The Canadian dollar today declined against its US counterpart after the release of positive US non-farm payrolls data and a better than expected US trade deficit. Statistics Canada also reported that the country added more jobs than expected, but Canada’s trade deficit was higher than expected resulting in a weaker loonie. The USD/CAD currency pair gained over 100 points at the height of its rally after the release … “Canadian Dollar Declines Against US Dollar on Positive NFP”
Author: admin_mm
Euro Little Changed as Data Mixed, Traders Wait for NFP
The euro was little changed during the current trading session as economic data released in the eurozone was mixed. Besides, traders were cautious of adding positions ahead of US nonfarm payrolls due to release later today. German factory orders rose 1.0% in June from the previous month (adjusted to season variations), more than analysts had predicted — 0.6%. Italian retail sales increased 0.6% in June from May, also … “Euro Little Changed as Data Mixed, Traders Wait for NFP”
Australian Dollar Gains Following Retail Sales & RBA Statement
The Australian dollar rose against its most traded rivals today following the release of retail sales data and the Monetary Policy Statement from the Reserve Bank of Australia. Australian retail sales rose 0.3% in June from the previous month, above the consensus forecast of 0.2%. The indicator provided a positive surprise for the third month in a row. Meanwhile, the RBA was fairly optimistic in its Statement, saying: Domestic economic data have been mostly … “Australian Dollar Gains Following Retail Sales & RBA Statement”
GBP post BOE – can it continue falling?
The pound suffered from the BOE’s rate decision. The following press conference by Carney did not help. Yet this may not be the end of it. Can the pound continue falling? GBP/USD and EUR/GBP come into play: GBP: A Dovish Twist From BoE; EUR/GBP Set To Gain Further – Danske Danske Bank Research still views … “GBP post BOE – can it continue falling?”
USD/CAD Trims Gains as Traders Are Getting Ready for Friday’s Releases
The Canadian dollar trimmed losses versus its US counterpart as traders were getting ready for tomorrow’s employment data in the United States and Canada. The loonie was weak against other majors as crude oil dropped. Market participants wait for tomorrow’s nonfarm payrolls, hoping that the employment report will give hints whether the US economy is robust enough for the Federal Reserve to continue monetary tightening. Reports released earlier this … “USD/CAD Trims Gains as Traders Are Getting Ready for Friday’s Releases”
US Dollar Remains near Lowest Level in 3 Years as Business Activity Lags Behind Forecast
The US dollar weakened against the euro on Thursday to remain near its lowest level in almost 3 years. A fresh data release that revealed lagging business activity in the United States added to mounting evidence that economic growth is losing momentum, which weighed on the greenback. The non-manufacturing purchasing managersâ index from the Institute for Supply Management lost 3.5 points, from 57.4 in June to 53.9 in July, according to a report published … “US Dollar Remains near Lowest Level in 3 Years as Business Activity Lags Behind Forecast”
Euro Rallies Higher Against US Dollar on Weak US ISM Data
The euro today rallied higher against the US dollar after the release of weak US ISM Services/Non-Manufacturing Composite data during the North American session. The EUR/USD currency pair was largely trading sideways during most of the European session due to the release of mixed Markit data from the Eurozone. The EUR/USD currency pair rallied to daily highs above 1.1870 after the release of the weak US ISM data. The Markit Italy Services PMI … “Euro Rallies Higher Against US Dollar on Weak US ISM Data”
British Pound Plunges Against US Dollar on BoE Rate Decision
The British pound today plunged to new lows after the Bank of England left its rates unchanged, while cutting the UK’s growth forecasts for this year. The pound hit new lows against the US dollar after the speech by the BOE Governor, Mark Carney, which painted a dovish economic outlook in relation to Brexit. The GBP/USD currency pair hit a yearly high of 1.3269 before the sharp drop witnessed after Mark Carney’s speech, … “British Pound Plunges Against US Dollar on BoE Rate Decision”
Czech Koruna Advances After First Interest Rate Hike in Almost a Decade
The Czech koruna advanced against the US dollar today after the central bank decided to hike its key two-week repo rate. The Czech National Bank raised its main interest rate by 20 basis points to 0.25% and the Lombard rate by 25 basis points to 0.50%, while keeping the discount rate unchanged at 0.05%. Such decision was expected by some analysts. It the first change in borrowing costs since November 2012 … “Czech Koruna Advances After First Interest Rate Hike in Almost a Decade”
Australian Dollar Falls Along with Trade Surplus
The Australian dollar dropped today as the trade balance turned out to be worse than economists expected. The improving services industry did not help the currency. Australia’s trade surplus shrank from A$2.02 billion in May to A$0.86 billion in June on a seasonally adjusted basis. The actual value was far below A$1.78 billion predicted by analysts. Meanwhile, the Australian Industry Group Australian Performance of Services Index climbed from 54.8 in June … “Australian Dollar Falls Along with Trade Surplus”