Author: FX

Share: The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 145,000 in March. This reading came in below than the market expectation of 200,000. On a positive note, February’s print of 242,000 got revised higher to 261,000. Commenting on the data, “our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, chief economist, ADP. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.” Market reaction With the initial reaction,…

What do Michael Jordan, Conor McGregor, and Taylor Swift have in common? If you answered “They all have Netflix documentaries.” then you’re right. You also probably have too much time in your hands. Another thing they have in common is that they excel in their respective fields and look for ways to improve their craft. They expose themselves to different environments to try out different things to see what works best for them. In other words, they approach change positively. Michael Jordan changed his game from relying on pure, explosive athleticism to having a sweet, fade-away jump shot to score points. Conor…

US ADP rose 145k in March, however, the market was expecting a stronger 208k reading.  However, the February data was revised higher to 261k from 242k with strong numbers in the services and leisure/hospitality sectors. The Dollar remains under pressure ahead of the key NFP employment data release on Friday. Click here to access our Economic Calendar Andria Pichidi Market Analyst Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment…

EURGBP, H4 Eurozone Composite PMI revised lower, but still at a 10-month high today. The S&P Global Composite Output Index was revised down to 53.7 from 54.1, but this was still considerably better than the 52.0 in February and indeed a 10-month high. The services index was revised down to 55.0 from 55.6, also a 10-month high. The Manufacturing PMI remains stuck in contraction territory, but the manufacturing output index has improved and this morning’s surprisingly strong German factory orders number (+4.8% vs. 0.2% expected and 0.5% last month) also adds to signs that the sector is recovering. Spain and Italy…

The Dollar remains under pressure ahead of key employment data release on Friday. Dollar The Greenback rolls into midweek trading at the lowest level in two months (101.17). Factors attributed to this selling pressure can be linked to several factors this week. Chief among those are the recent challenges to the Dollar’s status as the worlds reserve currency as the Chinese Yuan surpasses the Dollar as the most traded currency for the first time. This comes on the back of the BRICS countries speculate on the possibility of trading amongst one another with an alternative currency to the Dollar. Looking…

Warning: NJDCY is at high risk of cutting its dividend Source link

AUD/USD ANALYSIS & TALKING POINTSRBA Governor Lowe’s hawkish sentiments did little for the AUD but shows intent to extend their tightening cycle if necessary.US economic data in focus today.AUD/USD looking towards rising wedge support, now below 200-day MA. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar extended its decline against the U.S. dollar this morning beginning with hawkish commentary from the Fed’s Mester last night. The Cleveland President’s call for a terminal rate above 5% while maintaining a restrictive monetary policy has given then greenback some support. Earlier this morning, the Reserve Bank…

USD remains under pressure, post the weaker than expected JOLTS and factory orders reports which set the stage for another strong rally in Treasuries as they heightened beliefs the FOMC is nearing the end of its tightening cycle. Yields plunged on the data headlines. RBNZ surprised, raised to 5.25% from 4.75% – the country’s economy is headed for recession, defined as two consecutive quarters of negative growth. US Stock markets sold off slightly into the afternoon with declines of about -0.5% as the weaker data dominated. BoE’s Hunt hinted for a rate rise in May.…

Looking to catch that sharp surge in gold prices? Here are some levels to watch if you’re going for a breakout or a pullback. Gold (XAU/USD) 1-hour Chart by TradingView Remember gold’s symmetrical triangle pattern we were watching a few days back? Not only did the precious metal bounce off the support area, but it also busted through the triangle resistance and $2,000 major psychological mark! If you’re looking to hop in on this rally, you might wanna consider waiting for a short-term correction to this month’s newly-forming ascending trend line. This happens to be right above the former triangle…

© Reuters. Ether (ETH) has breached $1,900 for the first time in over seven months, a week before staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization. CoinMarketCap data shows the last time Ether was over $1,900 was on Aug. 16, 2022, amid a broader crypto sell-off at a time when the United States Federal Reserve was hiking the Federal Funds rate at a record pace to combat inflation. ETH price action since August 2022. Source: CoinMarketCapContinue Reading on Coin Telegraph Source link