Tag Archives: trader

Dollar Rises On Strong Jobs Data

After exhibiting some weakness early on in the day, the U.S. dollar moved higher on Friday, riding on strong U.S. monthly jobs data and amid optimism the U.S. and China will agree on a phase one trade deal before the next hike in tariffs on Chinese imports come into effect later this month. The dollar index, which eased to 97.36 at the start, rallied to 97.84 by mid morning, and was later seen at 97.70, up nearly 0.3% from previous close. Against the euro, the dollar strengthened to 1.1061, gaining about 0.4%, from previous close of $1.1103. Against pound sterling, the dollar recovered to 1.3133 from a low of 1.3167. The Japanese yen strengthened against the dollar, rising to 108.56 a dollar, after having weakened to 108.91 yen a dollar in early trades. The dollar was down slightly against the Aussie with the AUD-USD pair trading at 0.6841. Against Swiss franc, the dollar rose to 09899, up 0.27% from previous close, while against the Loonie, it rose to 1.3257, adding more than 0.6%. In Canadian economic news, data from Statistics Canada said the Canadian economy lost 71,200 jobs in November of 2019 after shedding 1,800 jobs in the previous month….

Treasuries Move Notably Lower On Better Than Expected Jobs Data

Extending the downward move seen over the two previous sessions, treasuries moved notably lower during trading on Friday. Bond prices came under pressure early in the session and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.5 basis points to 1.842 percent. The continued weakness among treasuries came following the release of a closely watched Labor Department report showing much stronger than expected U.S. job growth in the month of November. The report said non-farm payroll employment surged up by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The Labor Department said notable job gains occurred in healthcare and in professional and technical services, while manufacturing employment also rose as General Motors (GM) workers returned from a strike. With the stronger than expected job growth, the unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. A separate report released by the University of Michigan showed a…

U.S. Consumer Sentiment Climbs To Seven-Month High In December

Preliminary data released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of December. The report said the consumer sentiment index climbed to 99.2 in December from the final November reading of 96.8. Economists had expected the index to inch up to 97.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 100.0 in May. The current economic index jumped to 115.2 in December from 111.6 in November, while the index of consumer expectations rose to 88.9 from 87.3. Surveys of Consumers chief economist Richard Curtin said nearly all of the improvement in consumer sentiment in December was among upper income households, who reported near record gains in household wealth due to record high stock prices. “Indeed, among households with incomes in the top third of the distribution, their overall assessment of their current finances was the third highest in the past twenty years,” Curtin said. He added, “These gains were aided by declining inflation expectations, with long term inflation expectations returning to an all-time low.” The report said one-year inflation expectations edged down to 2.4 percent in December from…

Surge In U.S. Non-farm Payrolls Lifts Dollar

The U.S. dollar was notably higher against its major trading partners in the European session on Friday, as the economy created much more jobs than forecast in the month of November, supporting hopes for the Federal Reserve to keep policy unchanged when it meets next week. Data from the Labor Department showed that U.S. job growth was in a substantial acceleration in November. The report said non-farm payroll employment surged by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. The Federal Reserve’s final rate setting meeting of the year is due next week. The Central Bank is expected to keep rates on hold at 1.50-1.75 percent. Investors focused on developments in China-U.S. trade front after President Donald Trump commented that the talks were “moving right along.” Trump’s remarks came after Beijing asserted that some U.S. tariffs should be rolled back as part of an interim deal. U.S. Treasury Secretary…

Malta Economic Growth Slows In Q3

Malta’s economic growth slowed further in the third quarter, preliminary data from the National Statistics Office showed on Friday. Gross domestic product grew 5.5 percent year-on-year following a 7.1 percent increase in the previous quarter. The pace of growth has been slowing since the fourth quarter of last year. In chain-linked volume terms, the economy grew 3.4 percent year-on-year after a 4.9 percent expansion in the second quarter. The rate of growth slowed for a third straight quarter. Total final consumption expenditure increased 2.5 percent in volume terms, led by a 2 percent growth in household expenditure and a 4 percent rise in government expenditure. Gross fixed capital formation rose 0.2 percent. Exports of goods and services increased by 3.6 percent and imports increased 1.0 percent. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Employment Jumps Much More Than Expected In November

Job growth in the U.S. showed a substantial acceleration in the month of November, according to a closely watched report released by the Labor Department on Friday. The report said non-farm payroll employment surged up by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. With the stronger than expected job growth, the unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. The material has been provided by InstaForex Company – www.instaforex.com…

*U.S. Dollar Rises To 2-day High Of 1.1069 Against Euro

U.S. Dollar Rises To 2-day High Of 1.1069 Against Euro The material has been provided by InstaForex Company – www.instaforex.com…

Germany Industrial Production Declines Most In 6 Months

Germany’s industrial production declined at the fastest pace in six months in October, led by a sharp decrease in capital goods output in October, data from Destatis revealed on Friday. Industrial production decreased 1.7 percent on a monthly basis in October, much bigger than the 0.6 percent fall logged in September. Output decreased at the fastest pace in six months, while economists had forecast a 0.1 percent growth. On a yearly basis, industrial output declined 5.3 percent, following a revised 4.5 percent decrease in September. Production was expected to decline moderately by 3.6 percent in October. Excluding energy and construction, production was down by 1.7 percent. Energy output advanced 2.3 percent, while construction output decreased 2.8 percent. Production of intermediate goods increased 1.0 percent and that of consumer goods gained 0.3 percent. Meanwhile, output of capital goods showed a decline of 4.4 percent. The economy ministry said the downturn in the industry continues in October. However, recent developments in new orders and business expectations indicate that a stabilization trend could emerge in the coming months, the ministry noted. Data released on Thursday showed that factory orders declined 0.4 percent in October on weak domestic demand. Looking ahead, both soft…

Gold 12.06.2019 – Gold is near multi-pivot supporrt at $1.57, more downside yet to come

Gold has been trading downside after the NFP news today. In my opinion, it confirmed another down cycle and eventual test of $1.452 and $1.446. My advice is to watch for selling opportunities on the rallies on lower frames (5-15 time-frames). MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.Resistance levels are seen at $1.471 and $1.480. Support levels are set at $1.452 and $1.446The material has been provided by InstaForex Company – www.instaforex.com…