Author: FX
Share: Canadian Dollar claws back losses suffered overnight after underwhelming NFP data bursts Thursday’s optimism. CAD finds a friend in rising Crude Oil prices and after data shows a fall in stockpiles. USD/CAD trend is now bullish both on shorter and longer time frames after decisive breach of key 1.3270 lower highs. Canadian Dollar (CAD) reverses its overnight losses against the US Dollar (USD), after US Nonfarm Payrolls data misses expectations whilst Canadian employment data mostly beats forecasts. The CAD is further supported by Oil – Canada’s premier export – which finds traction on falling US stockpiles. USD/CAD is trading in the 1.32s on…
Share: The US dollar weakens across the board after the US official jobs report. EUR/USD gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May. The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After breaking above 1.0930, the Euro accelerated and climbed to the 1.0960 area, reaching the highest level in a week. US Dollar down after NFP Nonfarm Payrolls (NFP) in the US rose by 209,000 in June, below the market expectation of 225,000. May’s increase of 339,000 was revised lower…
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EUR/USD and EUR/GBP Prices, Charts, and AnalysisEUR/USD is back above 1.0900 on US dollar weakness.Euro Area data releases are thin on the ground next week. Recommended by Nick Cawley Download our Brand New Q3 Euro Guide The Euro is pushing higher against the US dollar and is back above 1.0900 after the latest US Jobs Report (NFP) missed expectations. Wage data however remained strong, leaving the US dollar mixed to marginally lower post-release.June Jobs Report: Mixed as NFP Misses Estimates but Unemployment Rate and Hourly Earnings ImproveThe economic calendar is fairly bare next week with the final German inflation print…
© Reuters. FILE PHOTO: Spanish Prime Minister Pedro Sanchez attends a meeting with Ukraine’s President Volodymyr Zelenskiy, amid Russia’s attack on Ukraine, in Kyiv, Ukraine July 1, 2023. Ukrainian Presidential Press Service/Handout via REUTERS/File Photo By Belén Carreño, Andrei Khalip MADRID (Reuters) -Pedro Sanchez’s reputation as a risk-taker precedes him, but a snap national election he has called for this month represents the Spanish prime minister’s biggest political gamble yet. The bold move, made in late May after his Socialist Party (PSOE) did badly in local ballots, took senior members of the party by surprise, according to sources. PSOE’s standing…
US NFP AND JOBS REPORT KEY POINTS:The US Added 209,000 Jobs in June, Slightly Below the Forecasted Figure of 225,000. May Figure Revised Down to 306,000.The Unemployment Rate Fell Back to 3.6%.Average Hourly Earnings Came in at 0.4% MoM with the YoY Print Back up to 4.4%.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section. Recommended by Zain Vawda Get Your Free USD Forecast The US added 209k jobs in June following a downwardly revised 306K in May, and below market forecasts of 225K. Nonfarm employment has grown by an average of…
Success doesn’t come easy. There’s no surefire way to be successful, but I’m sure that no one ever became a success without taking responsibility for their actions. There are circumstances that happen outside the scope of our control. But how you react to them is not among them. You have control over your emotions, reactions, and decisions. Most of us overlook this, especially when we trade. Instead of taking responsibility for a bad trade, we blame the forex market, our broker, charts, and sometimes even the cat outside the window. But aren’t we the ones doing our homework and identifying…
JPY KEY POINTS:USD/JPY slipped back in Europe, with EUR/JPY weakness leadingMarkets see plenty more monetary tightening, just not in JapanIntervention by Tokyo has happened before close to current levels Recommended by David Cottle Download the Full Q3 Forecast for the Yen Now Fundamental BackdropThe Japanese Yen gained quite sharply against the United States Dollar on Friday, albeit in a market possibly thinner than normal as traders await official news of the US labor market.USD/JPYslipped below 143 in the European morning, possibly weighed down by some cross currency weakness in EUR/JPY as German industrial production was revealed to have fallen in…
There’s not much of direction so far on the session and you can understand why there is that sense of apprehension. Everyone is waiting on the US non-farm payrolls later and it’s tough to gather much conviction at the moment. European stocks started the day with losses but are now seeing a more mixed performance:Eurostoxx +0.3%Germany DAX +0.4%France CAC 40 +0.5%UK FTSE -0.3%Spain IBEX -0.5%It still doesn’t chip away much at the heavy losses this week and US futures are also still looking rather tepid. S&P 500 futures and Nasdaq futures are down 0.1% while Dow futures are flattish currently.…
Share: Economists at ING analyze GBP outlook. Inflation picture should improve later this year In the UK, the Bank of England published a survey of corporate pricing plans on Thursday, which included some encouraging news for lower inflation. The inflation picture should improve later this year, which means some pricing out of BoE rate expectations can come hitting the Pound down the road. For now, it remains hard to see a sustained GBP downtrend. See: Two factors could set the Pound up for a depreciation at the tail end of the year – NBF Source link