# Forex Major Currencies Outlook (Aug 05, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-05-2016/ Language: en Updated: 2016-08-05 Description: Explore Forex Major Currencies Outlook (Aug 05, 2016). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar had a mixed performance as it advanced against the European currencies but was mostly weaker against the commodity currencies. Data from the US economy was also mixed, as initial jobless claims stood at 269K versus the projected 265K figure and the previous 266K reading while factory orders showed a smaller than expected 1.5% drop versus the estimated 1.8% slide. The US NFP report is due today and a 180K rise in hiring is eyed, slower than the earlier 271K increase, while the jobless rate could fall from 4.9% to 4.8%. **EUR** The euro sold off to most of its counterparts except for the pound after the BOE decision. Euro zone retail PMI improved from 48.5 to 48.9 to show a slower pace of contraction in the industry. German factory orders and French trade balance are up for release today. **GBP** The pound suffered a sharp selloff against its rivals when the BOE cut interest rates and increased its bond purchases. The vote to cut rates by 0.25% was unanimous but the vote to increase stimulus from 375 billion GBP to 435 billion GBP was 6-3. Only the Halifax HPI is due from the UK today and a 0.1% drop in house prices is eyed. **CHF** The franc lost ground to some of its peers, except for the pound. The Swiss SECO consumer climate held steady at -15 instead of falling to the projected -16 figure. For today, the Swiss foreign currency reserves report is due and this might show some clues on whether or not the SNB is intervening in the forex market to keep the franc weak. **JPY** The yen returned some of its recent wins when risk appetite improved in the financial markets. There were no reports out of Japan yesterday, giving traders a chance to book profits off their recent positions. Japan’s average cash earnings report printed a stronger than expected 1.3% increase. **Commodity Currencies (AUD, NZD, CAD)** The comdolls took advantage of the pickup in risk appetite to recover against the safe-haven currencies and even chalk up gains against the European currencies. Crude oil prices continued to recover as the US natural gas storage report showed a reduction in supply. Canada’s jobs report is due today and a 10.2K increase in hiring is eyed but the jobless rate is slated to rise from 6.8% to 6.9%. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-05-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-05-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-05-2016/", "headline": "Forex Major Currencies Outlook (Aug 05, 2016)", "inLanguage": "en", "datePublished": "2016-08-05T07:44:57+00:00", "dateModified": "2016-08-05T07:44:57+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 05, 2016). USD The US. 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