Employment — News Archive

The Australian dollar rallied today, though the currency has trimmed its gains by now. The Aussie got a boost from the employment report that came out much better than was expected.

The Reserve Bank of New Zealand surprised markets today, cutting interest rates more than was expected. As a result, the New Zealand dollar sank against almost all of its most-traded rivals. While the currency has trimmed losses by now, it is still trading far below the opening level. Surprisingly, the kiwi managed to gain on the Great Britain pound, which remains under pressure from fears of a hard Brexit.

The Canadian dollar was performing extremely poor today. While the loonie has managed to erase intraday losses versus the US dollar by now, the Canadian currency remained below the opening level against other most-traded rivals. The most likely reason for the drop was the decline of crude oil prices. Positive Canadian employment data did little to help the currency.

Australian employment data came out today much weaker than was expected. Yet that did not prevent the Australian dollar from rising against the majority of its most-traded peers.

The US dollar ended the week with gains against the majority of most-traded currencies, though not against the Canadian dollar. The US-China trade ceasefire and positive US employment data were the main contributors to the greenback’s rally.

The Canadian dollar was firm today even as domestic macroeconomic data was surprisingly poor. While the loonie fell versus its US counterpart, which itself got boost from positive domestic data, the Canadian currency was firm against other major rivals.

The US dollar was soft versus riskier commodity currencies but stood ground against majors. The greenback was especially strong against European majors such as the euro, the Great Britain pound, and the Swiss franc. The main hurdle for the US currency today was the disappointing employment report from Automatic Data Processing.

The Canadian dollar gained on its most-traded rivals today, gaining help from the positive domestic trade data, which showed an unexpected surplus, and rising prices for crude oil, Canada’s major export commodity.

The Canadian dollar attempted to rally against its major rivals today. While the currency managed to log gains against most of them, the rally was limited, and the loonie was unable to outperform the extremely strong Swiss franc.

The Australian dollar was weak today, falling for the seventh consecutive trading session against the euro, following the release of employment data in Australia. While the report was not entirely bad, the market preferred to focus on the bad part.