Canadian Dollar Rallies as Employment Tops Forecast

Employment in Canada increased 35.8K in August after unexpectedly contracting 9.3K in the previous month, which exceeded forecasts for a 30.0K rise.

Meanwhile, the jobless rate unexpectedly advanced to 8.1% from 8.0% in July as discouraged workers returned to the labor force, and conditions are likely to improve going forward as the economic recovery gathers pace. The breakdown of the report showed full-time positions...

USDJPY Trading Opportunities

Potential exists for a USDJPY reversal and strength up towards 8800-9000 before the longer term downtrend resumes.

Monthly USDJPY Bars


Prepared by Jamie Saettele

For years, I’ve focused on the impulsive nature of the USDJPY decline since the 1970s and expectations have been for...

Currencies have come back under pressure in Tuesday trade, with the Euro leading the declines on the back of news that some of the European banks may have under-reported on their exposures to sovereign debt and then accelerating on the shockingly bad German factory orders.

FUNDYS

Currencies have come back under pressure in Tuesday trade, with the Euro leading the declines on the back of news that some of the European banks may have under-reported on their exposures...

Nonfarm payrolls in the world’s largest economy tumbled 54,000 in August after falling a revised 54,000 the previous month amid economists’ expectations of -105,000. At the same time, the unemployment rate rose to 9.6 percent from 9.5 percent in July. In turn, the Japanese yen, and the U.S. dollar lost ground against all major currencies as sentiment shifted gears. Meanwhile, U.S. futures pushed higher subsequent to the report, and indeed, risk appetite maybe the main theme going into the North...

Euro showed little reaction to the European Central Bank interest rate decision as policy makers held the benchmark interest rate at 1.00% in September, but the slew of data scheduled for the U.S. trade is likely to stoke increased volatility in the exchange rate as investors weigh the outlook for future growth.

Talking Points

* Japanese Yen: Gains Ground Against Most Counterparts
* Pound: Manufacturing Expands at Slower Pace
* Euro: 2Q Growth...