Author: FX
Share: On Friday, the EUR/JPY found support at the 155.40 area, near the 20-day SMA and then settled at 155.80 The JPY strengthen agains most of its rivals amid strong Labor Cash Earning data from Japan. Eyes on German CPI data next Tuesday. At the end of the week, the EUR/JPY traded with losses for a fourth consecutive day, falling to 155.40 and tallying a weekly loss of 1%. In that sense, strong labour market data from Japan made the JPY gain ground agains most of its rivals, including the USD,EUR,GPB and AUD. During the early Asian Japan…
It was an unfortunate week to be a comdoll buyer as global growth concerns got mixed in with hawkish Fed expectations to create a generally risk-averse trading environment, lifting the yen to the top spot for the week. We also saw the Greenback closing the week on a sour note after the highly anticipated Non-Farm Payrolls update was arguably solid in its signal of a strong employment environment, but the net job growth number did come in below expectations. Missed the major forex headlines? Here’s what you need to know about last week’s FX scene: USD Pairs Overlay of USD…
Share: Mexican Peso recovers as weak US data sparks a sell-off, bringing USD/MXN down from a four-week high. US job growth disappoints, triggering Dollar weakness; inflation fears persist as Average Hourly Earnings rise. Mexican inflation declines for the fifth month, defying estimates; CME FedWatch Tool shows heightened odds for a Fed rate hike. The Mexican Peso (MXN) recovered some ground on Friday as soft data on the United States (US) triggered a US Dollar (USD) sell-off. Hence the USD/MXN dropped from four-week highs, trading at 17.1388, down 0.55%. USD/MXN reacts to underwhelming Nonfarm Payrolls figures and inflation concerns…
Share: US stocks slammed into the close and erode the NFP knee-jerk rally. Investors rethink the US data this week and the hawkish sentiment is a dark cloud over Wall Street. The S&P 500 (US500) index fell on Friday with weakness intensifying into the close. The US Nonfarm Payrolls data from the Labor Department, which offered a mixed view of the US job market, weighed on market sentiment later in the day. The US500 is down some 0.15% at the time of writing, falling from a high of 4,441.50 and reaching a low of 4,397.2. Nonfarm Payrolls (NFP) in the US rose 209,000 in June,…
Markets:Gold up $13 to $1924WTI crude oil up $1.86 to $73.66US 10-year yields up 2.3 bps to 4.06%S&P 500 down 0.2%JPY leads, USD lagsThe initial reaction to the non-farm payrolls report was mixed as the softer headline competed with higher-than-anticipated wage growth. The dollar fell, then recovered most of the losses.From there, the bond market took over. Yields began to fell and 2s fell back through 5%, kicking off a strong decline in the US dollar. The USD/JPY selling today was particularly notable and certainly raised some eyebrows regarding whatever the MOF or BOJ is going to deliver, but it…
Share: The EUR/GBP traded in the 0.8554-0.8521 and is set to close a 0.50% weekly loss on Friday. Lower British yields weakened the made it difficult for the Sterling to find demand. Eyes on German Inflation and British labour market data next week. On Friday, the EUR/GBP traded with losses falling to a low of 0.8521 and then settling around 0.8545. The Eurozone’s and British calendars had nothing relevant to offer, and the focus is next week’s Consumer Price Index (CPI) data from Germany and labour market data from the UK. During the session, the GBP weakened on failing British yields.…
A lack of non-U.S. top-tier economic releases sure didn’t stop traders from moving the major currencies around this week! After all, they had growth concerns on their minds in the first half of the week and then had to price in a hawkish Fed in the last few days. Not sure what I’m talking about? I can explain, but lemme show you the biggest headlines first: Notable News & Economic Updates: ? Broad Market Risk-on Arguments BOJ’s Tankan manufacturing index jumps from 1 to 5, non-manufacturing index was also higher from 20 to 23 in Q2 as raw material costs…
© Reuters. FILE PHOTO: Dutch Prime Minister Mark Rutte speaks at a news conference with French President Emmanuel Macron (not pictured) during Macron’s state visit to the Netherlands, in Amsterdam, Netherlands April 12, 2023. REUTERS/Piroschka van de Wouw/File Photo AMSTERDAM (Reuters) -The Dutch government on Friday collapsed after failing to reach a deal on restricting immigration, junior coalition partner Christian Union said, a move expected to trigger new elections in the fall. “The four parties decided that they cannot reach an agreement on migration. Therefore they decided to end this government,” party spokesman Tim Kuijsten said, confirming media reports that…
The major indices gave up gains into the close with all the major indices closing lower on the day. At session highs the Dow was up 114.11 points S&P was up 28.29 points, and the she NASDAQ index was up 125.47 points.At the close, the indices were all negative.Dow industrial average -187.25 points or -0.55% at 33735.00S&P index -12.59 points or -0.29% at 4399.01NASDAQ and -18.34 points or -0.13% at 13660.71The small-cap Russell 2000 did close higher with a gain of 22.43 or up 1.22% at 1864.66.For the trading week:Dow Industrial Average fell -1.36%S&P index fell -1.16%NASDAQ and the fell…
The Australian Dollar finished the second quarter not far from where it started after breaking both sides of an established range. Although some domestic factors haver played a role in AUD/USD direction, the US Dollar remains a dominant factor for the currency.For the full Australian Dollar third quarter report, click on the banner below. Recommended by Daniel McCarthy Get Your Free AUD Forecast The RBA and the Fed have their sayThe 0.6565 – 0.6900 range played out from February through to late May before the dip lower on the back of a stronger USD. Early June saw the RBA surprise…