The dollar is currently gaining ground against the pound sterling and the Japanese Yen at the beginning of the new trading week, but is losing ground against the Euro. The stronger than expected October employment growth reported at the end of the previous week is continuing to drive the currency on Monday. Investors are speculating
The dollar rallied sharply against its major competitors on Thursday, after the European Central Bank unexpectedly reduced its interest rate. However, the U.S. currency has since given back most of those initial gains. U.S. GDP data came in better than expected, but investors may be playing it cautious ahead of Friday’s jobs report. Economic activity
The dollar is rising sharply against all of its major competitors at the end of the trading week, after the U.S. jobs report for October showed a larger than expected increase in employment growth. Coupled with the strong GDP data from Thursday, investors have begun to speculate that the Federal Reserve may be forced to
The dollar has continued to trade nearly unchanged against both the Euro and the Japanese Yen on Friday, extending the trend from the prior session. However, the U.S. currency has gained some ground against the pound sterling, following the British GDP report. With orders for transportation equipment showing a significant increase, the Commerce Department released
The Canadian dollar lost ground against the euro in Asian trading on Wednesday. The loonie touched 1.4201 against the euro, lowest since September 2011. If the loonie weakens further, it may target support around the 1.438 area. The pair was worth 1.4175 at yesterday’s close.
