Posts Tagged ‘Employment Data’

Sigh of relief on euro debt crisis, euro holds steady

Posted by Tushar Mathur on December 3rd, 2011

Traders and investors on the euro debt crisis have breathed a sigh of relief as the euro holds strong against dollar and yen. The sales rate of the European bonds has raised their confidence level in the debt. Now it is $1.3456 and 104.68 yen per euro in the forex market trade in the afternoon in Tokyo.

Nevertheless on Thursday in the close on New York trade it was $1.3456 and 104.56 yen per euro. Dollar has risen for about 0.13 yen, which is 77.79 yen from 77.66 yen. The release of the US nonfarm payrolls data will make vast difference in the world’s biggest economy.

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Australian Dollar Rallies on Interest Rate Outlook

Posted by admin on January 15th, 2010

Once again interest rates are fueling a rally for the Aussie dollar as it happened in the second half of the last year, when the South Pacific currency ranked among the best performing options in foreign-exchange markets. Positive employment data published in Australia this Wednesday is helping the Aussie to rally to high levels versus most of the main traded currencies, as a declining unemployment rate, currently at 5.5 percent and much better than other key-economic regions in the world, is fueling speculations that interest rates will be once again hiked in the country next month.

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Yen Tumbles as Australia Fuels Risk Rally

Posted by admin on January 14th, 2010

The Japanese currency declined in the beginning of this Thursday’s session on Australia’s better than expected employment data, which increased attractiveness for riskier assets as the South Pacific economy recovery improves confidence among traders. The yen, known as the best refuge currency for times of uncertainty, declined today as unemployment surprisingly fell in Australia, bringing Japanese investors to buy riskier assets overseas, as the Australian economic recovery indicates better economic conditions not only in the South Pacific region but also among its main trading partners. AUD/JPY traded at 85.01 as of 02:35 GMT from a previous rate of 83.89 in the intraday chart.

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Payrolls Cause Dollar’s Weekly Decline

Posted by admin on January 9th, 2010

The U.S. currency was performing quite well during most of this week’s session as optimism regarding the U.S. economy was high, but the employment data published on Friday forced the greenback down versus most of the main traded currencies, as figures came much below forecasts. The dollar posted the biggest weekly in two months as a non-farm payrolls report indicated more jobs cuts than expected, frustrating forecasts and declining odds that the Federal Reserve will lift stimulus and start a series of interest rate hikes that would happen sooner-than-expected, as some speculations suggested, if the economy accelerated at a faster pace.

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Canadian Dollar Near 2-Month High on Oil

Posted by admin on January 9th, 2010

The Canadian dollar returned to gain today as its chief export, the crude oil, rallied as demand for energy increases, favoring currencies with a similar profile in foreign-exchange markets as the Australian dollar, which is a main commodity supplier for China. The loonie, as the Canadian dollar is often referred, had the fourth day of advances in this week as the crude oil returned to trade high in commodity markets closing future contracts near $ 83 a barrel, helping the Canadian dollar to rally specially versus its U.S. counterpart as frustrating employment data declined attractiveness for the greenback during most of today’s session in North America.

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Aussie edged higher vs the pound again yesterday, but sterling has rebounded following upbeat comments from a BoE policymaker

Posted by admin on October 15th, 2009

The aussie edged higher yesterday as continued strong demand for the high-yielding currency offset positive employment data in the UK. The UK currency found early support following better-than-expected employment data that revealed the rate of people claiming benefit allowance was declining.However, the news was unable to buoy a broadly weaker pound, with investors continuing to be attracted by the recent rate rise and general positive sentiment surrounding the Australian economy. The aussie also took advantage of rallying equity markets, which took their lead from better-than-expected quarterly earnings at JP Morgan reinforcing the notion that economic conditions are improving.

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Sterling is making strong headway against a weakened dollar, advancing towards 1.62

Posted by admin on October 15th, 2009

Sterling made strong gains in early trading yesterday following better-than-expected employment data, but the price pulled back to close up 0.4% at $1.5980. The number of UK jobless claiming unemployment benefit rose by 20.8K in September, less than the forecast figure of 25.1K, and the smallest rise since May 2008, enabling the pound to post an intra-week high of $1.6022. The greenback also suffered from comments made on Tuesday evening from Fed Vice Chairman Donald Kohn, which supported speculation that the dollar downtrend will be broad and continuous for some time to come.However, the dollar trimmed its losses in the afternoon following a drop in sales figures.

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Euro advanced against the greenback, buoyed by a relatively upbeat ECB rate statement

Posted by admin on October 9th, 2009

The single currency climbed to a two week high of 1.4815 yesterday as investors continued to sell the dollar to fund riskier trades. The single currency returned to its recent upward trend, initially climbing half a percent, as investors took up dollar selling in the wake of further evidence of global economic recovery. Australian employment data revealed a rise in jobs in September, reinforcing risk appetite and triggering broad dollar selling as its haven appeal weakened. The single currency held its gains in the afternoon after the European Central Bank left interest rates unchanged at a record low 1.0%, as the market expected.

