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Risk-aversion dominated the headlines at the end of the week with the euro tumbling beneath the 1.20-level against the dollar to a fresh 4-year low at 1.1974. The major US equity bourses were sharply lower as the much-anticipated May labor report missed estimates, dragging the Dow Jones, S&P 500 and Nasaq all lower by around [...]
US thought to have created 513K jobs for May! Markets saw a strong USD yesterday as stock markets started with a negative tone and risk appetite was low. We had a couple of important announcements with results coming in at or just below expectations. Non Manufacturing ISM came in at 55.4 indicating the services sector’s [...]
CURRENCY TRADING SUMMARY – 4th June (00:30 GMT) U.S. Dollar Trading (USD) risk was on in Asia before the fizzling in the US session on subdued job numbers. May ADP private employment was at 55k vs 60k forecast and Weekly Jobless Claims were at 453k vs. 450k forecast. In US stocks, DJIA +5 points closing [...]
USD: Higher, improving risk appetite as equity markets rally, hawkish rate comments from Fed’s Lockhart JPY: Lower, political uncertainty, CAPEX spending drops EUR: Lower, EU retail sales decline and services PMI growth slows GBP: Lower, houses prices rise and services PMI improves, Moody’s and Fitch downgrade BP CAD and AUD: AUD & CAD higher, Australian [...]
FX Highlights The USD is trading marginally lower as global equity markets rally to a two week high supported by upbeat US economic data and optimism about the global recovery, EUR gains limited by report of weak EU retail sales, GBP rallies in reaction to report of rising UK house prices with gains limited by [...]
Japanese Yen weakens on Hatoyama’s resignation! Markets experienced a weaker dollar across the board yesterday as risk appetite picked up and a bottom is thought to have been formed in both risk currencies and equity markets. Equities closed above 2% as pending home sales surprised the markets and came in at a 6% gain with [...]
For the second consecutive trading day, the Japanese Yen slipped broadly following the strong rebound in the global equity markets which sent investors in search of high yielding currencies.
CURRENCY TRADING SUMMARY – 3rd June (00:30 GMT) U.S. Dollar Trading (USD) was on the back foot after the US stock market staged an impressive rally after Asian and European stocks were quite weak. The exception was the Yen however as Japanese PM Hatoyama resigned and the search for a new leader began. April Pending [...]
US employment grew at its fastest pace in four years in April with nonfarm payrolls (nfp) reported rising by 290k. The April nfp rise was well above market expectation of a 200k rise. Private sector growth was stronger than expected. The April unemployment report shows that the private sector increased by 231k which was the [...]
USD: Higher, pending home sales rise, Challenger says job cuts back to pre-recession levels JPY: Lower, Japan’s PM resigns, Finance Minister Kan is the likely successor EUR: Lower , EU inflation rises more than expected, Iran to sell EUR reserves GBP: Lower, mortgage approvals rise, construction PMI at a three-year high, King expects inflation to [...]
