Author: FX

Risk assets suffered a sharp reversal on Thursday, with US equities surrendering robust morning gains to close deeply in the red as Nvidia’s blockbuster earnings failed to quell anxiety over AI valuations, while a barrage of hawkish Federal Reserve commentary reinforced expectations that the central bank may pause its easing cycle in December. Check out the forex news and economic updates you may have missed in the latest trading session! Forex News Headlines & Data: Bank of Japan board member Koeda stated that the BOJ should continue normalizing policy and raise interest rates as underlying inflation is near 2%, to…

The broader S&P and NASDAQ indices are both testing key swing levels and also near their 100 day moving averages. For the S&P index the last time the price traded below its 100 day moving average is back on May 9. For the NASDAQ index it to is traded below its 100 day moving average on May 9For the S&P index the 100 day moving average comes in at 6544.66. The low price just extended below that level but is bouncing modestly.For the NASDAQ index its hundred day moving average comes in at 22040. The price just fell below a…

The U.K. inflation report reflected cooling price pressures, and traders are wondering what’s next for the British pound. Will the BOE push through with its December rate cut as many expect? With U.K. unemployment rising and growth slowing, dovish expectations for the BOE are driving interest rate divergences for central banks like the Fed and RBA. Dive in as we break down what’s moving the currency, what newbie traders should watch out for, and potential strategies to consider. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily…

The New Zealand Dollar (NZD) pares early gains against the US Dollar (USD) on Thursday, as near-certain expectations of another interest rate cut by the Reserve Bank of New Zealand (RBNZ) keep the Kiwi under sustained pressure. At the time of writing, NZD/USD is trading around 0.5593, easing after a brief, volatile spike to 0.5639 in the immediate reaction to the release of the delayed US labour data.Earlier in the day, markets received the first official US employment data in weeks after delays caused by the government shutdown. The September Nonfarm Payrolls (NFP) rose 119K, strongly beating the 50K forecast,…

Walmart shares are up 3.6% in the pre-market following today’s earnings report. I think this report is probably the best reading on the consumer that we will get before the next Federal Reserve meeting.The verdict? Pretty good but with some caveats.Comp sales were up 4.5% in the US and the company raises its outlook for sales growth for the year to 4.8-5.1% (from 3.75-4.75%). The comp sales consensus estimate was 3.8%. That’s all good but the conference call touched on some familiar themes. Company officials said lower income families have been under additional pressure ‘of late’ and that higher income…

USD/CHF advances for the fifth consecutive day on Thursday, with the pair drawing strong support from broad US Dollar (USD) strength as markets position cautiously ahead of the delayed September Nonfarm Payrolls (NFP) report due at 13:30 GMT. At the time of writing, USD/CHF is trading around 0.8073, its highest level in nearly two weeks, as the Swiss Franc (CHF) remains on the defensive.The Greenback’s upward momentum is being driven by a reassessment of the Federal Reserve’s (Fed) near-term monetary policy outlook. Markets are now less confident about a December rate cut, with the CME FedWatch Tool showing only a…

Eurostoxx +0.47%Germany DAX +0.97%France CAC 40 +0.03%UK FTSE +0.25%Spain IBEX +0.83%The risk sentiment improved following the strong Nvidia Q3 earnings here. The attention will now switch to the US data with the December cut probabilities now down to roughly 30% following the BLS announcement that the November NFP will be released after the December FOMC meeting. Today we have the September NFP report and the US Jobless Claims. The market will want to see soft figures to increase the probabilities for a December cut and keep the positive risk sentiment going. This article was written by Giuseppe Dellamotta at investinglive.com.…

The USD/CAD pair holds steady near 1.4060 during the early European session on Thursday. Traders brace for the upcoming US Nonfarm Payrolls (NFP) data to provide clues about the potential for an interest-rate cut next month. Meanwhile, lower crude oil prices could weigh on the commodity-linked Canadian Dollar (CAD) against the Greenback. The US Bureau of Labor Statistics (BLS) will release the September employment report on Thursday, which was delayed by the 43-day government shutdown. Economists expect to see 50,000 jobs added in the US economy in September, while the Unemployment Rate is projected to stay unchanged at 4.3%. A weaker-than-expected jobs…

Yen slumps, dollar jumps as US rate cut bets recede Source link

The Australian dollar is right back at a key inflection point that acted as solid support at least three times in the past few weeks. Will the bulls step in to defend this level again? Check out AUD/USD’s 4-hour chart! AUD/USD 4-hour Forex Chart by TradingView China-Japan relations jitters, shaky gold prices, and fading hopes for quick Fed rate cuts have taken some of the shine off market risk appetite, and that has kept demand for the Australian dollar on the quiet side in recent sessions. The U.S. dollar has enjoyed the opposite treatment, getting a lift from calmer Fed…