The Euro to British Pound (EUR/GBP), Euro to US Dollar
(EUR/USD), Euro to New Zealand Dollar (EUR/NZD) and Euro to Japanese Yen
(EUR/JPY) exchange rates all softened early in Wednesday’s European
trading while the Euro to Swiss Franc (EUR/CHF) exchange rate recorded
gains.
The Euro to British Pound (EUR/GBP) exchange rate took a rather significant dive when UK employment data beat economists’ forecasts and offered hope that the UK economic recovery is progressing strongly despite rumours of a slowdown.
UK Jobless Claims Change was expected to show a -25.0K reduction in jobseekers in January after December’s -29.7K improvement; however, the actual ecostat managed to surge at -38.6K. In addition, Employment Change rocketed to 103K in the three months through December, doubling forecasts of 50K.
The jump in employment saw the UK Unemployment Rate decline from 5.8% to 5.7% in the last three months of 2014 and Average Weekly Earnings finally recorded some substantial progress, rising from a positively revised 1.8% to 2.1%.
Meanwhile, the US Dollar could be in for some movement on Wednesday with the release of MBA Mortgage Applications, Building Permits and Housing Starts stats data.
Tuesday was a poor day for US domestic data when the NAHB Housing Market Index declined from 57 to 55 in February—a surprise turn of events considering economists had forecast a rise to 58.
Read more Click here / www.trade4x.net
The Euro to British Pound (EUR/GBP) exchange rate took a rather significant dive when UK employment data beat economists’ forecasts and offered hope that the UK economic recovery is progressing strongly despite rumours of a slowdown.
UK Jobless Claims Change was expected to show a -25.0K reduction in jobseekers in January after December’s -29.7K improvement; however, the actual ecostat managed to surge at -38.6K. In addition, Employment Change rocketed to 103K in the three months through December, doubling forecasts of 50K.
The jump in employment saw the UK Unemployment Rate decline from 5.8% to 5.7% in the last three months of 2014 and Average Weekly Earnings finally recorded some substantial progress, rising from a positively revised 1.8% to 2.1%.
Meanwhile, the US Dollar could be in for some movement on Wednesday with the release of MBA Mortgage Applications, Building Permits and Housing Starts stats data.
Tuesday was a poor day for US domestic data when the NAHB Housing Market Index declined from 57 to 55 in February—a surprise turn of events considering economists had forecast a rise to 58.
Read more Click here / www.trade4x.net
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