Author: FX
USD/CAD trades around 1.3900 on Friday at the time of writing, up 0.25% on the day, supported by a combination of macroeconomic factors favoring the US Dollar (USD) and weighing on the Canadian Dollar (CAD).The Greenback finds support following the release of mixed labor market data in the United States (US). Nonfarm Payrolls (NFP) rose less than expected in December, while the Unemployment Rate declined and wage growth accelerated. Taken together, these figures point to a labor market that is gradually cooling but remains relatively resilient, reinforcing expectations of a cautious approach from the Federal Reserve (Fed). Markets largely expect…
The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Friday, with USD/JPY pushing higher for a fourth straight day as the Greenback builds on its recent advance following the latest batch of US economic releases. At the time of writing, the pair is trading around 158.00, hovering near its highest level since January 2025 and on track for a second straight weekly gain.Data from the US Bureau of Labor Statistics (BLS) showed that job growth slowed in December. The US economy added 50,000 jobs, falling short of market expectations for a 60,000 increase and easing from…
GBP/USD slips below 1.3450 as NFPs slash January Fed cut betsThe Pound Sterling retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, the GBP/USD trades at 1.3412 after reaching a high of 1.3451. Read More…Pound Sterling revisits weekly low against US Dollar ahead of US NFP dataThe Pound Sterling (GBP) trades near its weekly low around 1.3420 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair is under pressure as the US Dollar rallies further ahead of the United States…
The Pound Sterling (GBP) retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, GBP/USD trades at 1.3412 after reaching a high of 1.3451.Sterling retreats on mixed US payrolls data, traders pare near-term easing expectationsThe US Bureau of Labor Statistics (BLS) revealed that the economy added just 50K people to the workforce, below estimates of 60K and the previous revised print of 56K. Although the print shows signs of weakness, the Unemployment Rate edged lower from 4.6% to 4.4%, beneath forecasts of 4.5%.The…
Late yesterday, Trump posted this on Truth Social:The problem is, that number didn’t match up with what had been reported in the non-farm payrolls report data that had already been released. It also came after the Council of Economic Advisors was briefed on the jobs report (usually the afternoon before the release).The numbers only make sense if you add in the data released today:Now it would have taken some fancy modeling to map this to today’s release and trade on it because there were revisions to Oct/Nov data today that would have to be factored it.That said, knowing these numbers…
Rather than signaling a setback, December’s modest employment gain and rising unemployment rate reinforce our view that Canada’s labor market recovery is underway but will likely prove choppy, with slack absorbed only gradually over time, Royal Bank of Canada Senior Economist Claire Fan reports. December employment gains modest as unemployment rises”Employment grew by just 8,000 in December, following a robust 181,000 increase over the prior three months. The unemployment rate rose to 6.8% from 6.5%, driven primarily by a jump in the share of the population looking for work rather than an increase in layoffs. Even at 6.8%, the rate…
Consumer confidence in the US improved slightly to start the year, with the University of Michigan’s Consumer Sentiment Index rising to 54 in January’s preliminary reading, from 52.9 in December. This print came in slightly better than the market expectation of 53.5.The Consumer Expectations Index rose to 55 from 54.6 in this period, while the 1-year Consumer Inflation Expectation remained unchanged at 4.2%. Finally, the 5-year Consumer Inflation Expectation edged higher to 3.4% from 3.2%.Market reactionThe US Dollar Index gains traction following this report and trades at its highest level in a month at 99.25, rising 0.4% on the day.…
The distribution of forecasts this time around has the headline number in a range of 19k to 155k. The most bullish end of the range comes from Jefferies, who forecast non-farm payrolls at 155k with private payrolls at 90k. At the same time, the firm also sees the unemployment rate dropping back down to 4.3% in December.So, let’s take a look at their argument as to why they believe the labour market picture is going to turn for the better.”We are expecting what will look like a remarkably strong December employment report, a reversal of the rising unemployment trend and…
EUR/USD remains depressed near monthly lows of 1.1640 at the time of writing, on track to a 0.6% depreciation this week. The market has shrugged off the stronger-than-expected Eurozone Retail sales figures, as the US Dollar (USD) remains buoyed in cautious markets, with all eyes on US Nonfarm Payroll (NFP) figures and the ruling on US President Donald Trump’s tariff policies.Eurozone retail consumption grew 0.2% in November, according to data released by Eurostat, following a flat performance in October and beating market expectations of a 0.1% increase. ear on year, Retail Sales jumped 2.3% beyond the market consensus of 1.6% and…
Russian drone attack on Kyiv kills four, triggers fires Source link