The US dollar fell against the euro on Wednesday, as uncertainty between traders about the labor market increased following disappointing employment data today. The greenback also declined against a basket of major currencies amid lower expectations for the official job report on Friday. The ADP Research Institute, which releases a monthly estimate for job gains ahead of government data, said in a report published earlier today that the US private sector hired 178,000 … “US Dollar Falls Against Euro as ADP Employment Data Misses Estimates”
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Euro Gains Against US Dollar on Positive EU PPI and Weak US ADP Reports
The euro today rallied higher against the US dollar after the release of positive EU producer price index data by Eurostat. The EUR/USD pair rallied higher after the release of the US ADP employment report, which was below expectations. The EUR/USD currency pair rose by about 70 points at the height of its rally as the euro gained against the US dollar. The currency pair hit a yearly high of 1.1868, then retraced some of its … “Euro Gains Against US Dollar on Positive EU PPI and Weak US ADP Reports”
Sterling Rallies Ahead of BoE, Ignores Falling Construction Index
The Great Britain pound rallied today against most of its major rivals even as the construction sector was expanding at the slowest pace in nearly a year. The IHS Markit/CIPS UK Construction Purchasing Managersâ Index dropped from 54.8 in June to 51.9 in July — the lowest level since August 2016 and far below analysts’ predictions. The data followed yesterday’s report that showed an increase of the IHS Markit/CIPS UK Manufacturing PMI from 54.2 … “Sterling Rallies Ahead of BoE, Ignores Falling Construction Index”
NZ Dollar Driven Down by Employment Data
The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen. New Zealand employment dropped 0.2% in the June quarter of this year from the previous three months, whereas analysts had expected a substantial increase by 0.7%. At the same time, the unemployment rate decreased from 4.9% to 4.8%, in line with expectations. The Labor Cost … “NZ Dollar Driven Down by Employment Data”
Will the BOE send GBP higher?
The Bank of England convenes amid a rising pound and some better prospects for the economy. Will they provide a hawkish slip? Here are two opinions: Here is their view, courtesy of eFXnews: GBP: A ‘Hawkish Skip’ Likely On Thursday; EUR/GBP Risk-Reward – Nordea Nordea FX Strategy Research notes that Super Thursday is coming up … “Will the BOE send GBP higher?”
Euro Slips Against Major Peers as Lackluster Business Activity Outweighs Robust Economic Growth
The euro slipped against the British pound and the US dollar on Tuesday, as a number of disappointing readings for business activity within the euro zone lead the shared currency lower. The euroâs losses were partly offset in the wake of a report that showed robust economic growth in the European Union during the previous quarter. IHS Markit, a research firm that releases readings for business conditions based on monthly surveys, said in two separate reports today that … “Euro Slips Against Major Peers as Lackluster Business Activity Outweighs Robust Economic Growth”
US Dollar Remains Weak Despite the Release of Mixed US Data
The US dollar today remained weak against its main peers such as the British pound and the euro during the European session. The release of the positive core personal consumption expenditure and the US ISM employment data boosted the greenback slightly during the North American session. The US Dollar Index, which tracks the greenback’s performance against its main peers, was trading above its opening price of 92.89 at the time of writing. This indicates … “US Dollar Remains Weak Despite the Release of Mixed US Data”
Don’t have pity for stubborn US dollar bulls
The EUR/USD’s ascent began in earnest after the result of the first round of the French election was sealed. The pair opened almost a cent and a half higher on the Monday after the election, rewarding euro bets the protectionist Le Pen would be the loser and the euro-centric Macron would push ahead with his … “Don’t have pity for stubborn US dollar bulls”
Chinese Yuan Strengthens as Manufacturing Growth Accelerates
The Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month. The Caixin China General Manufacturing PMI rose from 50.4 in June to 51.1 in July. It showed the fastest pace of growth in four months. Released yesterday, the official manufacturing Purchasing Managers’ Index slipped from 51.7 in June to 51.4 in July. USD/CNY slid 0.1% to 6.72 as of 11:49 … “Chinese Yuan Strengthens as Manufacturing Growth Accelerates”
Australian Dollar Fails to Bounce After RBA Meeting
The Australian dollar went down today after rising at the start of the trading session. The currency attempted to rebound after the central bank’s policy meeting, but the bounce was extremely short-lived. The Reserve Bank of Australia kept its key interest rate at 1.5% at today’s meeting as was widely expected. The central bank was not particularly concerned about slowing inflation, saying: Inflation is expected to pick up gradually as the economy strengthens. … “Australian Dollar Fails to Bounce After RBA Meeting”