Employment — News Archive

The Australian dollar rallied earlier during the Thursday’s trading session on the back of robust domestic employment growth but retreated later due to a range of negative fundamentals.

The Great Britain pound gained today after employment data showed strong performance of the labor market in Britain. Prospects for a delay for the Brexit also supported the currency.

The euro today headed lower against the US dollar in the early European session before posting slight gains after the release of in-line eurozone Q4 GDP data. The EUR/USD currency pair later spiked higher following the release of disappointing US retail sales data for December.

The New Zealand dollar fell sharply by the end of the Wednesday’s trading session and remained weak at the start of the Thursday’s session. The reason for the huge slump was an extremely underwhelming employment report.

With no macroeconomic reports or other events scheduled in Canada for today, the Canadian dollar was trading mostly flat in the American trading session. Falling prices for crude oil and poor economic data in the United States drove the loonie lower versus its US counterpart.

The euro today fell from yesterday’s highs, which were triggered by the dovish FOMC policy statement and comments, following the release of mixed eurozone data. The EUR/USD currency pair recovered slightly after the release of higher-than-expected US jobless claims data, which painted a different picture of the country’s labor market.

The euro today traded in a tight range amid subdued market activity as investors waited patiently for the FOMC rate decision scheduled for later today. The release of mixed data from across the eurozone had minimal impact on the EUR/USD currency pair, which continued to trade above the crucial 1.1400 level.

The Australian dollar rose today, gaining on most major currencies, with the exception of the euro. While no macroeconomic data was released in Australia today, several reports came out yesterday, including the extremely positive employment report.

The Canadian dollar today rallied against its US counterpart after the release of jobs reports from both countries, which beat expectations. The USD/CAD currency pair spiked briefly after the release of the US non-farm payrolls, but headed lower shortly thereafter as the loonie recovered.

The euro today largely traded sideways against the US dollar following yesterday’s significant recovery from lows last witnessed in mid-December. However, despite the recovery, analysts are still predicting that the euro is likely to be in a bearish trend for most of January.