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Tag: Currency

US Dollar Takes NFP Hit But Ends Up Higher on the Week

The US dollar fell on Friday after the U.S. non farm payrolls (NFP) came in below expectations with only a gain of 157,000 but otherwise the unemployment rate dropped to 3.9 percent and wage growth remained unchanged at 0.3 percent. The greenback is still higher against most majors on a weekly basis. The past five […]

Dollar Mixed After NFP Miss

U.S. job growth slowed more than expected in July, likely due to companies’ struggles to find qualified workers, and the unemployment rate declined, pointing to tightening labor market conditions. Nonfarm payrolls increased by 157,0000 jobs last month, the Labor Department said on Friday. The unemployment rate fell one-tenth of a percentage point to 3.9 percent […]

Chinese Oil Trading Arm Suspends Imports of US Oil

China’s Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday. The sources declined to be identified as they are not authorized to speak to the media. It […]

AUD/USD edges higher as retail sales beat estimate

Aussie edges higher as retail sales beat estimate AUD/USD is trading marginally up on the day after Australia’s retail sales came in higher than expected in June. Sales rose 0.4% m/m, matching the expansion seen in May and higher than the +0.3% economists had predicted. With June data now available, the summary for the second […]

Dollar Awaits Jobs Report Amid Trade Uncertainty

The US dollar is higher against major pairs on Thursday in anticipation of a strong U.S. non farm payrolls (NFP). The U.S. Federal Reserve kept rates unchanged on Wednesday and without a press conference there was little guidance for the markets who will have to wait until the minutes from the Federal Open Market Committee […]

AUD/USD slides despite jump in trade surplus

Reduced imports the major factor Today’s release of Australia’s trade data for June saw the trade surplus widening dramatically to A$1.87 billion from a revised A$725 million the previous month. That is the largest surplus in more than a year. A hefty decrease in imports was the reason for the jump, while exports growth slowed […]

Iranian Lawmakers Summon President to Answer for Economic Struggles

Iranian lawmakers have given President Hassan Rouhani one month to appear before parliament to answer questions on his government’s handling of Iran’s economic struggles, state media reported on Wednesday. It is the first time parliament has summoned Rouhani, who is under pressure from hardline rivals to change his cabinet following a deterioration in relations with […]

Reserve Bank of India Hikes Rate for 2nd Meeting in a Row

India’s central bank has served up its second consecutive interest rate hike, and there could be more to come. The Reserve Bank of India raised the rate at which it lends to banks from 6.25% to 6.5% on Wednesday, after hiking it for the first time in four years in June. India is growing faster […]

USD/JPY consolidates gains made on tariff war hopes

Are seats at the negotiating table being dusted off? News breaking late yesterday that the US and China have plans once again to sit at the negotiating table and hopefully diffuse an escalating trade war helped risk sentiment. The announcement comes ahead of the next scheduled introduction of tariffs on $16b of Chinese imports, possibly […]

Dollar Higher Ahead of Fed Meeting OANDA Market Beat Podcast

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Joining him this week is OANDA’s Vice President of Research Dean Popplewell Subscription available on iTunes https://goo.gl/TZEWRW and GooglePlay https://goo.gl/cRBk39. Tune in every Tuesday and don’t miss a beat […]