Author: FX

Exclusive-Armani approached potential buyers over stake sale, sources say Source link

It seems like the data is released about an hour earlier than intended as seen here. US-based employers announced 54,064 job cuts in September, which is a 26% mark down from the same month last year. So far this year though, the year-to-date total for layoffs amount to 946,426 job cuts and that is the highest year-to-date total since 2020. Compared to last year’s tally up until September, that figure is 55% higher and already 24% higher than the total number of job cuts for the entirety of 2024 which was 761,358.It is clear that labour market conditions are weakening…

European Central Bank (ECB) policymaker Martins Kazaks said on Thursday that “current interest rate level is very appropriate.”Additional quotesRates can stay where they are if no further shocks.Uncertainty remains very high.Must retain full freedom of action.Market reactionAt the press time, EUR/USD is up 0.20% on the day at 1.1754. Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Canadian Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.22%-0.18%-0.31%0.02%-0.06%-0.49%-0.19%EUR0.22%0.03%-0.10%0.23%0.15%-0.15%0.02%GBP0.18%-0.03%-0.12%0.16%0.14%-0.17%0.00%JPY0.31%0.10%0.12%0.32%0.25%-0.27%0.16%CAD-0.02%-0.23%-0.16%-0.32%-0.08%-0.35%-0.22%AUD0.06%-0.15%-0.14%-0.25%0.08%-0.37%-0.16%NZD0.49%0.15%0.17%0.27%0.35%0.37%0.34%CHF0.19%-0.02%-0.00%-0.16%0.22%0.16%-0.34% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked…

The US Dollar has reversed earlier gains against the Japanese Yen, and retreated below the 147.00 level on the European morning session, turning negative on daily charts and hitting session lows at 146.75 so far.The pair has come under increasing bearish pressure, with the US Dollar losing ground across the board. The Dollar remains vulnerable amid concerns about the consequences of the US government shutdown and weak labor figures, which have added pressure on the Fed to ease its monetary policy further.ADP private payroll’s data released on Wednesday showed a 32K decline in net employment in September, against market expectations…

The Pound Sterling (GBP) ticks up to near 1.3500 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar (USD) remains on the backfoot, with the United States (US) job market slowing down and the government entering a shutdown.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades vulnerable near the weekly low around 97.50.On Wednesday, the US ADP Employment Change report showed that the private sector labor force witnessed a reduction of 32K employees in September. Economists had…

EUR/USD is trading with moderate gains, right above 1.1750 at the time of writing on Thursday, but still trapped within a tight range below 1.1760. Rising bets of back-to-back Federal Reserve (Fed ) interest rate cuts have offset the impact of an unexpected increase in the Eurozone’s unemployment rate. The Focus now is on the US Challenger Job Cuts.Data released by Eurostat earlier on Thursday revealed that the rate of unemployed workers in the countries sharing the Euro rose to 6.3% in August, up from July’s 6.2% and against market expectations of a seady 6.2% reading.The Euro, however, has remained…

The latest Bank of England (BoE) Decision Maker Panel (DMP) quarterly survey released on Thursday showed that “one-year ahead expected CPI inflation by the UK firms edged slightly higher to 3.5% in the quarter to September.”Key takeawaysThree-month average expectations show an expected rise of 3.4%, the most since February 2024.Expectations for three-years ahead, that is seen unchanged at 2.9% in the three months to September.Besides that, UK firms also reported that their realised annual own-price growth rose slightly to 3.8%, up 0.1% from August.As for the firms’ own-price inflation for the year ahead, that is seen at 3.7% – unchanged since July.Firms’ year-ahead…

BOJ deputy governor offers upbeat view on business mood, profits Source link

There are a couple to take note of on the day, as highlighted in bold below.The first ones are for EUR/USD layered through from 1.1700 to 1.1790. The pair faced a more choppy period in trading yesterday, but ultimately kept within the confines of its 100 and 200-hour moving averages for the most part. That is seen at 1.1724 and 1.1741 respectively now, and could very well help to lock in price action in the day ahead. That especially as the dollar continues to be meandering and the expiries above should play a part in limiting any overextensions in price…

This pair has formed lower highs and lower lows connected by a descending channel on its 4-hour time frame. Is it about to go for another bounce off resistance soon? NZD/USD 4-hour Forex Chart by TradingView After rallying then reversing throughout September, NZD/USD is back to finding support at the bottom of its descending channel near the .5750 minor psychological mark. Dollar weakness on account of the U.S. government shutdown and mostly downbeat jobs data ahead of the NFP release appear to be in play so far. Can NZD/USD carry on with its pullback? Remember that directional biases and volatility…