Author: FX
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the Federal Reserve (Fed) to cut rates this year. At the time of writing, XAU/USD trades at $4,507, up 0.65%.Bullion rallies as weaker payrolls keep Fed cut bets aliveThe US economic data weighed on investors’ expectations of lower interest rates in the short term. But for the whole year, traders seem confident that the Federal Reserve would lower…
Gold and silver have been volatile to start the year so far but the bulls have shown some impressive willingness to buy moderate dips. Now both are flirting with notable closes. Gold is attempting only its second-ever weekly close above $4500 after doing that on December 22 in holiday-thinned trading. Silver is attempting a weekly close above $80 for the first time ever.Both would be bullish signs.There was some profit taking after the huge moves in precious metals just after Christmas but they’ve found a footing in light of geopolitical turmoil. The US capture of Venezulan President Maduro is one…
It’s time for Fed not to lose sight of inflation missionFed’s job and inflation mandates are somewhat in tensionNeed to be ‘laser focused’ on lowering inflationInflation is ‘a lot’ above the 2% targetNo hire, no fire continues to be key labor market dynamicThe job market has been cooler but it’s not clear its fundamentally weakerHearing about stress from sectors that depended on foreign workersCost pressures are not just from tariffsIt’s very important we get inflation under controlInflation issues are still one of the economy’s main challengesNow ended pandemic supports had buoyed lower income AmericansIn many ways U.S. has long had…
The non-farm payrolls came in a bit softer than the whisper numbers, giving the “bad news is good news” crowd a reason to cheer. For the ECB, it doesn’t change much, but for equity bulls, it was the green light they needed to keep the momentum going.Here’s the closing scoreboard for the week ending January 9, 2026:The STOXX 600 rose 2.23% on the week, a solid performance that speaks to improving breadth across sectors. Cyclicals quietly outperformed defensives, suggesting investors are leaning into growth without fully abandoning caution.Germany’s DAX led the major benchmarks with a 2.86% weekly gain, continuing to…
USD/CAD trades around 1.3900 on Friday at the time of writing, up 0.25% on the day, supported by a combination of macroeconomic factors favoring the US Dollar (USD) and weighing on the Canadian Dollar (CAD).The Greenback finds support following the release of mixed labor market data in the United States (US). Nonfarm Payrolls (NFP) rose less than expected in December, while the Unemployment Rate declined and wage growth accelerated. Taken together, these figures point to a labor market that is gradually cooling but remains relatively resilient, reinforcing expectations of a cautious approach from the Federal Reserve (Fed). Markets largely expect…
The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Friday, with USD/JPY pushing higher for a fourth straight day as the Greenback builds on its recent advance following the latest batch of US economic releases. At the time of writing, the pair is trading around 158.00, hovering near its highest level since January 2025 and on track for a second straight weekly gain.Data from the US Bureau of Labor Statistics (BLS) showed that job growth slowed in December. The US economy added 50,000 jobs, falling short of market expectations for a 60,000 increase and easing from…
GBP/USD slips below 1.3450 as NFPs slash January Fed cut betsThe Pound Sterling retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, the GBP/USD trades at 1.3412 after reaching a high of 1.3451. Read More…Pound Sterling revisits weekly low against US Dollar ahead of US NFP dataThe Pound Sterling (GBP) trades near its weekly low around 1.3420 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair is under pressure as the US Dollar rallies further ahead of the United States…
The Pound Sterling (GBP) retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, GBP/USD trades at 1.3412 after reaching a high of 1.3451.Sterling retreats on mixed US payrolls data, traders pare near-term easing expectationsThe US Bureau of Labor Statistics (BLS) revealed that the economy added just 50K people to the workforce, below estimates of 60K and the previous revised print of 56K. Although the print shows signs of weakness, the Unemployment Rate edged lower from 4.6% to 4.4%, beneath forecasts of 4.5%.The…
Late yesterday, Trump posted this on Truth Social:The problem is, that number didn’t match up with what had been reported in the non-farm payrolls report data that had already been released. It also came after the Council of Economic Advisors was briefed on the jobs report (usually the afternoon before the release).The numbers only make sense if you add in the data released today:Now it would have taken some fancy modeling to map this to today’s release and trade on it because there were revisions to Oct/Nov data today that would have to be factored it.That said, knowing these numbers…
Rather than signaling a setback, December’s modest employment gain and rising unemployment rate reinforce our view that Canada’s labor market recovery is underway but will likely prove choppy, with slack absorbed only gradually over time, Royal Bank of Canada Senior Economist Claire Fan reports. December employment gains modest as unemployment rises”Employment grew by just 8,000 in December, following a robust 181,000 increase over the prior three months. The unemployment rate rose to 6.8% from 6.5%, driven primarily by a jump in the share of the population looking for work rather than an increase in layoffs. Even at 6.8%, the rate…