Author: FX

Employment in Canada rose at a stronger pace than expected in December. USD/CAD erased its daily gains and declined below 1.3550 after the data. The data published by Statistics Canada revealed on Friday that the Unemployment Rate declined to 5% in December from 5.1% in November . This reading came in better than the market expectation of 5.2%. Further details of the publication showed that the Net Change in Employment was +104K, much higher than analysts’ estimate of +8K.  “Year-over-year growth in the average hourly wages of employees remained above 5% for a seventh consecutive month in December, up 5.1%…

The index fades the earlier advance past the 105.60 level. The US economy added more jobs than expected in December. The wage growth seems to have lost momentum in the last month. The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, gives away initial gains and returns to the negative territory below the 105.00 mark on Friday. USD Index looks offered post-Payrolls The index quickly leaves behind the earlier uptick to 4-week highs in the 105.60/65 band and slips back to the sub-105.00 region as investors continue to digest the publication of the Nonfarm…

Linde (NYSE:LIN) agreed to acquire the remaining interests in nexAir, one of the largest U.S. independent packaged gas distributors with ~$400M in sales during 2022; no financial details were disclosed.Linde’s (LIN) gas and equipment subsidiary purchased the remaining 77.2% after holding a minority stake in nexAir since 2012.The company said the acquisition complements its existing packaged gas business and expands its footprint in the southeastern U.S.Linde’s (LIN) plans to delist from Frankfurt’s stock exchange are a positive, Mare Evidence Lab writes in an analysis posted on Seeking Alpha. Source link

US Nonfarm Payrolls rose by 223K, exceeding estimates, while the unemployment rate fell. Average Hourly Earnings were lower than the 5% foreseen, signaling that inflation on wages is easing. GBP/USD Price Analysis: The rally could cap around the 50-EMA and daily pivot confluence around 1.1950. The GBP/USD is trimming some of its Thursday losses, as the US Department of Labor released upbeat economic data, which was positive, though the US Dollar (USD) is weakening across the board. Therefore, the GBP/USD is trading volatile at around 1.1900-1.1920 after hitting a daily low of 1.1841. Investors’ mood remains upbeat following the release…

US Nonfarm Payrolls exceeded estimates of 200K, while the unemployment rate edged lower. Average Hourly Earnings were lower than the 5% foreseen, signaling the absence of a wage spiral. Gold Price Forecast: To find solid resistance around $1,852-$1,860. Gold price extends its gains after the US Nonfarm Payrolls showed the US economy added more jobs than estimates while the rate of unemployed Americans edged lower. At the time of writing, XAU/USD trades volatile around the $1,837-$1,844 range. The US Bureau of Labor Statistics revealed that December’s Nonfarm Payrolls rose by 223K above the 200K estimates, signaling the robustness of the…

USD/CAD meets with some intraday selling in reaction to the stellar Canadian jobs report. The mixed US NFP data fails to impress the USD bulls or provide any meaningful impetus. The price-action warrants caution for bullish traders and positioning for additional gains. The USD/CAD pair surrenders a major part of its intraday gains and retreats below the 1.2600 mark during the early North American session. The Canadian Dollar gets a strong boost in reaction to the upbeat domestic employment details, which, in turn, prompts some selling around the USD/CAD pair. Statistics Canada reported that the economy added 104K new jobs in…

EUR/USD keeps the trade around the 1.0500 level on Friday. US Non-farm Payrolls came in on the strong side in December. The jobless rate ticked lower to 3.5%, bettering consensus. EUR/USD remains on the defensive near the 1.0500 neighbourhood in the wake of the release of US NFP on Friday. EUR/USD trims losses post-NFP  EUR/USD saw its downside curtailed after the US economy created 223K jobs during December, leaving behind previous estimates for a gain of 200K jobs. Furthermore, the November reading was revised down to 256K (from 263K).   Additional results showed the Unemployment Rate deflating to 3.5% and the key Average Hourly…

© Reuters. Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. REUTERS/Andrew Kelly (Reuters) – Global equity funds witnessed net outflows for a ninth straight week in the seven days to Jan. 4 as investors remained cautious ahead of the release of the Federal Reserve’s latest meeting minutes. According to Refinitiv Lipper data, global equity funds recorded a net $15.42 billion worth of withdrawals, compared with just $791 million worth of disposals in the previous week. Graphic – Fund flows: Global equities bonds and money market – https://fingfx.thomsonreuters.com/gfx/mkt/lbpggorndpq/Fund%20flows-%20Global%20equities%20bonds%20and%20money%20market.jpg…

Coming up with a trade idea usually involves planning entries and exits based on a particular outcome. Whether this involves trading around market estimates for an economic report or an expected price reaction to technical levels, we often make detailed plans with some degree of fixation on a specific scenario. This is all well and good, especially since trading is mostly about profiting from high-probability setups. The danger, of course, is getting too fixated on a singular plan that it results in tunnel vision. As traders, this can blind us from seeing alternative possibilities and making plans for these. As…

Headlines:Markets:USD leads, JPY lags on the dayEuropean equities mixed; S&P 500 futures flatUS 10-year yields up 0.5 bps to 3.727%Gold up 0.2% to $1,836.48WTI crude down 0.4% to $73.39Bitcoin down 0.8% to $16,722It was a quiet session for the most part as markets are gearing towards the US non-farm payrolls report later today. The yen was weaker as the BOJ got tested, with 10-year JGB yields running up against the 0.50% mark for the first time since July 2015.USD/JPY moved higher from 134.00 to 134.60, running up to its highest levels since the BOJ policy meeting last month.The dollar was…