Author: FX
Share: Mexican Peso trims some of its weekly losses but remains ready to print over 4% weekly losses. Mexico’s government’s lack of transparency weighed on the Mexican Stock Exchange and caps Peso’s recovery. A subtle pullback in US bond yields weighed on the US Dollar and provided breathing space for the Peso. Mexican Peso (MXN) stages a comeback versus the US Dollar (USD) late during the New York session, as the USD/MXN drops from around seven-month highs at around 18.48 and falls below Thursday’s daily close of 18.25, which could open the door for a deeper correction in…
Share: The GBP/JPY is catching a late-week lift as investors jump back into risk assets. Market sentiment has flipped positive to close out the trading week. The US NFP printing has sent the entire market broadly risk-on and most pairs are recovering the week’s downside action. The GBP/JPY is tapping into the week’s highs near 182.80 after catching a firm lift on rebounding investor market sentiment, climbing a full 1% from the day’s lows just past the 181.00 handle and is now testing 182.75 after a 180-pip climb. Broader markets went firmly risk-on following the US Non-Farm Payrolls (NFP)…
Share: USD/JPY ascends to 149.50, rebounding from lows, driven by a US jobs report that eclipsed market expectations. Despite a surge, USD/JPY retraces slightly, settling around 149.20, with US 10-year note yielding at a sturdy 4.780%. Japanese officials express concerns over Yen volatility, while a rise in the 10-year JGB coupon hints at potential BoJ intervention. USD/JPY climbs during the North American session courtesy of solid US jobs data, which spurred a jump from the last two days’ lows of 148.26. On its way north, buyers reclaimed the 149.00 mark and hit a three-day high of 149.50, underpinned…
Share: EUR/USD catches a firm lift post-US NFP release, climbing 1.12% from the day’s bottom. Broad-market flows have gone firmly risk-on following a bumper NFP reading for the USD. Euro traders will be looking ahead to Monday’s investor confidence indicator for October. The EUR/USD climbed 117 pips from Friday’s bottom bids of 1.0482 to tap into the 1.0600 handle as Friday’s US Non-Farm Payrolls (NFP) sends investors piling out of the US Dollar and back into risk assets to close out the trading week. The EUR/USD is now trading back slightly, testing the waters around 1.0580 as investors…
Sutro gains as Oppenheimer sees 200% upside on ADC potential Source link
© Reuters. U.S. releases new guidance on EV tax credit rebate rules The U.S. Treasury Department has issued fresh guidelines on Friday, outlining updated regulations that make it simpler for individuals to recover costs associated with electric vehicle purchases using the existing EV tax incentives. Beginning on January 1, consumers will have the option to transfer these credits directly to a car dealership, effectively reducing the purchase price for the vehicle. This change is expected to potentially boost EV sales. Currently, consumers can only benefit from the $7,500 credit for new EVs or the $4,000 credit for used EVs when…
USD/CAD PRICE, CHARTS AND ANALYSIS:Read More: The Bank of Canada: A Trader’s GuideUSDCAD had finally broken above the October 2022 descending trendline this week but has since run into some resistance just shy of the 1.3800 mark. This could just be a short-term retracement before a bullish continuation.Get your hands on the recently released U.S. Dollar Q4 outlook today for exclusive insights into the pivotal catalysts that should be on every trader’s radar. Recommended by Zain Vawda Get Your Free USD Forecast US AND CANADIAN LABOR MARKET DATAThe September US jobs report was released a short while ago coming in…
Candor jobs data shows a stronger than expected increasePrior 39.9Kemployment change 63.8Kvs 20.0K estimate.Unemployment rate 5.5% vs. 5.6% estimate. Last month 5.5%.Full-time employment 15.8K vs 32.2K last monthpart-time employment 47.9K vs. 7.8k last month.Participation rate 65.6% vs 65.5% last month.Average hourly wages permanent employees 5.3% vs 5.2% YoY last monthOther details from StatCan Core-aged women (25-54 years) saw an employment increase of 37,000 (+0.6%), and men in the same age group saw an increase of 32,000 (+0.5%).Employment in educational services rose by 66,000 (+4.5%), and transportation and warehousing saw a 19,000 (+1.8%) increase.Employment decreased in finance, insurance, real estate, rental…
A single mistake could spell the difference between winning and losing a trade. This is why it’s important that you develop the habit of thoroughly planning your orders. Here are four steps you can follow to build good ordering habits: 1. Identify your entry, stop loss, and profit levels I won’t go into the “whys” of a trade since everyone has their own methods for determining directional bias, time, and volatility expectations. After you’ve made your fundamental and technical analyses, you’ll be ready to mark your entry and exit levels. Your entry and profit levels don’t have to be set…
Share: USD/CAD has rallied on the back of USD strength and the spike in US treasury yields. Economists at Société Générale analyze the pair’s outlook. Prevalence of upward momentum Daily MACD remains anchored within positive territory denoting prevalence of upward momentum. Defence of the 50-DMA near 1.3510 could lead to persistence in up move. The pair has faced interim hurdle at 1.3770, the 76.4% retracement from 2022. Beyond 1.3770, next potential objectives are located at 1.3860 and 2022 high of 1.3980. See: USD/CAD to slip a little more obviously on losses through 1.3695 – Scotiabank Source link