Author: FX
EURUSD 10 minsTreasury yields are 3-6 basis points higher on the day and that initially gave the US dollar a lift today but it’s fading. The dollar has been under some modest pressure since the softer UMich consumer sentiment data. That’s helped boost the euro to 1.1737 from 1.1712.There are similar 20-30 pip moves elsewhere and what’s likely flows ahead of the weekend. Notably, the dollar has weakened even as the odds of a larger Fed rate cut have declined. The implied chance of a 50 basis point cut is down to 4.8% and that may be due to the…
Microsoft is testing it 200 hour moving averageMicrosoft’s shares are on the run to the upside today after a series of positive catalysts. The company extended its partnership with OpenAI, reinforcing its leadership in AI investments tied to ChatGPT and Azure. It also settled with the European Commission on long-running antitrust issues related to Teams, easing regulatory pressure by offering Office 365 without Teams and improving data portability. Finally, Microsoft and OpenAI signed an MoU to redefine their partnership as OpenAI transitions toward a for-profit model, with both sides expected to hold about 30% stakes. Together, these developments boosted investor…
Adobe stock fails to hold on to gains from initial earnings rally.Markets mixed as poor economic data from the University of Michigan makes rounds.Michigan Consumer Sentiment and Consumer Expectations for September miss consensus.AI-inflected revenue at Adobe reaches $5 billion ARR during Q3.Adobe (ADBE) sank 1% lower on Friday morning despite rallying 3.5% higher in the premarket following Thursday’s post-market earnings release. Then Adobe stock recovered to even just before lunchtime in New York, and uncertainty seems to be the vibe at the end of the week.The Dow Jones Industrial Average (DJIA) is trading down 0.4% on Friday after triumphing over…
GBP/USD slips as US Dollar steadies ahead of Fed, BoE meetings The Pound Sterling (GBP) retreats during the North American session on Friday by a modest 0.10% as the US Dollar (USD) recovers some ground, after a week that witnessed US inflation remaining steady above the Fed’s 2% goal but controlled. GBP/USD trades at 1.3556 after hitting a daily high of 1.3580. The latest consumer and producer price inflation in the US provided a green light to the Fed to resume its easing cycle, as prices, although they remain high, stay below the 3% threshold. Next week, the Federal Reserve…
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EUR/USD rebounds from intraday lows near 1.1700 but remains under pressure.UoM Consumer Sentiment drops to 55.4, missing estimates and marking a four-month low.Russia and Belarus launched the Zapad-2025 military drills on Friday, prompting Poland to close border crossings with Belarus.The Euro (EUR) trades on the back foot against the US Dollar (USD) on Friday, with EUR/USD hovering around 1.1720, stabilizing after dipping to intraday lows near 1.1700.The mild recovery comes as the Greenback eases from session highs after the University of Michigan’s preliminary September survey revealed weakening consumer confidence alongside sticky inflation expectations.The headline Consumer Sentiment Index fell to 55.4…
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GBP/USD eases after a daily high of 1.3580, as the US Dollar recovers despite softer US sentiment and sticky inflation.Fed is expected to cut 25 bps next week, with SEP clarifying forward guidance; Deutsche Bank sees three cuts in 2025.UK GDP stagnates in July, while the BoE is likely to hold rates at 4%, narrowing policy divergence with the Fed.The Pound Sterling (GBP) retreats during the North American session on Friday by a modest 0.10% as the US Dollar (USD) recovers some ground, after a week that witnessed US inflation remaining steady above the Fed’s 2% goal but controlled. GBP/USD…
The British Pound (GBP) retreated slightly against the US Dollar (USD) on Friday, with the GBP/USD pair trading around 1.3555, down 0.1% on the day, correcting after the previous day’s rebound.The GBP remains under pressure in the forex market, however, held back by persistent concerns over the health of the UK labour market ahead of next Tuesday’s release of key employment statistics.Forex investors are awaiting this data with caution as the Bank of England (BoE), which holds its monetary policy meeting next week, could adjust its rate-cutting cycle in line with developments in the labour market.Against this backdrop, GBP/USD volatility…
Gold consolidates near $3,650, holding in a narrow range after this week’s record high near $3,675.Safe-haven demand remains strong, driven by global trade tension and geopolitical risk.Markets have fully priced in a 25 bps cut at the Fed’s September 17 meeting, a +90% probability says CME Fedwatch Tool.Gold (XAU/USD) is trading with a positive tone on Friday, consolidating near $3,650 mark after rebounding from Thursday’s pullback. The precious metal remains stuck in a narrow range after notching an all-time high near $3,675 earlier this week.Despite the sideways price action, Gold is on course for a fourth straight weekly gain, supported…