turkish citizen working in the US consulate over the alleged ties to last year’s failed coup to remove President Recep Tayyip Erdogan from power. Today, another consulate worker was arrested. The USA … “Lira Slumps amid Tensions Between USA & Turkey”
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US Dollar Ends Week as Strongest Currency Despite Falling Employment
The US dollar ended the week as the strongest major currency as market participants considered an interest rate hike from the Federal Reserve in December almost guaranteed. Nonfarm payrolls provided a nasty surprise, showing the first decline of employment since September 2010. Yet the report explained that the reading was heavily influenced by two hurricanes, thus markets disregarded the drop as just a temporary phenomenon. Other components of the report were very good as the unemployment … “US Dollar Ends Week as Strongest Currency Despite Falling Employment”
GBP: Trading Politics Or Trading The BoE – Nomura
GBP/USD shot higher, topping 1.36, on the BOE’s bullish stance. It then dropped on political uncertainty regarding May’s future and Brexit talks. What’s next? Here is their view, courtesy of eFXnews: Nomura FX Strategy Research notes that the GBP has underperformed in the G10 space this week as negative headlines from the Conservative Party conference, … “GBP: Trading Politics Or Trading The BoE – Nomura”
Canadian jobs report to keep the BOC on hold until 2018
The Canadian jobs report produced a small miss on the headline change in jobs but also consisted of a big jump in full-time jobs. What does it mean going forward? The team at CIBC sees the BOC staying on hold through 2017. CIBC Research comments on today Canad’a September jobs report: Here is their view, … “Canadian jobs report to keep the BOC on hold until 2018”
USD/CAD Rallies Briefly on Mixed Employment Data from Canada
The USD/CAD currency pair today rallied higher briefly after the release of mixed data from both the Canadian and USA dockets. The release of the Canadian labour force survey and the US nonfarm payrolls buffeted the currency pair causing it to rally, then quickly decline. The USD/CAD currency pair rallied higher briefly to hit a high of 1.2598, before quickly declining to hit a low of 1.2539, then retraced some of its losses. The release of the Canadian … “USD/CAD Rallies Briefly on Mixed Employment Data from Canada”
US Dollar Climbs Against Euro as Catalonian Crisis Escalates
The US dollar rose against the euro on Friday as domestic political troubles in Spain showed no sign of an end, which continued to weigh on the shared currency. However, the greenback lost some of its upward momentum today following the release of disappointing payroll data. The Catalonian fight for independence from Spain escalated as separatists in the region appeared to be moving toward direct confrontation. Protests broke out across Catalonia following an independence referendum on Sunday. … “US Dollar Climbs Against Euro as Catalonian Crisis Escalates”
US Dollar Gains as Data Supports Outlook for Fed’s Hike
The US dollar rallied against a basket of major currencies today as positive economic data released in the United States over the trading session reinforced the case for an interest rate hike from the Federal Reserve. Basically all US economic reports released on Thursday were good, meeting or exceeding expectations. The data showed that the US economy was robust, and that was especially notable after the damage done by the Hurricanes Harvey and Irma. It … “US Dollar Gains as Data Supports Outlook for Fed’s Hike”
Euro Sinks to New Lows Against US Dollar After ECB Minutes
The euro sunk to new lows against the US dollar today after the European Central Bank published the minutes of its September monetary policy meeting. Several releases from the US docket, such as the positive initial jobless claims data, served to drive the EUR/USD currency pair lower. The EUR/USD currency pair lost about 70 points from its daily high of 1.1781 reached during the early European session to trade at much … “Euro Sinks to New Lows Against US Dollar After ECB Minutes”
Swiss Franc Soft Despite Accelerating Inflation
The Swiss franc was not particularly strong today and actually fell against other safe-haven currencies even though the report released during the trading session showed that inflation accelerated in Switzerland last month. The Federal Statistical Office reported that the consumer price index increased 0.2% in September. That is compared to zero change registered in the preceding month and in line with market expectations. The franc was not profiting from … “Swiss Franc Soft Despite Accelerating Inflation”
Australian Dollar Falls Against US Peer on Weak Retail Data
The Australian dollar declined against its US counterpart on Thursday after a fresh report that showed that Australian retail sales fell behind expectations for the second month in a row. The Australian dollar also dropped against other major peers as expectations for higher interest rates decreased following todayâs data. The Australian Bureau of Statistics stated in a release today that retail sales lost 0.6% in August on a seasonally adjusted basis, after … “Australian Dollar Falls Against US Peer on Weak Retail Data”