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Pound advanced vs a weakened dollar yesterday, supported too by a hold in the UK’s QE programme

Posted by admin on October 9th, 2009

The pound climbed just over a cent (0.6%) against the dollar, buoyed by the BoE’s decision to keep its assets purchase scheme on hold.In early trading sterling moved up against a broadly weak dollar, supported by expectations that the BoE would keep interest rates unchanged and maintain its current level of quantitative easing. The dollar also came under pressure, falling broadly as rising equity markets fuelled demand for riskier assets at the expense of the safe haven US currency. Dollar selling was led by positive employment data in Australia, which spurred investors to relinquish positions in the greenback in favour of higher-yield currencies, favouring an upward movement in the sterling/dollar pair.

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Kiwi halted its climb yesterday, as demand for higher-yeilding currencies weakened

Posted by admin on October 8th, 2009

Sterling reversed a three-day decline against the kiwi, posting marginal gains following a rise in risk aversion, closing the day at 2.1682. It was a choppy session for sterling, which initially dropped to a low of 2.1476 in early trading, as a lack of major economic data gave support to the higher-yielding currency. However, having dipped, the pound rebounded strongly, regaining over two cents as global equities backed off to trade in the red. Weak European stocks were followed in by the US markets, easing risk appetite and allowing the UK currency to stabilize in the afternoon, consolidating its position above 2.1650.

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Weak equities undermined the aussie’s upward trend yesterday allowing the pound to post marginal gains

Posted by admin on October 8th, 2009

The pound rebounded nearly two cents from its intra-day low against the aussie, halting its sharp slide and posting marginal gains of 0.2%, to close the day up at 1.7912. The Australian dollar has rallied strongly over the past two days following the surprise rate hike, but the aussie pulled backed yesterday as risk sentiment in the market dissipated. The high-yielding currency backtracked as equities took a downward turn and as investors sought defensive positions ahead of important statements in the UK and EU today. Additionally, analysts noted that market players may have over-bought the aussie, realising that it was only one central bank to raise rates and that similar moves from other nations may still be some way off.

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Investors were cautious yesterday ahead of an ECB rate decision, but the euro has rebounded this morning

Posted by admin on October 8th, 2009

The euro relinquished some of its recent gains against the greenback yesterday, with investors on the defensive ahead of the ECB rate decision today. A broadly stronger dollar was the currency of choice yesterday as investors trimmed “riskier” positions in favour of the haven currency as equities slipped into the red, easing risk appetite.The dollar also benefited after a US official said raising interest rates would not derail the US economic recovery. “Even if we were to start immediately, much time would pass before incremental increases could be considered tight or even neutral policy.Additionally analysts noted that the greenback was being supported by speculation that the dollar’s decline may have been too fast to sustain.In trading this morning, the greenback has come under pressure after Australian employment data reinforced demand for higher-yielding assets. The ECB are widely expected to announce today at 12:45BST that interest rates in the eurozone will remain at a record low of 1.0%, though the tone of the accompanying statement is likely to reflect growing optimism over the state of economic recovery in the region.

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Sterling edged up against a broadly weaker dollar ahead of important central bank announcements

Posted by admin on October 8th, 2009

The pound reversed its steady decline against the greenback yesterday as investors relinquished defensive positions ahead of today’s MPC announcement. Cautious investors initially sought safety ahead of the two key central bank meetings today, putting pressure on the UK currency. Additionally, in an interview, Kansas City Federal Reserve President Thomas Hoenig said that the US central bank should start raising interest rates “sooner rather than later,” which buoyed confidence in the US economy. However, the greenback’s gains were limited, with the pound rebounding a cent from its intra-day low as investors felt that the market had gone too short on sterling positions ahead of today’s statements.

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A strong kiwi dollar shrugged off weak data from the US to post gains against sterling on Friday

Posted by admin on October 5th, 2009

Sterling relinquished gains against the kiwi dollar on Friday, as concerns mounted over the strength of the global recovery, with the price closing the week at 2.2269. Following the release of worse-than-expected jobs data in the US, risk adverse investors bought into dollar and yen havens on Friday, weakening the higher-yielding, ‘risky’ assets. However, the kiwi rebounded strongly in afternoon trading, as investors turned bearish in their sentiment towards the US recovery. The weak employment data added to concerns that the US recovery is struggling to take hold, and, after an initially flurry of dollar buying, many investors opted against the relative ‘safety’ of US assets.

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A rise in risk aversion weighed on the pound on Friday, supporting dollar gains

Posted by admin on October 5th, 2009

The pound slid against the dollar on Friday, completing its third straight weekly decline, as demand for the haven currency found support from weak US employment data.In early trading, risk appetite was down, with investors taking up defensive positions ahead of an expected rise in US unemployment figures. However with weak data already priced into the market, the pound avoided a further sell off after data confirmed an increase in jobless figures that brought overall unemployment in the US to 9.8%. The data did trigger a sharp fall in major stock indices, with traders concerned that the global recovery is struggling to find momentum.

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