Canada’s August Unemployment Rate Matches Expectations, Strong Job Growth Lifts the Canadian Dollar
Canada’s unemployment rate for August remained at 5.5%, matching expectations and defying predictions of a rise from July. Job growth for the month was impressive, with an increase of 39,900 employed individuals, a significant improvement from July’s decrease of 6,400. This better-than-expected job growth indicates an improvement in Canada’s labor market. The positive employment-related data […]
Few Market Drivers Today, Weekend Adjustments Likely in Control
Today, the market lacks prominent catalysts. The economic calendar includes Canadian employment statistics for August and Canada’s capacity utilization rate for the second quarter of 2023. The only U.S. data of note is the wholesale inventories for July, which being a final figure, is expected to attract little market attention. Regarding speeches and events, […]
Potential for Adjustment in the One-Sided Movement of USD/JPY as Kanda Finance Minister Sounds Alarm
Recently, the USD has steadily climbed, but corrections have been shallow. The value barely moved in response to Finance Minister Kanda’s remarks, his first yen-weakening intervention in two weeks. This might be due to the combined effect of rising US bond yields, increasing concerns about inflation due to high oil prices, and the weakening […]
Will the one-sided movement of USD/JPY be prone to adjustment? Kanda Finance Minister sounds a warning
Today, the upward movement of USD/JPY has paused. In the morning, Finance Minister Kanda made a rare statement of concern about excessive yen depreciation. Initially, the market’s reaction to this statement was relatively mild, with the yen strengthening by around 20 sen, but later there was an attempt to push USD/JPY below the 147 […]
Dollar Buying, Tokyo Market Led by AUD Selling, Euro Focus in European Session with Numerous Speeches
The Tokyo market is generally characterized by dollar buying pressure. With the rise in US bond yields, USD/JPY has climbed from around 146.40 to near 147 yen. Another significant move was observed in AUD/USD, which dropped from around 0.6460 to near 0.6380. Factors such as the deterioration of China’s Caixin PMI and the Reserve Bank […]
Today is Labor Day in the US – Eyes on European Developments
In the overseas markets at the beginning of the week, the US observes Labor Day and will be closed. Major US economic statistics, as well as events and speeches by US financial authorities, are not scheduled. Trading during this time will mainly revolve around the London-European trading hours. Amidst this, there are several opportunities […]
Dollar Selling Intensifies as Unemployment Rate Rises to 3.8%, Unexpectedly
Following the release of the August US employment statistics, the dollar has experienced a decline. The reaction is attributed to the unexpected increase in the unemployment rate from 3.5%, both the previous value and the market expectation, to 3.8%. One factor contributing to this change is the rise in the labor force participation rate from […]
1th in September 2023, Today’s Options
EUR/USD: 1.0700 454 million 1.0725 1.5 billion 1.0750 1.9 billion 1.0800 1.1 billion 1.0850 375 million 1.0875 376 million 1.0900 1.1 billion 1.0935 938 million 1.0950 611 million 1.1000 1.3 billion 1.1050 381 million GBP/USD: 1.2600 395 million 1.2800 690 million USD/JPY: 145.00 1.3 billion 145.50 968 million 146.00 616 million 146.40 1.2 billion […]
Dollar Index Decline Takes a Pause, Neutral Market Ahead of US Employment Data
This week, the Dollar Index had been showing a downward trend following a series of weak US economic indicators. However, yesterday saw a rebound in the Dollar, primarily driven by a drop in the Euro-Dollar pair. Market sentiment suggests a cautious approach as investors await the results of tonight’s US employment data. The August US […]
Signs of Changing Dollar Strength Trend, Balancing Price Movements and Data Releases
This week, there are signs of a potential shift in the strong dollar trend that has been ongoing since July. The Dollar Index has fully dipped below its 10-day moving average and is challenging the support levels of its 21-day and 200-day moving averages. This suggests that the short-term uptrend that has lasted for about […]