Author: FX
GOLD PRICES FORECAST:Gold prices retreat as Treasury yields charge higher following solid U.S. payrolls dataThe U.S. economy added 339,000 jobs in May, topping estimates by a wide marginThe strong and resilient labor market could nudge the Fed to continue hiking interest rates heading into the summer Recommended by Diego Colman Get Your Free Gold Forecast Most Read: EUR/USD Turns the Tide as USD/JPY Fumbles, USD/CAD Carves Out Double-Top PatternGold futures retreated on Friday, down about 0.7 % to $1,981 in late morning trading in New York heading into the weekend, bringing their recent recovery to a screeching halt, pressured by…
Truist initiates Peakstone Realty at Hold due to asset class, growth profile Source link
US NFP AND JOBS REPORT KEY POINTS:The US Added 339,000 Jobs in May, Surpassing the Average Forecast of 190,000 New Payrolls. Aprils Figure Meanwhile Was Revised Higher to 294,000.The Unemployment Rate Rises to 3.7%, a 7-Month High.Average Hourly Earnings Came in at 0.3% MoM with the YoY Print Dropping to 4.3%.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Hiring in the US accelerated through May as the economy added…
© Reuters. A view shows an office building damaged during Russian missile strikes, amid Russia’s attack on Ukraine, in Kyiv, Ukraine June 1, 2023. Press service of the State Emergency Service of Ukraine in Kyiv/Handout via REUTERS By Pavel Polityuk KYIV (Reuters) -Ukrainian forces in Kyiv said on Friday they shot down 36 Russian missiles and drones in and around the capital overnight, with two people injured by falling debris before authorities lifted air raid alerts across most of the country. Russia has launched about 20 missile and drone attacks on Kyiv since the beginning of May, a surge in…
Most traders spend a lot of time and effort picking their trade entries but forget to plan their exits. But what use is a well-timed and properly executed entry if you aren’t able to minimize your losses or maximize gains? As you’ve probably learned through experience, the market doesn’t always go your way. Even if you’ve done all the fundamental and technical analysis, there’s still a chance that some unforeseen event happens or price simply does not react the way you thought it would. Or what if it does? In this favorable scenario, do you have a plan for locking in…
US Dollar Price, Chart, and AnalysisUS debt ceiling agreed and passes to President Biden to sign off.The US jobs market remains hot – next up is the closely followed NFP report. Recommended by Nick Cawley Trading Forex News: The Strategy The US debt ceiling deal has passed through Congress and now just needs President Joe Biden’s signature to come into force, just a couple of days before the US government was expected to run out of money. Today’s agreement suspends the debt ceiling until Janaury1 2025 and should save around $1.5 trillion over the next 10 years. The multi-week debate…
On the daily chart below, we can see that May was a great month for the USD as the strong economic data made the market to reprice interest rates expectations on the more hawkish side. We even got a breakout of the March low recently, but the sellers couldn’t sustain the momentum as they started to get big headwinds. In fact, NZDUSD rallied in the past two days as the market started to unwind hawkish bets due to some Fed officials talking about a pause in June to wait for more data and decide in July. Moreover, yesterday’s soft data…
USD/JPY News and Analysis Recommended by Richard Snow How to Trade USD/JPY BoJ Governor Ueda in No Hurry to Alter CourseBoJ Governor Kazuo Ueda stressed that the Bank is in no rush to alter the path of monetary policy despite interest rates holding above the 2% target since early 2022. The pick up in inflation has been attributed to supply side effects created by the demand and supply mismatch brought about as a result of the Covid-19 lockdowns and Russia Ukraine war.However, this morning at a platform for Japan’s government draft economic policy, it was declared that the government will…
Article written by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P Analysis and ChartsFTSE 100 recovers as US avoids a defaultThe FTSE 100 is seen bouncing off its two-month low at 4,433 on the back of rallying Asian markets as the US Senate passed the debt ceiling deal which now only needs to be signed into law by President Biden.The index thus retests its 200-day simple moving average (SMA) at 7,532, a rise above which would engage last week’s low at 7,556 and also the 7,587 22 March high.For the bulls to be back in control, last week’s…
GBP/USD has scope for further upside with bullish technical patterns in focus ahead of the NFP report. Source link